• Tuesday, June 25, 2024
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Visa seeks 20 startups for Africa fintech acceleration program

Visa moves to stop payment scams with AI features

Visa, a global payments technology company, is now accepting applications for its Visa Africa Fintech Accelerator program specifically for startups in Africa and will run twice a year for 12 weeks, with up to 20 startups per cohort.

Otto Williams, Senior Vice President, Head of Product, Partnerships, and Digital Solutions for Visa CEMEA said, “Through the Visa Africa Fintech Accelerator, Visa is committed to driving financial innovation, fostering entrepreneurship, and supporting the growth of Fintech ecosystems across Africa.”

“This accelerator represents a unique opportunity for Fintech startups to access invaluable resources, mentorship, and potential investment opportunities,” Williams said.

According to Visa, the accelerator program invites startups up to the Series A stage to apply through the Visa website, offering them an unparalleled opportunity to gain expertise, valuable industry connections, cutting-edge technology, and potential investment funding.

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Also, the application process will close on August 25th, and the selected startups for the first cohort will be unveiled in September.

As part of Visa’s commitment to invest $1 billion in Africa by 2027, the accelerator aims to bolster Africa’s payment ecosystem through innovative technologies, focusing on digitizing economies, upskilling talent, and building capacity.

Partnering with Plug and Play, a global innovation platform, Visa ensures an all-encompassing and supportive program for selected startups. Over the 12-week program, Plug and Play will provide valuable content, connect startups with mentors, offer personalized coaching, and introduce them to a wide network of global and regional investors.

The Visa Fintech Accelerator is seeking innovative African startups generating revenue in five categories. Which include startups that focus on modernizing money transactions, improving finance experiences, supporting merchants and SMEs, developing payment infrastructure, and exploring the future of finance using emerging technologies.

In addition, this program will encourage sustainable and inclusive finance solutions to promote eco-friendly economies and financial services for underserved communities. Startups in these areas are invited to apply for the program.