- FinTechs in Europe first to take
advantage of new fast-track Visa program
- Enables simple, rapid onboarding for
start-ups in as little as four weeks
- $100m investment program will support
development of European FinTech solutions
- Visa partnering with Europe-based
innovators Contis, EVRY, Jaja, Revolut, Wirecard
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.
1
https://assets.kpmg.com/content/dam/kpmg/xx/pdf/2018/02/pulse_of_fintech_q4_2017.pdf
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Visa IncMark Hoopereuropeanmedia@visa.com+44 (0) 207 795
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