Latin American Fintech Startups, there is a new reason to celebrate! Visa has decided to launch its most ambitious competition in Latin America: Visa’s Everywhere Initiative is a Fintech startup competition designed to accelerate innovation in payment functionalities and financial services, bringing together Latin American entrepreneurial talent to create cutting-edge solutions.
Nobody doubts that technology-based startups are transforming the financial services and payments industries around the world. Latin America is not immune to this trend, as Fintech startups from across the region are improving the access and provision of a wide range of financial services and payments, both for banked and unbanked segments of the population. Through access to Visa’s APIs and by taking advantage of Visa’s functionalities, startups from across Latin American have a unique opportunity to develop innovative products and services that will benefit consumers and companies from the region. To this end, Visa has launched this competition in Latin America for the first time in order to identify those Fintech startups capable of transforming the financial services industry in the region.
Participants of the regional edition of Visa’s Everywhere Initiative will have the opportunity to compete for a prize of $50,000 and collaborate with Visa to create a trial program of their winning idea and contribute to develop the future of payments. Through this program, Visa is creating a framework for active collaboration across the region linking the Fintech community with banks and merchants who are seeking to build new payment solutions. Visa’s Everywhere Initiative is currently available in North America, Europe, Asia, and now Latin America.
Visa’s Everywhere Initiative will travel across Latin America with Visa’s Everywhere Initiative Semifinals, in association with Finnovista. These small, local events will look to identify the 10 most innovative Fintech startups capable of meeting the needs of the local market. By mid-July, 50 semi-finalists will be divided into five groups of 10 startups to participate in semi-final events in Mexico City, Buenos Aires, Santiago, Bogota and Sao Paulo. The ten finalists will travel to Miami to participate at Visa’s Everywhere Initiative final, held at FINNOSUMMIT on November 9. Previously, they will participate in a four-day immersion program at Visa’s Miami Innovation Center, where they will receive mentoring and coaching from Visa subject matter experts and other industry leaders.
FINNOSUMMIT, the largest and most-successful Fintech conference in Latin America is coming to Miami for the first time on November 9th, offering its 300 attendees the opportunity to hear first-hand about the most innovative technologies and business models that are revolutionizing the financial services and payment industries in Latin America, and how traditional industry players should address these changes. They will share this experience with the most influential entrepreneurs, industry executives, innovators in financial services and payments, and investors from across the region.
During the event we will listen to the main innovations of Latin America’s Fintech startups through the presentation of the 10 finalistas of Visa’s Everywhere Initiative. The most innovative Fintech startup in Latin America will be selected at the final, winning a $50,000 prize and the opportunity to collaborate with Visa in the future of payments.
All interested startups wanting to participate in the competition can apply until July, 14th at the Visa’s Everywhere Initiative website by clicking in the following link:
If you want to know more about each of the semifinals that will take place in Mexico City, Buenos Aires, Santiago, Bogota and Sao Paulo click HERE.