The Visa Innovation Program will operate as a collaborative platform where fintechs and Visa’s business partners will work together for addressing market-wide challenges through tangible propositions.
The Program will focus on changing cash behavior to payments with cards under four major verticals: daily expenditures of Greek consumers, incoming tourist spend, transit, Government to Consumer (G2C), Consumer to Government (C2G), Business to Business (B2B) and Peer to Peer (P2P).
The target audience of the program is primarily sizeable, i.e. large and mid-sized, fintechs with a fully or semi-operational solution that addresses market needs fully or at least partially. The Program will also welcome smaller fintechs by catering their needs around accessing Visa-friendly service provider ecosystem and proof of concept (PoC) opportunities.
The program provides benefits, such as:
The Program will encourage participants to follow a human-centered design approach and will leverage co-creation and open innovation methodologies in an effort to tailor their existing solutions as per specific needs and challenges of the market.
Fintechs will also be encouraged to leverage the Visa Developer Platform (VDP) which provides simplified and user-friendly access to many of Visa’s most in-demand products and services through APIs, allowing anyone to transform great ideas into new digital commerce experiences, while at the same time meeting industry standards.
The first Cohort will be comprised of the following steps:
Fintechs enrolling to the program will be provided with access to a wide array of mentors, experts, coaches, and Visa’s global network while receiving support on business planning, value proposition development, programming and many more needs throughout 5 month- long cohorts.
The Visa Innovation Program started with a kick-off launch event that took place on 14th of March, where objectives of the Program, its benefits and time plan were presented. The event has been attended by Visa executives from Greece and abroad, business partner executives and the press, as well as a large selection of fintechs.