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Visa Everywhere Initiative is a global startup engagement program from Visa that challenges growth-stage startups to develop innovative payment and digital commerce solutions.
The Latin America and Caribbean edition focuses on two challenge areas: Small Business Recovery — digital payment innovations to support SME economic recovery — and Frictionless Mobility — contactless and mobile payment solutions for mass transit and micro-mobility services. Up to $50,000 in total prize money is awarded, with $25,000 to the winner, $15,000 for second place, and $10,000 for third.
In addition to cash prizes, finalists participate in a three-week virtual immersion program with Visa experts, mentorship from the Finnovista network, and potential pilot collaboration with Visa. Eligible applicants are growth-stage startups operating in Latin America and the Caribbean focused on fintech and payments innovation.
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Visa | Visa Everywhere Initiative | Visa Visa Everywhere Initiative Latin America & Caribbean 2020 Would you like to contribute to the economic recovery while driving a more digitalized society in Latin America? Take your startup to the next level! Apply now to Visa Everywhere Initiative LAC!
Visa Everywhere Initiative"> Visa Everywhere Initiative Visa Everywhere Initiative is a global startup engagement program that tasks start-ups to solve payment challenges of tomorrow, further enhance their own product proposition and provide visionary solutions for Visa and their vast network of partners.
In a global environment impacted by COVID-19, the fourth edition of the Visa Everywhere Initiative LAC, that for the first time brings all activities to a virtual environment, seeks to promote the economic recovery in Latin America and the Caribbean, while accelerating the digitization of all economic activities. As economies around the world are being impacted by the pandemic, innovation is more important than ever.
On one hand, small businesses are the economic engine of the economies in the region, and in Latin America specifically, 99% of companies are SMEs and they represent 61% of formal employment. While businesses of all sizes have been impacted, small businesses are in a particularly tough situation. On the other hand, there are massive challenges to take in all societies to help fight against the pandemic.
Hundreds of millions of people use mass transit (trains, subways, buses, etc.) on a daily basis all around the world. To avoid people having to touch cash or payment terminals, innovators, and in particular Visa, are working on enabling new technologies as a means of providing people with a more seamless, hygienic, and secure way to pay.
Would you like to contribute to the economic recovery while driving a more digitalized society in Latin America? Take your startup to the next level! Apply now to Visa Everywhere Initiative LAC!
As economies around the world are being impacted by the pandemic, innovation is more important than ever. Small businesses are the economic engine of the economies in the region, and in Latin America specifically 99% of companies are SMEs and they represent 61% of formal employment. While businesses of all sizes have been impacted, small businesses are in a particularly tough situation.
Visa wants to help reduce negative impacts on small and medium businesses and contribute to the recovery of the small business economy in Latin America and the Caribbean.
That’s why Visa is looking for growth-stage solutions with the potential to strengthen these small businesses operations and capabilities and wants to know – How would startups drive innovation to improve the Latin American digital payments ecosystem to support and speed up the economic recovery of Small Businesses in the stabilization periods to come?
This challenge is suited for startups in the following sectors: Accept contactless & mobile payments Hundreds of millions of people use mass transit (trains, subways, buses, etc.) on a daily basis all around the world.
These individuals receive the best transportation experiences when using new technologies such as mobile wallets (e.g., Apple Pay), wearables, or contactless credit, debit, and prepaid cards when paying for their transportation needs. With these technologies, there’s no need to carry paper tickets or cash, stand in line to buy tickets or reload transit cards; people just show up and ride.
To continue delivering seamless and secure mass transit experiences, Visa developed the Mass Transit Transaction (MTT) model. MTT, is a pay-as-you-go (PAYG) model based on contactless EMV technology that provides accessibility and enables payment transactions within public transportation systems.
Visa continues to work with the Urban Mobility industry to enable fast, easy and secure payments on more modes of transportation in the region, and is looking for innovative solutions for this to help improve the door-to-door journey. How can Visa work with your startup to develop and enhance the experience of mass transit, micro-mobility services or other forms of ticketing and mobility payments for millions of people?
For this challenge, Visa is looking for companies primarily in the following sectors: Mobile Payment Infrastructure The 10 finalists will participate in a virtual immersion program designed to speed up collaboration with Visa. The startups will then have the opportunity to present their pitches during the live streaming of the virtual final, where the three finalists will be announced.
The finals virtual event will then culminate in a one-of-a-kind online networking experience with direct access to the Latin American and Caribbean entrepreneurial community. The 10 finalists have the opportunity to participate in a 3-week virtual immersion program, including pilot design and planning workshops with experts from Visa and their network, among other activities.
Up to $50,000 USD in prizes This edition’s winner will receive $25,000 USD, the second-place finalist will win $15,000 USD and the third prize will be $10,000 USD. This program offers a unique opportunity to earn new funds for your startup and to take it to the next level.
Possibility of building a collaborative relationship with Visa Visa and the winner of VEI LAC 2020 might analyze various forms of collaboration, such as developing together a pilot proof of concept (PoC), participating in one or more mentor meetings, or other opportunities. Would you like to be mentored by the best experts in the payments ecosystem to improve your startup?
This is your chance to collaborate with Visa and boost your business. Gain access to Visa’s professionals’ expertise as well as top-notch mentors part of Finnovista’s network. Would you like to get priority access to key partners in the entrepreneurial ecosystem?
Visa Everywhere Initiative allows you to meet key players in the payments ecosystem throughout the region. Would you like to reach higher with your startup? The participants boost their visibility in the entrepreneurial ecosystem during the program and the finalists improve their position in media.
What last editions’ winners say Find out more about the previous edition of Visa Everywhere Initiative LAC and know how it is to be part of this startup innovation program for startups. Apply now and take the step forward yous startup needs to keep growing.
About Visa Everywhere Initiative 2019 Global Testimonials - Visa Everywhere Initiative VEI Program Overview 2018 Visa Inc. is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments.
We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers.
Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead with prepaid or pay later with credit products. For more information, visit usa. visa.
com/about-visa , visa. com/blog , and @VisaNews . Finnovista is an impact organization that empowers Fintech and Insurtech ecosystems in Latin America and Spain through a collaborative platform that encompasses acceleration and scale up programs, events, research projects, competitions and other collaborative innovation projects with industry corporates.
At Finnovista we build bridges between industry corporates and Fintech & Insurtech startups with the vision of transforming finance and insurance through entrepreneurship, technology and innovation.
Finnovista also invests, accelerates and helps scale up Fintech & Insurtech startups in Latin America and Spain, through our Startupbootcamp programs and with the collaboration of leading financial, insurance and leading corporates in the region. Finnovista has offices in Madrid, Spain and Mexico City, Mexico.
Finnovista is part of the Rainmaking Group, a global leader in corporate innovation and venture development with a presence in more than 8 countries and 4 continents. Rainmaking specializes in making innovation a predictable engine of growth. If you have any doubts don't hesitate to contact us at [email protected]
Based on current listing details, eligibility includes: Growth-stage startups operating in Latin America and the Caribbean focused on Small Business Recovery or Frictionless Mobility solutions. Applicants should confirm final requirements in the official notice before submission.
Current published award information indicates $10,000 - $25,000 per winner (up to $50,000 total pool) Always verify allowable costs, matching requirements, and funding caps directly in the sponsor documentation.
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