During the next 4-6 months, the startups will be focused on developing various commercial initiatives such as new payment solutions with assistance from Visa and its global network of bank and merchant partners. A key goal for the accelerator program is to extend support to startups that have introduced successful solutions in their local markets (as they continue to work towards their next stages of growth).
Chris Clark, regional president, Asia Pacific, Visa, stated:
“Hundreds of startups came forward with outstanding ideas for new and enhanced commerce experiences, but the five participants we’ve selected truly stood out. We’re excited to work with each of the startups in our first cohort to bring their concepts to life and expand their businesses into new markets across the region.”
The startups chosen for Visa’s program include:
- Brankas – a Fintech startup that aims to support Open Banking products in the Southeast Asia region
- DigitSecure – a payments solution provider
- Curlec – a Malaysian Fintech that aims to support recurring payments
- ModusBox – an open-source payments solution for enabling interoperability between real-time payment channels
- Open – a neo-banking platform for SMEs
The Visa Accelerator Program aims to help new business owners or entrepreneurs with quickly testing their products and services. It may also lead to partnership opportunities via an accelerated Proof of Concept (POC) over a relatively shorter period of time. The Program is designed to give high-potential startups more time to expand their business, and move forward with a fast-tracked route to product development.
As reported recently, Visa integrated USDC stablecoin connecting traditional transfers with digital currency in a historic move.
As covered in March 2021, Visa revealed that 85% of surveyed consumers expect digital payments options while making in-store purchases.