Visa Announces Fast-Track Access to its Network and $100m Investment for European FinTechs
Visa (NYSE: V) today announced two new programs designed to support European FinTechs who are developing the next generation of digital payment solutions.
Starting in July, FinTech start-ups based in Europe can onboard to Visa’s global network in as little as four weeks. The new FinTech fast-track program provides rapid onboarding and reduced fees to help early stage start-ups gain access to the capabilities that lie within Visa’s global network to power their own ideas.
Additionally, Visa has launched a $100m European investment program to support the thriving FinTech ecosystem in Europe and grow its investment activity in start-ups.
Speaking at the Money 20/20 conference in Amsterdam, Visa’s CEO for Europe, Charlotte Hogg, said: “These are exciting times for payments in Europe. The introduction of new regulation, combined with dramatic changes in consumer behaviour and rapid technology developments, have transformed Europe into a region where new commerce ideas are born every day. This creates an incredible opportunity for new and existing payment companies to deliver more seamless, simple and secure payments that people demand.
“At Visa we are open for all players to take advantage of the reach, capabilities and security of our global network to grow their businesses. Our commitment is to be the most responsive and supportive network for both emerging payment players and our existing clients and partners.”
Visa’s Fast-Track Program
A key element of Visa’s FinTech engagement activity is a fast-track initiative making it possible for start-ups to on-board with Visa in just four weeks.
Visa will partner with providers to sponsor start-ups who wish to participate in the program and offer consumers and merchants new and innovative digital commerce experiences.
At launch, Visa will be working with Contis, the alternative banking, payments and processing platform provider. The program will launch in July, initially focusing upon UK-based start-ups who can register their interest now at www.visaeurope.com/fintech. Additional European markets will be added soon with a view to global expansion of the program.
Visa Investment and Partnership
Visa has also launched a $100m investment program. The focus will be on supporting start-up businesses that are innovating in the arena of open banking and those using emerging technologies that have the potential to create new secure, commerce experiences.
Visa has already made a series of FinTech investments globally including Klarna, solarisBank and Payworks in Europe. European FinTech investment totaled around $4.7 billion in 2017, according to KPMG1.
Additionally, several payment platforms and FinTechs are collaborating with Visa to create new consumer and merchant experiences, including Contis, EVRY, Jaja, Revolut and Wirecard. [Hyperlink to company websites]. Any FinTechs interested in working with Visa can visit www.visaeurope.com/fintech to get in touch.
# # #
Comments from partners working with Visa to create new and simplified commerce experiences:
Flavia Alzetta, Chief Executive Officer, Contis said: “In a world that is being fundamentally reshaped by technology, it is crucial that key parties pull together to remove the friction that stifles disruption across the financial services sector. We are delighted to partner with Visa to launch the FinTech fast-track initiative that will fuel innovation and boost the growth of the next generation of financial services providers.”
Christer Jonsson, SVP Card, EVRY Financial Services, said: “FinTechs and startups are in the forefront of developing the next generation of digital payment solutions. EVRY is delighted to collaborate with Visa to give European FinTechs and startups easy access to both the Visa network and EVRY´s complete service portfolio of cards and innovative payment solutions, securing swift time to market. The collaboration ties in well with EVRY´s plan for further European expansion.”
Kyrre Riksen, CMO/Co-Founder, Jaja said: “Jaja is an innovative mobile-first credit card provider with a strong focus on simplifying the customer experience. We are working in close partnership with Visa as we prepare for our launch later this year when we will begin issuing Visa credit cards to UK consumers and small businesses. Working with Visa we will be rolling out a superior service and unique features, allowing customers to open accounts instantly, giving them real-time access to their spending, and enabling them to share their credit limits with others.”
Nikolay Stronosky, Founder & CEO, Revolut, said: “Nearly two million people across Europe have already signed up to Revolut, a number which has been steadily increasing since we began issuing Visa cards in 2017. Having made our mark in Europe, Revolut is now forging ahead with ambitious plans to expand into new markets in Asia and the Americas. Visa has simplified its processes and accelerated internal timelines in order to support Revolut to grow faster and expand globally as we look to bring greater financial control and flexibility to even more customers around the world.”
Susanne Steidl, Chief Product Officer, Wirecard said: “In partnership with Visa, Wirecard is enabling FinTechs and start-ups to develop their new commerce ideas through white label solutions and banking as a platform. In our collaboration, we are also addressing opportunities in new segments and markets, accelerating the adoption and acceptance of digital payment methods, and making full use of our joint capabilities to provide our range of customers with state-of-the-art digital products and services. For example, Visa and Wirecard will work on solutions to provide retailers with business analytics to help them streamline and improve the consumer purchase experience.”
About Visa Inc.
Visa Inc. (NYSE:V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit our website (www.visaeurope.com), the Visa Vision blog (vision.visaeurope.com), and @VisaEuropeNews.
