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Exposure, partnerships, funding, and access. These are the four main reasons why you should apply for the Visa Everywhere Initiative (VEI), according to past winners of the programme.
Just days before entries for the sub-Saharan Visa Everywhere Initiative draw to a close, hear from five past winners — founders of Loop and Tie, Kompas, QPal, Losant, and Xmore — why you should definitely apply for the fintech development programme.
When evaluating submissions for VEI, Visa focusses on startups that have ideas relevant to its business. In addition, the company considers whether startups have a product in the market, traction with early customers, and early funding from external investors.
Under the Visa Everywhere Initiative, selected fintech startups stand to win up to $50 000 in funding, as well as a chance to work with Visa
Through VEI, Visa is looking for startups that use fintech to solve local issues. Interested innovators can apply to one of three challenges — merchant payments, social business payments, and financial inclusion — that have been purposely designed with local challenges in mind.
The challenge briefs are:
• How can your startup leverage Visa Developer APIs to either enable smaller merchants to accept payments in-store digitally or, provide a safe and secure solution for online merchants to drive ecommerce and reduce cash on delivery?
• How can your company use Visa’s APIs to leverage mass reach partner platforms like Facebook to help businesses operating in fast-paced consumer centric environments improve cash flow and receive payments?
• How can your startup leverage technology to provide services that are functional for illiterate customers to provide them with secure transaction experiences that build and enhance their confidence in the banking system?
Successful applicants stand to win up to $50 000 (a $25 000 prize and potentially up to $25 000 in pilot funding), plus the potential opportunity to work with Visa.
Interested in taking part in the challenge? Entries close next week Thursday (31 May), and applicants can submit proposals here. Should you need any assistance or have any questions, comments or feedback, email firstname.lastname@example.org.
This article was sponsored by Visa.