Visa Expands Fintech Fast Track Program to Boost Financial Innovation

In a bid to foster innovation and accelerate the growth of fintech startups, Visa has announced an expansion of its North America Fintech Fast Track program, according to Finextra. Originally launched in 2019 to facilitate the integration of fintech companies with Visa’s services, the program has seen significant success, with 42 clients joining over the past year.

The expansion of the Fast Track program is set to go beyond card issuance by connecting its members to Visa’s real-time money movement platform, Visa Direct. This enhancement will enable fintech firms to develop and launch programs through their financial institutions, allowing for seamless transfers to eligible cards, bank accounts, and digital wallets worldwide.

One of the notable additions to the program is the inclusion of collaboration opportunities with Visa’s Consulting & Analytics team. Fintech Fast Track partners can now choose one project from a carefully curated selection of offerings designed to assist early-stage fintechs in expanding their portfolios and enhancing their services.

Moreover, Visa is providing added incentives to participants by offering up to $100,000 in Amazon Web Services Activate credits. These credits can be utilized for cloud consumption, business support, and access to personalized content and offers, further bolstering the growth prospects of participating fintech startups.

Vanessa Colella, Senior Vice President, Global Head of Innovation and Digital Partnerships at Visa, expressed the company’s commitment to supporting the fintech ecosystem. She stated, «Fintechs are a vital growth engine for the payments industry, and Visa is committed to supporting their progress. The enhanced Fast Track program offers fintechs personalized tools and resources to innovate and excel. We believe this will be a gamechanger that will catalyze new growth opportunities within this community, and further our mission to uplift everyone, everywhere.»

Visa’s decision to expand the Fast Track program underscores its dedication to fostering collaboration, innovation, and growth within the fintech sector. With access to Visa Direct, collaboration with Visa’s experts, and valuable AWS credits, fintech startups in North America have an even greater opportunity to thrive and make a significant impact on the payments industry.