Innovating Money Movement Experiences: Plug and Play's Global Collaboration With Visa

Visa has joined forces with Plug and Play to showcase the innovative fintech and crypto startups that are revolutionizing the global financial services landscape. Explore the profound impact of this partnership on the future of digital payments and financial technology worldwide.

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Verticals
Fintech, Crypto & Digital Assets
2022
Year They Joined the Platform
6
Active Programs
Located
Silicon Valley, Singapore, Africa, & Canada

Commitment to Entrepreneurship and Innovation

Visa, headquartered in Foster City, California, is an esteemed American multinational financial services corporation. It facilitates global secure electronic funds transfers through its widely recognized Visa-branded credit cards, gift cards, and debit cards.

Initially launched in Silicon Valley, the partnership between Plug and Play and Visa has since expanded its footprint to encompass Singapore, Africa, and Canada. This global expansion further solidifies their commitment to nurturing entrepreneurship and driving innovation worldwide.

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“At Visa, we believe partnerships can unlock a deeper understanding of the emerging use cases in the payments ecosystem. We’re excited to partner with Plug and Play to innovate with fintechs and crypto platforms at all stages of the startup lifecycle on new money movement experiences.”

Dan Roesbery, Vice President of Global Fintech Partnerships, Visa

Timeline

08/2022 – Fintech Fast Track Program is launched in Silicon Valley
08/2022 – Crypto & Digital Assets vertical is launched in Silicon Valley with Visa as founding partner
10/2022 – Visa Accelerator Program Singapore is launched
06/2023 – Visa Inclusive Fintech Accelerator is launched in Silicon Valley
06/2023 – Visa Accelerator Program Africa is launched in UAE
09/2023 – Applications open for the Visa Inclusive Fintech Accelerator
09/2023 – Plug and Play Canada initiates partnership with Visa North America
10/2023 – Kick off for Visa Accelerator Program in Africa Cohort 1

Inception in Silicon Valley: Visa Fintech Fast Track Program

Year Founded: August 2022

Program Goals: Empower fintech companies in North America to introduce innovative payment solutions to the market

Focus Areas: Strategy Development, Portfolio Management, Product Launch

Visa took a significant step towards expanding its global influence and making a lasting impact by partnering with Plug and Play to establish the Fintech Fast Track Program (FFTP). This groundbreaking initiative reflected the perfect blend of ambition and innovation within the fintech industry. The program's main objective is to empower fintech companies in North America to introduce innovative payment solutions to the market. It all began with Plug and Play in Silicon Valley, where Visa North America joined forces with its headquarters in August 2022.

In the program, fintechs gained exclusive access to a wide range of cohort benefits. These included valuable resources, free trials of select solutions, and preferred terms with Visa's esteemed network of referral partners. By becoming a part of this vibrant community, fintechs could unlock new opportunities and seize the competitive edge in the ever-evolving fintech landscape. In summary, Visa's partnership with Plug and Play and the establishment of the FFTP signified a remarkable leap forward in fintech innovation. With their combined support, fintechs could revolutionize the payment industry and drive meaningful change on a global scale.

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"I am thrilled to witness the groundbreaking collaboration between Visa and Plug and Play. This partnership is not just about fostering innovation; it's about shaping the future of digital payments and financial technology worldwide. From Silicon Valley to Singapore, Africa, and Canada, our commitment to entrepreneurship and driving innovation knows no boundaries. Together with Visa, we empower fintech and crypto startups at every stage of their lifecycle to redefine the landscape of new money movement experiences.“

— Nadine Muehl, Head of Fintech, Plug and Play

Plug and Play Crypto & Digital Assets launch: Visa's founding partner status

Year Founded: August 2022

Program Goals: The program aims to foster collaboration between Visa and innovative crypto startups

Focus Areas: Strategy Development, Portfolio Management, Product Launch

Not only has Plug and Play facilitated connections between Visa and innovative fintech startups, but we also introduced them to some of the most promising digital assets startups in the ecosystem. Acting as a founding partner of the Crypto & Digital Assets vertical at Plug and Play, Visa played a pivotal role in the successful launch of the accelerator program. Their unwavering support, especially in the rigorous evaluation and voting processes for startups, underscores their collaborative endeavors to not only adapt to the digital economy but to shape its future trajectory actively.

The partnership between Visa and Plug and Play Crypto & Digital Assets exemplifies our shared vision of leading the way in financial innovation. Together, we are leveraging blockchain technology and digital assets to drive transformative change within the financial sector, positioning ourselves at the forefront of industry evolution.

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“At Plug and Play, we take pride in how our collaboration with Visa has exceeded expectations, expanding into new regions and making a global impact. This journey has not been about introducing cutting-edge startups but collectively navigating the ever-changing trends and challenges in the fintech and digital assets industries.”

