[News] Visa Everywhere Initiative: Applications Open for Moroccan Fintech Startups

[Mr.Hacker]

 

 

Rabat - Visa, a leading digital payments company, has announced opening applications for the 2023 Visa Everywhere Initiative (VEI), a competition open for startups from across the world to present their innovative solutions for future payment and commerce challenges. 

VEI winners will receive monetary rewards and gain access to Visa's extensive network of partners in the banking, merchant, venture capital (VC), and government sectors, indicated Visa in a press release. Winners will also benefit from recognition from one of the “world's most trusted and valuable brands,” it added.

The CEMEA finals, covering Central and Eastern Europe, the Middle East, and Africa, will be livestreamed on July 27 on TechCrunch, an American online publisher focused on the high tech and startup ecosystem, added the statement.

The CEMEA Regional winner will advance to the global finale, which will take place on September 19 at TechCrunch Disrupt in San Francisco.

For the first time, Visa's VEI CEMEA will present an award in the Risk and Security category called the Fintechs Innovating in Risk Excellence (FIIRE) Award. The 2023 edition of VEI, in collaboration with Emirates NBD, is seeking global fintech players in areas such as fraud management, cybersecurity, and credit risk, among others.

After a joint review by representatives from Visa and Emirates NBD, the winning fintech will receive a $25,000 (MAD 254,517) prize and an opportunity to collaborate with Emirates NBD, one of the largest banking groups in the region.

“The Visa Everywhere Initiative is a platform that empowers fintechs and entrepreneurs to showcase the most ground-breaking, impactful solutions in the world of payments and commerce,” said Sami Romdhane, Visa’s Country Manager in Morocco.

Romdhane highlighted fintech companies’ potential to provide significant social benefits in the markets they operate in using their “technology-driven, innovative solutions,'' especially by offering financial services to those who have been “traditionally underserved.”

“At Visa, we believe access to the digital economy drives equitable, inclusive growth,” he said, highlighting VEI as an important means of supporting entrepreneurs who are driving innovation in this space.

Since its establishment in 2015, VEI has helped startups from over 100 countries raise more than $16 billion in funding, with a network of nearly 12,000 startups worldwide. 

In 2022, the competition awarded over $530,000 (MAD 5.39 million) in prize money to more than 4,000 participating startups from five regions, concluded the statement.
 

https://www.moroccoworldnews.com/2023/04/355019/visa-everywhere-initiative-applications-open-for-moroccan-fintech-startups