Visa is bringing its Everywhere Initiative to Europe, dangling a EUR50,000 prize in front of fintech startups, inviting them to pitch ideas that link digital payments with local communities and travel.
Launched in the US two years ago and now live in Asia and Latin America, the Everywhere Initiative has seen nearly 1000 startups try their luck, offering up ideas to promote payment innovation in the digital age.
The European launch sees firms from 19 countries invited to submit plans in three areas:
- Local Community Challenge: How can digital payment technologies help create products that connect people and enrich local communities?
- Regional Intercity Challenge: How can mobile technologies and connected devices transform the experience of intercity travel?
- International Travel Challenge: How can new products and services, based on Visa APIs, deliver a more seamless international travel experience?
Startups can apply online between 19 April and 17 May, with finalists pitching to a live panel at Money20/20 in Copenhagen in June. The winner gets EUR50,000 to support a development programme with Visa, or through business partnership with the card firm's financial institution clients.
Bill Gajda, SVP, innovation and strategic partnerships, says: "By focusing on local community and travel experience we hope to facilitate improvements to the everyday lives of people, wherever they are.
"Having already witnessed success across the Atlantic, we look forward to welcoming submissions from innovative European start-ups looking for funding and fruitful collaborations to help them realise great ideas."