+44 (0) 207 795 5336
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Keihin Switches to Rimini Street Support for Oracle EBS20.6.2018 23:00 | Pressemelding
Rimini Street, Inc., (Nasdaq: RMNI), a global provider of enterprise software products and services, and the leading third-party support provider for Oracle and SAP software products, today announced that Keihin Corporation, a leading Japanese automotive parts manufacturer, has switched to Rimini Street support for its Oracle E-Business Suite (EBS) system. By switching to Rimini Street, Keihin now receives a more comprehensive, responsive service for its Oracle EBS application and support for its custom, add-on code for a guaranteed minimum of 15 additional years from the date they switched, with no required upgrade to remain supported. In addition to receiving vastly improved service, Keihin also immediately realized savings of 50 percent in annual support fees. This cost savings of several tens of millions of yen annually can now be reinvested into more important initiatives in the IT organization, such as the development of a future cloud environment. This press release features mul
Results of MSCI 2018 Market Classification Review20.6.2018 22:08 | Pressemelding
MSCI Inc. (NYSE:MSCI), a leading provider of indexes and portfolio construction and risk management tools and services for global investors, announced today that beginning in June 2019, it will include the MSCI Saudi Arabia Index in the MSCI Emerging Markets Index, the MSCI ACWI Index, and other global and regional indexes as applicable. This decision follows the implementation in the Saudi Arabia equity market of a number of regulatory and operational enhancements which effectively increased the opening of the market to international institutional investors. The proposal for inclusion received the support of the vast majority of international institutional investors that participated in the consultation. MSCI will include the MSCI Saudi Arabia Index in the MSCI Emerging Markets Index, representing on a pro forma basis a weight of approximately 2.6% of the index with 32 securities, following a two-step inclusion process. The first inclusion step will coincide with the May 2019 Semi-Ann
Quanergy Solid State LiDAR Wins Juniper Research Top Automotive Award20.6.2018 20:46 | Pressemelding
Quanergy Systems, Inc., a global leader in the design and development of solid state LiDAR sensors and smart sensing solutions, today announced that its innovative LiDAR sensors have been selected as Best Consumer Product in Automotive and Telematics by Juniper Research in its annual Future Digital Awards for Technology and Innovation. Audi's AI Traffic Jam Pilot was named runner-up in the same category. The Future Digital Awards are awarded to companies that have made outstanding contributions to their industry and who are positioned to make a significant impact in the future. “Juniper’s Future Digital Award is a testament to the hard work our team has put into developing the world’s most affordable and most reliable LiDAR technology and products,” said Dr. Louay Eldada, CEO and co-founder of Quanergy. “With momentous strides made in the autonomous vehicle space, Quanergy continues to deliver innovative solutions, including our S3 solid state LiDAR sensor, that will enable self-drivin
Cushman & Wakefield Files Registration Statement for Proposed Initial Public Offering20.6.2018 17:20 | Pressemelding
Cushman & Wakefield today announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to the proposed initial public offering of its ordinary shares. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Morgan Stanley, J.P. Morgan, Goldman Sachs & Co. LLC and UBS Investment Bank will serve as joint book-running managers and representatives of the underwriters for the offering. Barclays Capital Inc., BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and William Blair & Company, L.L.C. will also serve as joint book-running managers for the offering. The offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, J.P. Mor
Emirati Businessman and Philanthropist Abdul Aziz Al Ghurair Establishes an Education Fund for Arab Refugee Children & Youth From Countries Affected by Wars and Disasters20.6.2018 17:15 | Pressemelding
On World Refugee Day, Abdul Aziz Al Ghurair, Emirati businessman and philanthropist, announced the Abdul Aziz Al Ghurair Refugee Education Fund, a new 100M AED initiative to benefit 5,000 children and youth over 3 years. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180620006060/en/ His Excellency Abdul Aziz Al Ghurair, Emirati businessman and philanthropist (Photo: AETOSWire) Abdul Aziz Al Ghurair said: “I established this fund because I believe that philanthropists have a role in helping to address one of the most acute challenges of our region: lack of education opportunities for young people who need it the most.” The Fund will award grants to support secondary, vocational and tertiary education programs for refugee youth in Jordan and Lebanon. It will also support children of families who due to wars and disasters in their home countries, temporarily reside in the UAE but are unable to afford school fees. The first rou
Bentley Systems Acquires Synchro Software to Extend Digital Workflows for Infrastructure Project Delivery Through 4D Construction Modeling20.6.2018 15:10 | Pressemelding
Bentley Systems, Incorporated, a leading global provider of comprehensive software solutions for advancing infrastructure, today announced the acquisition of Synchro Software, headquartered in London, leader (and the market creator) in 4D construction modeling software, for scheduling and project management. Synchro, “construction’s time machine,” has been globally adopted, in particular, for building and civil infrastructure projects. The acquisition broadens Bentley’s ProjectWise construction offerings—which already include ConstructSim, the leader for 4D construction modeling in project delivery of industrial plants. With construction project management in 4D, benefits of BIM can extend throughout infrastructure project delivery and asset lifecycles, as traditionally disconnected workflows become digital workflows. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180620005867/en/ Synchro 4D construction modeling of Crossrai