Apply Now: Visa’s Fintech Innovation Program (2024)

The Visa Innovation Program represents a strategic initiative aimed at fostering collaboration and innovation within the fintech ecosystem. By providing a platform for companies to scale and engage with Visa, its clients, and partners, the program opens doors for fintechs to expand their market reach, gain valuable mentorship, and establish connections with potential investors.

Having demonstrated success with previous implementations in Spain and Portugal, where it facilitated numerous global connections and supported a multitude of pilot projects and commercial agreements, the program has proven its effectiveness in driving innovation and fostering collaboration within the industry.

The recent Visa Innovation Program Europe summit in Madrid served as a platform to showcase the achievements of participating fintechs and marked the launch of the program's third edition. Through events like these, the program aims to further stimulate innovation by providing fintechs with access to Visa's extensive global network, enabling knowledge exchange, and facilitating the commercialization of cutting-edge payment solutions.

Overall, the Visa Innovation Program plays a pivotal role in accelerating the growth and development of the fintech sector by providing fintechs with the resources and support they need to thrive in an increasingly competitive landscape.

Despite the competitive nature of the fintech ecosystem, the program has seen significant interest, with 111 applications received during its second edition. Only eight were selected based on their scalable business models and growth ambition.

Visa's commitment to the fintech sector is evident as it aims to integrate fintech solutions into traditional banking systems, addressing challenges such as regulation, data protection, and security. By supporting fintechs in overcoming financing hurdles and scaling up, Visa emphasizes the importance of collaboration within the ecosystem.

Visa's commitment to driving innovation extends beyond its collaboration with fintechs. The company actively connects these innovative startups with financial institutions and other sectors, fostering collaboration and driving advancements in the global payments landscape. Technologies like Visa Direct and Tap to Phone are key examples of Visa's efforts to revolutionize payment methods and enhance the overall user experience.

Visa Direct enables real-time, secure, and convenient payments directly to bank accounts, providing businesses and consumers with faster and more convenient payment options. This technology has the potential to streamline various financial transactions, including peer-to-peer payments, bill payments, and remittances, ultimately transforming the way people send and receive money globally.

Similarly, Tap to Phone technology allows businesses to accept contactless payments using their smartphones or tablets, eliminating the need for traditional point-of-sale terminals. By enabling merchants to accept payments more easily and securely, Tap to Phone technology democratizes access to digital payments, particularly for small and medium-sized businesses.

Through these innovative technologies and initiatives, Visa is driving the digital transformation of traditional banking in Spain and beyond. By embracing emerging payment solutions and fostering collaboration across industries, Visa is helping to create a more seamless and efficient payment ecosystem that benefits businesses, consumers, and financial institutions alike.