Innovators in the payments space can soon apply to be part of Visa Europe Collab, the company’s first innovation programme, which is opening its doors in Shoreditch.
In its first year, the company aims to take a minimum of 20 projects through its 100-day innovation funnel, from initial scoping and qualification, through market testing and design to proof of concept. The best ones will then be rolled out into the main Visa business to then be used by its member banks, retailers and consumers across Europe.
“The fintech space has never been more exciting, with everything from wearable technology to virtual reality impacting the way consumers interact with payments,” said Steve Perry, founder and co-creator of Visa Europe Collab. “For us, this made it the ideal time to launch Collab. We believe we can provide the glue that binds myriad stakeholders, such as innovators, banks, retailers, mobile operators and government together, to grow the ecosystem and ultimately deliver the best new payments services.”
Visa Europe Collab’s partners include digital consultancy Seren, Cass Business School and not-for-profit accelerator Digital Catapult. After London, the team will be going live in other innovation hubs, including Tel Aviv and Berlin.
The website where people can apply goes live next week.