Visa has launched a $100 million investment program to support the fin-tech ecosystem in Europe and grow its investment in start-ups.
Visa has made investments global fin-tech companies including Klarna, solarisBank and Payworks in Europe. European FinTech investment totalled around $4.7 billion in 2017, according to KPMG.
“The introduction of new regulation, combined with changes in consumer behaviour and technology developments create opportunity for new and existing payment companies to deliver more seamless, simple and secure payments,” Charlotte Hogg, Visa CEO for Europe, said at the Money 20/20 conference in Amsterdam.
Visa also said FinTech start-ups based in Europe can onboard to Visa’s global network in four weeks. The new FinTech fast-track program offers reduced fees to help early stage start-ups gain access to the capabilities of Visa’s global network.
Visa will partner with providers to sponsor start-ups who wish to participate in the program and offer consumers and merchants innovative digital commerce experience.
The program will launch in July, initially focusing upon UK-based start-ups who can register their interest now at www.visaeurope.com/fintech. Additional European markets will be added soon with a view to global expansion of the program.