The new accelerator program will select a total of 6 startups to be part of the first cohort to create defined commercial opportunities by leveraging on Visa's extensive network of bank and merchant partners in the region.
Visa is looking for startups that are working on the following areas:
Expanding access to the digital economy to consumers and businesses that may be underserved or cash-dependent.
Supporting small businesses as they grapple with changing technology demands and the ongoing impacts of the COVID-19 pandemic.
Leveraging the growing open data environment in the region to develop more personalised banking and shopping experiences.
Developing new ways of moving money that aren’t dependent on traditional credit and debit cards.
According to Visa, the new accelerator program is designed for startups that have launched successful solutions in their home markets, and are looking towards their next stage of growth — perfect for startups that are at the Series A stage and above.
“There is no shortage of fantastic solutions coming out of the Asia Pacific, particularly the Philippine startup community. What’s most important to Visa is how we can support those solutions getting elevated to a stage where in a few months’ time they could be pitched as a commercial deal to a leading bank, retailer or technology company in the region. A big differentiator for the Visa Accelerator Program is our concentration on a small number of startups that are truly ready to unlock that next level,” Wolbert added.