Visa accepting applications from startups

Visa yesterday announced that it had started to accept applications for a "Visa Accelerator Programme 2023" from startups in the Asia Pacific region, including Bangladesh, to help them unlock business growth potential and access Visa's network of partners from the region. 

The programme will focus on solutions in Web 3.0, global money movement, embedded finance, merchant and small business enablers and open banking.

The programme will choose a select group of startups to collaborate on some imperative challenges in the payments industry.

The six-month programme will let startups receive mentorship from Visa's payment experts, product architects and business development teams to co-develop, test and iterate payment solutions.

The start-ups will also pursue intangible go-to-market opportunities through Visa's comprehensive network of financial institutions, merchants, and digital partners, according to a statement.

"The program is perfect for startups at Series A and above with a long-term commitment to Asia Pacific growth, existing operations in the region and a market-validated proven solution," said the statement.

The last date for submitting applications is January 10, 2023.

"We are pleased to bring the Visa Accelerator Program for the 3rd time to Bangladesh. Startups in the previous cohorts have brought exceptional ideas and secured nine commercial deals with Visa's clients and partners in Asia Pacific," said Soumya Basu, country manager for Bangladesh, Nepal and Bhutan at Visa.

"We aim to help startups from Bangladesh too build their potential and grow in new markets; we are excited to invite applicants and help us continue the program's momentum," he said.

Last year, Bangladeshi fintech start-up TallyKhata was selected as one of the five participants in the Visa Accelerator Programme 2022, the first startup from Bangladesh to be a part of this program.

TallyKhata and Visa enable small business financing by leveraging the former's merchant platform and data and Visa credentials for supplier payments and business expenses.

After the six-month programme, the startups will have the opportunity to participate in a post-program engagement model depending on various factors, including the outcome of the proof-of-concept test and other business requirements.