Visa announces that the Visa Everywhere Initiative (VEI) program is seeking proposals from Latin American and Caribbean startups interested in participating in one of the most dynamic and collaborative innovation programs in the world. The global payment technology company is looking for commercially viable solutions that can scale through partnerships with banks, acquirers and businesses across the region. The 2018 edition of the program will be launched during the “eMerge Americas” conference in Miami, Florida. The Challenge: How can tech startups in Latin America and the Caribbean improve financial services by transforming payments and commerce in the region?
Eligible startups can start submitting their applications by Internet until the day June 15, 2018. Thirty-six competitors will be chosen to compete in the semifinals in Bogotá, Buenos Aires, Lima, Mexico City, Santiago (Chile) and São Paulo, between the end of August and the beginning of September. Two finalists will emerge from each event.
"Growing the startup space in the region through global programs like the Visa Everywhere Initiative is an important part of our approach to innovation," says Allen Cueli, Visa's VP Fintech Relations for the Latin America and Caribbean region. “We want to identify startups that improve the ecosystem by helping us reduce cash usage, eliminate payment friction, and develop new payment experiences. We have worked with several participants in the 2017 program and are very excited about the collaboration that is taking place. emerging".
Twelve finalists will advance to the finals in Miami and will have the opportunity to participate in a four-day immersion program, which will take place from September 30 to October 03, 2018, and to present their solutions during FINNOSUMMIT on the 4th and 5th. of October. The winner will receive a prize of US$50,000 and the opportunity to collaborate with Visa to shape the future of payments and to interact with venture capital investors and Visa's partner ecosystem.
Success achieved last year in the region
The Visa Everywhere Initiative debuted in Latin America and the Caribbean in 2017, attracting more than 250 startups from 10 countries. The 2017 champion was Increase, an Argentine startup that won with its first product, the IncreaseCard, created to simplify and modernize the way retailers control, manage and reconcile their credit card transactions.
Visa continues to work not only with the program winners, but also with the finalists and semi-finalists to bring their solutions to market across different industries and business areas.
With the finalist of the Colombian edition of VEI, Alegra, a company that produces management and accounting software for small businesses in Latin America and the Caribbean, Visa is working on a B2B project in the Caribbean.
What's new in the 2018 edition?
• This year, Visa expanded the program to include, in addition to fintechs, other types of technology startups, including companies focused on Big Data, loyalty programs, Internet of Things, mobile technologies, e-commerce, insurtech (insurance and technology), fraud management, digital identity, etc., whose solutions could be applied in the financial services industry.
• Visa will also seek to identify, among all participating startups – in parallel with the choice of semi-finalists – companies that stand out with financial inclusion solutions. There will be a special recognition for this category and the winner will have the opportunity to present their solution during the grand finale at FINNOSUMIT.
• Entrepreneurs can learn more about the Visa Everywhere Initiative in person at the various meetings that will take place in May in Bogotá, Buenos Aires, Lima, Mexico City, Monterrey, San José, Santiago (Chile) and São Paulo. Learn more about these and other news from the 2018 program.
The Latin American edition of the Visa Everywhere Initiative is organized in partnership with Finnovista, whose mission is to transform finance for a better world through entrepreneurship, technology and innovation and drive, together with Visa, the development of payment innovations. Since 2015, the Visa Everywhere Initiative has reached five continents and 40 countries, and awarded more than a million dollars in prizes and mentorship to more than 130 finalists – from companies looking to transcend the boundaries of the future to those looking to create quick implementations for payments we make in real life.
EN 
PT 
