Global payment technology company, Visa, has launched Visa Everywhere Initiative, a global edition for women.
The initiative tasks Startups in providing a solution to payment challenges and also renders assistance to participants through enhancing the proposition of their products. The global innovation program will also assist the Startups in providing solutions for partners in Visa’s network.
The program would feature two aspects; social impact and Fintech challenge, which will see 12 finalists, emerged from both challenges. Two finalists each would be selected from Visa’s six region- North America, Latin America, Europe, Asia Pacific and Central Europe Middle East and Africa- of operation.
This will lead them to France in June, where they would pitch in the presence of Visa executives. The eventual winner would get awarded a cash prize of $100 000, with mentorship by the organizers.
As mentioned earlier, two challenges would be the main focus of the Visa program. Here is an overview of these challenges:
Social impact challenge
This challenge looks out for how social impact is driven by women entrepreneurs, through sustainability and strengthening of local economies.
It will also focus on women who have impacted business development in the small business sector.
This challenge tasks participants with how viable their solution can be, in improving online payment methods for individuals and business transactions.
The application of this solution surrounds the concept around Fintech; wallet transfer, online banking, and payment solutions.
Asides the prize money involved, the winners would attend the opening match of the FIFA Women’s World Cup.
Consideration for the application includes women Founders, or, Co-Founders only. The number of employees in their organization should also be between 2 and 50. Their mission must align with Visa’s social impact challenge. They do not necessarily have to be a Fintech or Tech Startup.
Applications for the Visa Everywhere initiative program ends on Sunday, April 14, 2019.