Visa invites Asia Pacific’s top startups to shape the future of payments

Visa is today
announcing an open call for startups across Asia Pacific to apply for the Visa
Accelerator Program 2023. Now in its third year, the Visa Accelerator Program selects
a small group of startups to collaborate on some of the most pressing
challenges in the payments industry. The 2023 program will focus on developing
solutions in the
following areas: Web 3.0, global money movement, embedded
finance, merchant and small business enablers, and open banking
solutions.

The Visa Accelerator Program was launched in 2019
and has since enabled the growth of some of Asia Pacific’s most prominent
startups. The five startups from the 2022 cohort presented their
proof-of-concepts at the Visa Accelerator Spotlight event, after working with
Visa product and
business development teams to bring their concepts to life and expand their
businesses into new markets across the region.

Startups from the 2021 and 2022 cohorts secured
nine commercial deals with Visa’s clients and partners in Asia Pacific.
Additionally, Visa has entered into six partnership and commercial agreements
with selected startups, emphasising the value that startups can bring to the
larger payments industry.

Chris Clark, President, Asia Pacific, Visa said,
“It is exciting to see great products co-developed by the successful startups
from the previous cohorts, who have also become our valued partners. Expectations are high as we recruit for the third
cohort, because we want to continue bringing the best startups across the
region into Visa’s payments network. We’re looking forward to seeing applications from all
around Asia Pacific for the 2023 Accelerator Program.”  

To tap into the best of the Asia Pacific startup
community, Visa is partnering with Plug & Play, one of the world’s most
successful global innovation platforms.  Plug
& Play will be a key strategic partner and will curate access to emerging fintech-focused
startups for the Visa Accelerator Program 2023. Plug & Play will bring their
expertise as a highly successful investor and their experience working with
other major corporate accelerator programs, to identify, attract and accelerate
startups who want to solve industry challenges and scale new technologies.

Jupe Tan, Managing Partner of Plug &
Play APAC said, “We are delighted to be working on the Visa Accelerator
Program. Our goal is to provide a line-of-sight into the most innovative
fintech startups that are shaping the financial services industry across Asia
Pacific, as well as enable successful proof-of-concept
engagements between the
finalised startups and Visa.”

Clark added, “Our partnership with
Plug & Play will connect Visa with like-minded fintechs that share our
common goal to build new digital commerce experiences together. From exploring
the potential of new developments like Web 3.0 and embedded finance, to making
it easier for businesses to move money around the world, there are so many
opportunities for startups to work with Visa and our network of bank and
merchant partners.”

Join
the program

Applications for the Visa Accelerator Program 2023 are
now open and will close 10 January 2023. The program is the right fit for startups that are at Series
A and above, have a long-term commitment to Asia Pacific growth and existing
operations in the region, and have a market-validated, proven solution. The
six-month program will allow selected startups to work together with Visa’s payment experts, product
architects and business development teams to rapidly co-develop, test, and
iterate solutions, while pursuing tangible go-to-market opportunities with
Visa’s extensive network of financial institutions, merchants and digital
partners. For more
information, including how to apply, visit: https://www.visa.com.sg/apaccelerator