Tuesday, February 28, 2017
BARCELONA, Spain--(BUSINESS WIRE)--Feb. 27, 2017-- MOBILE WORLD CONGRESS – Today, Visa announced that the Everywhere Initiative, an innovation program designed to encourage the development of the “next big thing” in payments, will expand into Europe. Entrants in Visa’s first-ever European Everywhere Initiative will have the opportunity to compete for a chance to win up to €50,000 to support a development program with Visa, or through business partnership with Visa’s clients, and potentially have access to Visa APIs, executive mentors and technologists. In addition to this new European program, Visa will also continue to host its Everywhere Initiatives in North America, Latin America and Asia in 2017.
“In a highly dynamic industry, Visa’s Everywhere Initiative allows us to explore a host of ideas that solve business challenges, influence our product roadmaps, support our customers, and shape our culture of innovation,” said Shiv Singh, senior vice president of innovation and strategic partnerships, Visa Inc. “Every time we expand this program into a new region, we aim to attract talented entrepreneurs with fantastic ideas to the payments space, and we hope to see similar great outcomes in the European market in the months ahead.”
Beginning in March 2017, Visa will invite eligible participants in Europe to submit their business solutions that apply to one of the following three briefs:
Find more details about the competition here.
Live Competition at Mobile World Congress
To introduce the first-ever European Everywhere Initiative, Visa is hosting a live competition at Mobile World Congress on February 27, with five emerging technology companies competing for a €25,000 cash prize. These companies include:
Judges of the competition include Alejandro Agag, CEO of Formula E Operations; Jean-Claude Deturche, senior vice president at Gemalto; Mark Antipof, chief officer of client engagement at Visa; Avin Arumugam, senior vice president of Internet of Things at Visa; and Shiv Singh, senior vice president innovation and strategic partnerships at Visa.
About Visa’s Everywhere Initiative
Visa's Everywhere Initiative is an innovation program designed to encourage the “next big thing” in payments, as the payments industry shifts from plastic to digital and new entrants join traditional stakeholders in payments. The program first launched in the U.S. in 2015 and to-date, nearly 1,000 start-ups have collectively raised $1.7 billion in funding, with ultimately 60 finalists and 14 winners selected.
Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead with prepaid or pay later with credit products. For more information, visit https://usa.visa.com/ and @VisaNews.
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