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Entries open for Visa's Everywhere Initiative program

Released at: 07:08, 27/05/2018

Entries open for Visa's Everywhere Initiative program

Photo: Khanh Chi (VET)

Card payment organization calling on Vietnam's brightest startups to join the competition.

by Hong Nhung

Visa, the world’s leader in digital payments, recently launched the inaugural Visa’s Everywhere Initiative (VEI) competition in Vietnam, a program that leverages the new technology and creativity of startups to build the next big thing in payments and commerce.

VEI is a global innovation program that tasks startups with resolving payment and commerce challenges, further enhancing their own product propositions and providing visionary solutions for Visa’s vast network of partners. The program has been conducted in North America, Latin America, Europe, Asia, the Middle East and Africa, touching over 40 markets.

“Vietnam is earning a reputation internationally for being a startup hub, and when you’re here, it’s not hard to see why,” said Mr. Sean Preston, Visa Country Manager for Vietnam, Cambodia, and Laos. “The country’s rapid development in recent years has really helped bring out its entrepreneurial spirit, while an affinity for technology has helped create the perfect conditions for startups to emerge. Given this, we believe it’s the perfect time to launch VEI in Vietnam. While the economy is evolving quickly, there are still challenges to be solved, and we believe the program can help generate innovative solutions.”

Entries are open from May 24 to July 10.

Those with the most impressive proposals will pitch their idea to a panel of judges in Ho Chi Minh City on August 23. The finalists will compete for prizes totaling $16,000. In addition to the main prize, Visa will also proactively work with the startups to elevate and accelerate their value propositions in Vietnam and beyond and offer mentorship and expert support.

Visa’s Everywhere Initiative was first launched in 2015 to harness the creativity and talent within the startup community worldwide. The program has seen the participation of more than 2,100 startups since, who have collectively raised over $2 billion in funding.

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