Open Call Application FAQs

Visa is announcing an open call for startups to be part of the Visa Accelerator Program 2024. Visa is looking for startups across Asia Pacific that are looking to unlock their growth potential and scale across the region.

Through the six-month program, startups will get the opportunity to work with Visa’s payments experts, product architects and business development teams to rapidly co-develop, test, and iterate new solutions. They will also be able to leverage Visa’s extensive network of financial institutions, merchants and digital partners to pursue tangible go-to market opportunities. 

Visa is looking for startups with proven solutions who are looking to unlock their growth potential and scale across the Asia Pacific region. Growth stage companies with long-term commitments to Asia Pacific and established operations in the region are welcome to apply. Startups should also have at least a nine-to-12-month runway and have sufficient resources available for proof of concept testing.

Yes, non-English speaking startups in Asia Pacific are welcome to apply. However, applications will be in English and some basic understanding of English will be required. If they require language support, please reach out to the Visa Innovation team.

Yes, startups can still apply for the program if they fit the program criteria. We encourage startups to indicate the projects they are already working with Visa on, and/or who from Visa referred them to the program during their application submission.

Applicants for the Visa Accelerator Program can only work exclusively with Visa on their solutions. Startups who have previously been part of other accelerators/incubators are welcome to apply.

Startups undergo a preliminary screening based on key criteria such as their stage of growth, the nature of their solution, and startup size. High potential startups will be shortlisted for a first round of selection interviews. Startups that have made it past the preliminary and interview rounds will then be invited for a further demo call. Final selection of startups for the program will be made in consultation with Visa representatives and leadership.

All startup applicants will receive notification if their application was successful or not. High potential startups that do not make the final selection will also be documented and highlighted to relevant teams to ensure that Visa continues to engage with these startups.

Open call for applications will be from 8 January 2024 till 8 March 2024. Selected startups will be in the program for six months, running from May to November 2024. The program will conclude with a Demo Day for startups to present their solutions to Visa’s clients and partners.

Startups will work with Visa’s payments experts, product architects, and business development teams towards a proof of concept and business case pitch where they would consider a range of outputs across product, design and technology workstreams. This could include items such as a service blueprint and solution architecture for the new solution, a proof of concept test report, as well as a commercial model and go-to-market plan.

Visa defines a proof of concept as a scoped experiment which demonstrates the feasibility of a solution/business plan. Essentially, it is an experiment that shows how what’s being built would succeed in the real world. Its exact scope varies from startup to startup, but typically involves a limited scope for testing within a controlled environment.

The Visa Accelerator Program is specific to Asia Pacific. It targets growth stage startups at the that have a market-tested solution. The program runs over six months, focusing on the development of a proof of concept and a business case that will be pitched to Visa stakeholders and Visa’s partners for potential follow up collaboration opportunities. Startups from the Visa Accelerator Program in Asia Pacific would also be actively channelled towards other ongoing fintech engagement models such as product development, commercialisation/partnerships, or corporate development.

The Visa Everywhere Initiative (VEI) is a global innovation competition targeted at startups that focuses on solving the payments and commerce challenges of tomorrow and provide visionary solutions for Visa’s vast network of partners. 

Fintech Fast Track is a commercial engagement and partnership designed to bring fintechs into Visa’s network in a variety of different areas. The Fintech Fast Track program targets fintechs that are looking to issue Visa cards or those that are looking to facilitate money movement through Visa Direct.

We see enormous opportunity and runway for growth as we continue accelerating innovations in payments. We are not just identifying the problems and potential implications but want to bring in more ideas for creative solutions. 

Partnerships are very important for success, which is why we are looking for startups to collaborate with to address some of the biggest opportunities in payments today and create products and solutions that better reflect the needs of our clients across Asia Pacific. For Visa to be nimble, we need to tap on the creativity and speed that startups bring. We can help startups through the Accelerator by de-risking innovation initiatives, so they can focus on real-world applications of the solutions. We can also help startups drive efficiency through a limited scope and defined timeline, in addition to a staged process where ideas can be validated quickly.

At Visa, we aim to drive the next wave of momentum for global payments collectively across the industry. Our goal is to enable money to move seamlessly and safely and build positive payments experiences across every Asia Pacific market and around the world. 

To do this, the Visa Accelerator Program will support participants in a range of ways:

• Scale of network: Facilitate introductions to Visa’s network of clients and partners as well as access to Plug & Play’s global mentor network
• Mentorship: Dedicated Visa sponsor and product lead to champion their startup
• Technical knowledge: Technical support to enhance and deploy their solution, supported by expertise from Visa’s solution architects
• Business development: Tailored path for each participant to continue engaging with Visa over the longer term after the program concludes. This could include follow-on pilots, partnerships and commercialisation opportunities
• Funding: Equity-free funding support of up to US$50,000 for running the proof of concept and building out the solution, which can be requested by a participant and which will be made available at Visa’s discretion in one or more payments

The Visa Accelerator Program is designed to rapidly test for collaboration opportunities with Visa and its partners. We endeavour to identify a post-program engagement model for each startup, whether a startup goes on to engage in a commercial agreement or investment. However, this is not guaranteed, and would be dependent on a range of factors including the outcome of its proof of concept test, as well as business requirements at the time.

Each startup will retain full ownership of all intellectual property that it owns or has created prior to, or independently of, the Visa Accelerator Program – this is deemed to be their Background IPR. Only any net new IP that is created and documented during the program will be deemed to be joint IPR of both Visa and the startup, subject to a mutual cross licence.

You may share the Accelerator website www.visa.com.sg/apaccelerator and application form with the startup.

Plug & Play is the Visa Accelerator Program’s agency partner and will be supporting Visa in managing startup recruitment and selection, mentorship for startups, as well as for program management of workshops and key events such as Demo Day.