According to its press release, Visa will select an elite group of up to six startups to be part of the first programme cohort. The Visa Accelerator Programme will focus on creating defined commercial opportunities for the startups to collaborate with Visa and its extensive network of bank and merchant partners in the region.
The Visa Accelerator Programme is designed for startups that have launched successful solutions in their home markets, but are looking towards the next stage of growth. As the engine of global commerce, Visa is uniquely positioned to help startups break into new geographies and reach new customer groups.
“In Visa’s ongoing work with the startup community, we often see companies face challenges when taking their business from a local success story to becoming a player in multiple markets,” said Chris Clark, regional president, Asia Pacific, Visa. “Visa has global expertise that can help startups take their expansion plans off the white board and into the real world.”
The Visa Accelerator Programme could have a transformative impact for startups in places like Cambodia where despite the current dominance of cash the appetite for digital payments is strong. According to the Visa Consumer Payment Attitudes Study 2020, 42 percent of Cambodian consumers expect the country to go cashless in the future. The Accelerator Programme will ensure that Cambodian businesses are equipped with the latest advances in digital payments needed to compete in this market.
“There is no shortage of fantastic solutions coming out of the Asia Pacific startup community. What’s most important to Visa is how we can support those solutions getting elevated to a stage where in a few months’ time they could be pitched as a commercial deal to a leading bank, retailer or technology company in the region. A big differentiator for the Visa Accelerator Programme is our concentration on a small number of startups that are truly ready to unlock that next level,” said Clark.
Ms. Chum Monika, Visa Country Manager for Cambodia said: “The Visa Accelerator Programme is a fantastic opportunity to fast-track deserving businesses into the digital economy. While Cambodia is home to innovative potential, startups often lack access to the required technical expertise needed to thrive. By giving them the opportunity to tap into Visa’s network of clients and partners, as well as providing them with dedicated support from Visa’s solution architects, the Accelerator Programme can help Cambodia’s brightest startups flourish beyond their own borders.” C. Nika – AKP