MANILA, PHILIPPINES, 4 DECEMBER 2020 — Visa, the world’s leader in digital payments, is announcing an accelerator program for startups across Asia Pacific that are looking to expand their businesses into new markets. Visa will select an elite group of up to six startups to be part of the first program cohort. The Visa Accelerator Program will focus on creating defined commercial opportunities for the startups to collaborate with Visa and its extensive network of bank and merchant partners in the region.
The Visa Accelerator Program is designed for startups that have launched successful solutions in their home markets, but are looking towards the next stage of growth. As the engine of global commerce, Visa is uniquely positioned to help startups break into new geographies and reach new customer groups.
“In Visa’s ongoing work with the startup community, we often see companies face challenges when taking their business from a local success story to becoming a player in multiple markets,” said Dan Wolbert, Visa Country Manager for the Philippines & Guam. “There is a vibrant fintech ecosystem in the Philippines. At Visa, we have global expertise that can help startups take their expansion plans off the white board and into the real world. We encourage Philippine startups who want to partner with us to join this program so we can help them scale.”
Digital economy, small businesses, open data all key focus areas
Startups in the Visa Accelerator Program should be ready to work on some of the most pressing financial and technological opportunities in Asia Pacific. Visa is looking for startups that want to address areas such as:
- Expanding access to the digital economy to consumers and businesses that may be underserved or cash-dependent
- Supporting small businesses as they grapple with changing technology demands and the ongoing impacts of the COVID-19 pandemic
- Leveraging the growing open data environment in the region to develop more personalised banking and shopping experiences
- Developing new ways of moving money that aren’t dependent on traditional credit and debit cards
“There is no shortage of fantastic solutions coming out of the Asia Pacific, particularly the Philippine startup community. What’s most important to Visa is how we can support those solutions getting elevated to a stage where in a few months’ time they could be pitched as a commercial deal to a leading bank, retailer or technology company in the region. A big differentiator for the Visa Accelerator Program is our concentration on a small number of startups that are truly ready to unlock that next level,” said Dan.
Join the program
The Visa Accelerator Program is a new part of Visa’s broader set of platforms and activities for the startup community in Asia Pacific. With its dedication to supporting international expansion, the Visa Accelerator Program is the right fit for startups that are 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.