Skip to main content

Visa’s Fast Track Program Propels Growth of the Fintech Industry Worldwide


Fintechs are a central part of the global payments ecosystem, and amidst COVID-19 have launched further into the spotlight, reporting sizable upticks in the usage of their apps, as more people manage their money from their personal devices. Visa today is proud to announce its continued support of the global Fintech community, having grown the Fast Track Program to over 140 Fintechs. Since expanding globally in mid-2019, the Fast Track program has grown 280%, highlighting the surge in demand for digital payments worldwide.

Fast Track allows both new and established businesses to leverage the speed, security, reliability and scale of the Visa network to get up and running quickly, taking the process from months to weeks. The program provides turnkey access to Visa’s ecosystem partners, online licensing, Visa’s APIs as well as extensive go-to-market toolkits, online education and expert advice to help Fintechs scale their business. With new members from Africa, Asia Pacific, Europe, Latin America, the Middle East, and North America, these Fintechs are transforming how consumers and businesses manage money, invest, receive loans and send payments worldwide.

“Our goal is to bring cutting-edge Fintechs into the Visa ecosystem, to help them grow and scale their business in record time,” said Terry Angelos, senior vice president and global head of Fintech, Visa. “Through programs like Fast Track, Visa is committed to helping Fintechs, many of which are small businesses, advance their potential and get into market quickly so they are ready to provide innovations that move the world forward everyday – and especially in current times.”

Fast Track Fintechs Focus on Recovery
Visa partners including Airwallex, Fundation and Rappi have used their ongoing focus on innovation and growth to be nimble in their reactions to COVID-19. Australia-founded Airwallex has extended support to Australian and UK small businesses in need by offering to waive their international transactions fees and U.S.-based Fundation is helping small businesses quickly get the capital they need during these times. Rappi out of Colombia has begun piloting food delivery by robots, working to minimize the spread of the virus. In these videos, Airwallex and Rappi both talk about their experiences in working with Visa.

“During these challenging times, it’s more important than ever that we are able to support small businesses by getting them the funds they need as quickly as possible to stay afloat,” said Sam Graziano, chief executive officer, Fundation. “Through our partnership with Visa, we will continue to innovate and develop strategies to aid in the relief and recovery of our customers' businesses."

Visa Welcomes a New Class of Innovators
The newest members of the Fast Track Program span a diverse range of companies, including female-founded Fintechs, digital currency wallets, consumer-centric and business-to-business (B2B) solutions providers. Highlights include:

●   New Enablement Partners: Fast Track is made possible thanks to collaborations with enablement partners who are the critical technology companies that lay the foundation for Fintechs to build their products. Announced today, three new program manager enablement partners – Cascade FinTech, Deserve, and PEX Card – are becoming part of Fast Track in the U.S., joining a class of leading companies like Galileo, Marqeta, and Stripe bringing the total number of enablement partners to more than 20 globally.

●  Female Founders: Visa is committed to the advancement of women’s economic growth. Visa’s investment in women-owned businesses is further emphasized by the inclusion of global female-founded Fintechs, Australia-founded Airwallex, and North America-based gogo Getter and Kikoff.

●     Digital Currency Enabled Wallets: Digital currency enabled wallets have grown exponentially, with over 139 million user accounts in existence today. In support of this burgeoning market, digital currency-focused Fast Track companies including: Fold, Genesis Block and TrustToken are connecting their consumers to Visa’s 61 million merchants worldwide.

●     Consumer Finance Management: Across platforms, Visa aims to make the everyday management of money easier for consumers. Fast Track companies including EU-based Lydia and Swile, Paga in Africa, SoLo Funds in the U.S., and United Arab Emirates-based Wally are among those simplifying money management and driving Fintech app adoption in their communities.

●    Small Business Support: Visa continues to transform the B2B payments space for the digital age. UK-based digital lender Capital on Tap, which provides credit cards and loans to over 60,000 SMBs, and U.S.-based Fundation, which provides an application processing platform for banks and small business lenders, are part of the program.  Konfio, a Mexico-based startup that uses a data-first approach to enable fast credit assessment for SMBs, and Neat, a Hong Kong Fintech startup enabling SMEs to grow their business globally, are also standout members creating new B2B innovations from across the globe.

“Right now, it’s more important than ever to help small businesses navigate through unknown financial challenges,” said David Arana, chief executive officer, Konfio. “By working with Visa and through the Fast Track program, we have been able to offer small businesses access to financial services that they’re often not given, and provide options to SMEs who need credit lines to pay for necessities, which is especially important in today’s environment. We have also developed tools and market research to complement our financial services.”

“After recently joining Visa’s Fast Track program, we were able to quickly put our co-branded debit card into market in the United States,” said Will Reeves, chief executive officer, Fold. “By working with Visa, we are delivering on our mission to provide an easy way for shoppers to earn rewards in bitcoin for their everyday spending, and help our business continue to scale with the backing of Visa’s vast network and resources.”

For more information on Visa’s Fast Track program and how to join, visit here.

Comments

Post a Comment

Popular posts from this blog

British Airways launches new reward app for executive club members

British Airways has launched a brand new app for members of its Executive Club. Members can use the app to discover new ways to collect and spend Avios, find new offers and see personalised ways to spend Avios based on the member’s Avios balance. The Executive Club Reward app will complement the current British Airways app, which is designed to help all British Airways customers book and service pre- and post-travel needs. The app has a simple, intuitive design, to help members navigate its different features. These features include the ability to access and make purchases through the British Airways Avios eStore – an important way many members collect Avios. Customers can also see different ways they can spend their Avios including a helpful tool which says how many more Avios are needed until a member can book reward flights to different destinations. As well as this, customers can see the latest Avios deals, view their last five transactions, and buy Avios, view accou
Post a Comment
Read more

Column: Caleb Otieno: Make empathy a reflex

‘Empathy is about standing in someone else 's shoes, feeling with his or her heart, seeing with his or her eyes. Reflection is the means of processing thoughts and feelings about an activity, incident, or day. It gives us a chance to come to terms with our thoughts and feelings surrounding it”  People who understand how to watch, listen and observe the actions and emotions of those around them are often perceived as the most successful in life. A conscious alignment of one’s self with others starts with the development of empathy in the early years.  In the early years of life from age two to seven, young children are naturally ego-centric and are very much inclined to think mostly about themselves and their immediate needs. They are not yet ready to consider the needs and feelings of others. Developing a sense of empathy is an important developmental process for young children. It is at the heart of good relationships, and it begins with valuing others and their perspectives.  Tea
Post a Comment
Read more

Narok School benefits from a Dormitory Courtesy of Procter and Gamble

STUDENTS OF OLOIGERO PRIMARY SCHOOL POSE FOR A PHOTO WITH THE P&G TEAM AND PARTNERS OUTSIDE THE NEWLY BUILT DOMITORY Pupils of Oloigero Primary School in Narok County have a reason to smile after Procter and Gamble funded the construction of a girl’s dormitory in the school. The facility, which will accommodate 80 girls, will help support and improve the access to quality education in the area. “Access to quality education is affected by a myriad of challenges in this country. Inadequate infrastructure is one of them.  The situation is even more dire for our girls thus the reason we are here today to commission this dormitory. We believe that this facility will be a critical resource to help keep our girls in school and together with other partners we will work to ensure that we change the narrative about girls missing school due to menstruation,” said Anthony Ng’ang’a,  Associate Brand Director -Commercial Leader - East Africa at Procter & Gamble (P&G). FR
Post a Comment
Read more