Doha: Applications are now open in Qatar for the 2023 edition of the Visa Everywhere Initiative (VEI), a global open innovation competition that sees startups pitch their innovative solutions to solve tomorrow’s payment and commerce challenges.
In addition to monetary prizes, VEI winners gain access and exposure to Visa’s vast networks of partners in the banking, merchant, VC, and government sectors. The winners also benefit from receiving recognition from one of the world’s most trusted and valuable brands.
The Central and Eastern Europe, Middle East and Africa (CEMEA) regional finals will be livestreamed on July 27 on TechCrunch – a leading online publisher focused on the tech industry and the startup ecosystem. The startup that wins at the CEMEA region will participate in the global finale, which will be held on September 19 at TechCrunch Disrupt in San Francisco.
This year, Visa’s VEI CEMEA is set to introduce for the first time an award in the risk and security domain - Fintechs Innovating in Risk Excellence, or ‘FIIRE’, award. Through this edition, Visa in partnership with Emirates NBD are scouting for global Fintech players across fraud management, cybersecurity, and credit risk, among others. Following a joint review by Visa and Emirates NBD representatives, the winning Fintech will receive a $25,000 prize and an opportunity to work with Emirates NBD, a leading banking Group in the MENAT (Middle East, North Africa and Turkey) region.
“The Visa Everywhere Initiative is a platform that empowers fintechs and entrepreneurs to showcase the most ground-breaking, impactful solutions in the world of payments and commerce,” said Visa’s Vice President and General Manager for Kuwait and Qatar Shashank Singh.
“Through their technology-driven, innovative solutions, fintechs have the potential to offer broad social benefits to the markets they operate in – particularly when it comes to providing financial services to those who have traditionally been underserved. At Visa, we believe access to the digital economy drives equitable, inclusive growth, and VEI is an important means of supporting the innovators playing a leading role in this space.”
The application deadline for VEI is May 14.
