Visa launches women’s global edition of its Visa Everywhere Initiative

Digital payments giant Visa has launched a women’s global edition of its Visa Everywhere Initiative.

The global innovation programme tasks startups to solve payment challenges of tomorrow. In addition, the initiative helps participants enhance their product propositions and assists them in providing solutions for Visa’s network of partners.

The women’s only iteration of the programme features a fintech and a social impact challenge. Visa will select 12 finalists from across both challenges — two each from the six regions that it operates in — to pitch their solutions in front Visa executives and clients in June in Paris.

There’s a total of $200 000 in prize money up for grabs in the Women’s Global Edition of the Visa Everywhere Initiative

Visa currently operates in North America, Latin America, Europe, Asia Pacific and Central Europe Middle East and Africa. The winning submissions will each be awarded a $100 000 cash prize and mentorship from Visa. Applications close on 14 April.

Fintech challenge

For the fintech challenge applicants must demonstrate how their solution can help transform consumer payments and, or commercial experiences locally, regionally or globally.

The solutions for this challenge can apply to financial institutions, online-only banks and lenders, merchants, marketplaces, digital wallets, data analytics, loyalty programs, payment solutions or payment infrastructure.

Visa will select one finalists per region to pitch their solutions live at the initiative’s event. In addition, finalists will also attend the opening match of the Fifa Women’s World Cup. The grand prize of the fintech challenge is $100 000 plus an opportunity to run a pilot with Visa and or a Visa client.

Social impact challenge

The social impact challenge seeks to find how women entrepreneurs around the world can drive social impact by supporting sustainable and equitable livelihoods and strengthening local or regional economies.

For this challenge, Visa is looking for women entrepreneurs focused on social impact outcomes across micro and small business development, environmental and social responsibility, and community engagement.

Only women-founded or co-founded organisations — with between two to 50 employees — that have a mission or project that resonates with Visa’s social impact charter will be considered.

Although applicants do not necessarily have to be a fintech or tech-based startup, they must have traction in the way of a live product or service, clients and sales revenue.

Visa will select one finalists per region to pitch their solutions live at the initiative’s event. In addition finalists will also attend the opening match of the Fifa Women’s World Cup. The grand prize of the social impact challenge is $100 000.

Featured image: Past Visa Everywhere Initiative participants. Back row, left to right: AiFi’s Ying Zheng, bePOS’s Nga Pham, and BeautyLynk’s Rica Elysee. Middle row, left to right: Loop & Tie’s Sara Rodell, VRteek’s Rania Helal, and Culqi’s Amparo Nalvarte. Front row, left to right: Paytailor’s Mariliis Mia Topp and Persollo’s Olga Oleinikova (Visa)