25 November 2017
visit www.avoka.com

Visa Europe opens innovation hub

01 May 2015  |  21591 views  |  2 Golden egg in nest

Visa Europe has launched an innovation hub, promising to help startups build payments-related technologies and services, with the best being rolled out to the card giant's member banks, retailers and consumers.

The hub, Visa Europe Collab, is aiming to take at least 20 ideas in its first year and put them through a 100-day "innovation funnel," that will go from initial scoping and qualification, through market testing and design to proof of concept.

The best "validated and commercially viable services" will be handed back into the main body of the Visa business and further developed so that they can be commercially rolled out.

The hub will initially be based in London but will be extended to other innovation hotspots like Tel Aviv and Berlin. A network of partners, including design agency Seren, Cass Business School, and accelerator Digital Catapult, has also been established.

"It's not about acquiring start-ups or buying stakes: instead, we're giving Europe’s most innovative companies access to the mentoring, services and R&D of a community of like-minded organisations that want to transform the relationship citizens have with payments," says Steve Perry, founder and co-creator, Visa Europe 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."

Separately, Visa Inc is expanding its tech research capabilities under the leadership of Min Wang, a former senior scientist and researcher at Google, HP Labs China and the IBM Watson Research Center. Visa Research Labs will focus on applied science and deep research, working with academics, think tanks, governments and security experts on new technologies relate to payments.

Comments: (2)

A Finextra member
A Finextra member | 01 May, 2015, 09:43 Poor old Dr Perry. Two year ago he thought he was going to be CEO. And now he is running a little lab in East London. Very cruel.
Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
A Finextra member
A Finextra member | 01 May, 2015, 11:14

Very interesting for the fintech community. Look forward to seeing what comes out of the funnel

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related company news


Related blogs

Create a blog about this story (membership required)
visit https://www.niceactimize.comvisit www.solutions.lexisnexis.comvisit www.capgemini.com

Top topics

Most viewed Most shared
Sepa instant payments goes liveSepa instant payments goes live
10970 views comments | 46 tweets | 79 linkedin
ING brings data privacy to blockchain transactionsING brings data privacy to blockchain tran...
9532 views comments | 25 tweets | 37 linkedin
hands typing furiouslyHow Fintech Companies are disrupting the C...
8197 views 0 | 20 tweets | 9 linkedin
Axis Bank uses Ripple to open new payment corridors between the UAE and SingaporeAxis Bank uses Ripple to open new payment...
8132 views comments | 8 tweets | 22 linkedin
UK Open Banking expanded to cover all PSD2 productsUK Open Banking expanded to cover all PSD2...
7820 views comments | 21 tweets | 47 linkedin

Featured job

Find your next job