Visa launches fintech startup challenge ‘European Everywhere Initiative’

Visa Inc, a global payments technology company, has announced the launch of its ‘European Everywhere Initiative’, a fintech startup challenge.

The fintech challenge invites startups from 19 European markets to submit ideas focused on improving payments in the local community as well as across the travel industry, as reported by FStech.

The competitors of the fintech challenge will have an opportunity to will up to €50,000 in order to support a development program along with Visa. The successful applicants will also have a chance to access Visa APIs through the Visa Developer Platform, executive mentors and technologists to help them further in developing their business ideas.

“By focusing on local community and travel experience we hope to facilitate improvements to the everyday lives of people, wherever they are. Having already witnessed success across the Atlantic, we look forward to welcoming submissions from innovative European startups looking for funding and fruitful collaborations to help them realize great ideas,” Bill Gajda, senior vice president, innovation and strategic partnerships at Visa, said.

The initiative was launched first in 2015 and is designed to payments and fintech innovation. Visa is planning to continue to host Everywhere Initiatives in North America, Latin America, and Asia, later this year.