Visa, a global leader in digital payments, has unveiled its call for startups to join the Visa Accelerator Program 2024. This six-month initiative aims to empower startups across the Asia-Pacific region by providing them with a platform to unlock growth potential and commercialization opportunities. Through this program, Visa is reaffirming its commitment to supporting budding businesses and fostering innovation in the dynamic landscape of digital payments.
A Legacy of Support and Success
The Visa Accelerator Program has a rich history of nurturing startups in the Asia-Pacific region, offering them invaluable mentorship, cutting-edge technology, and access to investment opportunities. Past cohorts from 2021 and 2022 have witnessed remarkable success, with startups closing significant business deals and forging strategic partnerships under Visa’s guidance. The program has played a pivotal role in driving innovation and catalyzing growth within the payments industry.
In 2023, seven startups were handpicked to participate in the program, setting the stage for further collaboration and innovation in the digital payments space.
Empowering Collaboration and Innovation
The Visa Accelerator Program offers startups a unique opportunity to collaborate with Visa’s payment experts and business development teams. Through co-development, testing, and iteration, startups can refine their solutions and address real-world challenges in the payments ecosystem. The program’s focus areas for 2024 include Artificial Intelligence/Generative AI, Embedded Finance, Global Money Movement, Digital Acceptance for Micro, Small, and Medium-Sized Businesses (MSMBs), and the Loyalty of the Future.
Jeff Navarro, Visa Country Manager for the Philippines, expressed enthusiasm for the program, highlighting its potential to drive innovation and address key industry challenges. He emphasized Visa’s commitment to supporting startups and fostering the growth of the payments industry.
Key Benefits for Selected Startups
Participating startups stand to gain a host of benefits from the Visa Accelerator Program 2024. These include rapid solutioning and testing with Visa’s support, equity-free funding of up to US$50,000 for Proof-of-Concept (POC) development, exclusive access to Visa’s global network and tailored partnerships, dedicated mentoring from Visa sponsors and POC working teams, and opportunities for follow-on pilots and commercial agreements.
Joining the Visa Accelerator Program
The Visa Accelerator Program 2024 welcomes growth-stage startups with a strong commitment to long-term growth in the Asia-Pacific region. Interested applicants should have existing operations within the region and a market-validated, proven solution. The application period runs from January 8 to March 8, 2024, with selected applicants notified in April 2024. POC development will take place from May to October, culminating in the final demo day in November 2024.
Fostering Innovation and Collaboration
The Visa Accelerator Program 2024 represents a concerted effort to foster innovation, collaboration, and growth within the digital payments space. By providing startups with the resources, mentorship, and support they need to succeed, Visa is driving positive change and shaping the future of payments in the Asia-Pacific region.