—Maximillian Jungreis, Head of Crypto & Digital Assets, Plug and Play

Expanding horizons: Singapore

Year Founded: October 2022

Program Goals: Empower startups, unlock their growth potential, and develop their Asian market presence

Focus Areas: Global Money Movement, Web3, Embedded Finance, Merchants and SMEs, Open Banking

In Singapore, Plug and Play collaborated closely with Visa to oversee operations throughout the Asia Pacific (AP) region. Together, they expanded globally and established the Visa Accelerator Program Singapore. This program aimed to empower startups to unlock their growth potential and develop their Asian market presence, and by collaborating on joint solutions that addressed key opportunities in digital payments, startups in the program gained access to Visa's payment experts, product architects, and business development teams. Together, they rapidly co-developed, tested, and iterated on new solutions while pursuing tangible go-to-market opportunities. Throughout the six-month program, startups also benefited from Plug and Play's extensive network of financial institutions, merchants, and digital partners.

Now in its fourth year, the Visa Accelerator Program played a pivotal role in nurturing some of the most prominent startups in the Asia Pacific region. One of the program's highlights was the Visa Demo Day, where seven proof of concepts (PoCs) were showcased, covering five key areas: global money movement, web3, embedded finance, merchants and SMEs, and open banking. In addition to facilitating marketing and visibility in crucial AP markets and the fintech ecosystem, the program received an overwhelming response of over 450 startup applications, ultimately selecting seven PoC startups.

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“Plug and Play has been our corporate partner for the last two years. We have the Visa Accelerator Program, which looks to work with the best of the best of the industry, so Plug and Play comes in at our innovation arm to feed in a variety of fintechs to help address certain challenge statements.”

—Kunal Chatterjee, Head of Innovation in Asia Pacific, Visa

Even more opportunities in SV: Visa Inclusive Fintech Accelerator

Year Founded: June 2023

Program Goals: To create an inclusive platform that addresses the unique challenges faced by diverse founders in the tech industry

Focus Areas: B2B & Cross-Border Payment Platforms, Digital-First Banking Solutions, Alternative Lending Solutions, Short-Term Financing, Creator Economy and Gaming Monetization Platforms

visa_partner success story_plug and play_visa credit card in wallet

The successful past partnerships between Plug and Play and Visa paved the way for an even stronger collaboration, giving rise to the Visa Inclusive Fintech Accelerator. This exciting new partnership aimed to create an inclusive platform that addressed the unique challenges faced by diverse founders in the tech industry.

Through the accelerator, selected founders gained access to Visa's internal resources, received mentorship and tailored support from industry experts, and benefited from networking opportunities within Plug and Play's ecosystem. Furthermore, participants had the chance to collaborate closely with Visa executives, tapping into their extensive knowledge of the payments and financial technology sectors.

Dominique Reese, Head of DE&I, Plug and Play
“At Plug and Play, our commitment to diversity runs deep, and it's a journey we're all on together, both inside and out. We're not just talking about change; we're taking action. Inclusive Fintech Accelerator with Visa is a shining example of our collaboration with corporations to support our community outreach, uplift diverse founders, and enrich the tech landscape.”
Vanessa Colella, Global Head of Innovation & Digital Partnerships, Visa
“At Visa, we believe that diversity drives innovation and progress. And that by uplifting diverse founders, the communities we live and work in can better thrive. We are excited to partner with Plug and Play to launch the Inclusive Fintech Accelerator to support and uplift diverse founders.”
Saeed Amidi, Founder and CEO, Plug and Play
“We are thrilled to partner with Visa to launch this internal Inclusive Fintech Accelerator. By combining our resources, expertise, and global networks, we can create an environment that fosters the growth and success of diverse founders in the tech industry. We believe diversity drives innovation, and this program is a significant step towards creating a more inclusive ecosystem worldwide.”

Exploring opportunities in Africa & the Middle East

Year Founded: June 2023

Program Goals: To nurture emerging talent, foster collaboration, and revolutionize the future of payments and financial technology in the African region

Focus Areas: New Payment Flows, Embedded Finance, Merchant & SME Payment Solutions, Future of Finance Technologies, Payment Infrastructure Enablers, Sustainable & Inclusive Finance

As a part of Visa’s $1 billion commitment to African investments over the next five years, Plug and Play has partnered with Visa to identify fintech firms in Africa, addressing challenges and exploring growth opportunities through tech. The Visa Accelerator Program Africa, held twice a year, admits over 20 startups per session for a 12-week virtual program. It focuses on new payment flows, embedded finance, merchant/SME payment solutions, payment infrastructure enablers, and future finance technology like artificial intelligence, machine learning, and blockchain. Prioritizing sustainable and inclusive finance, the program empowers startups with resources, mentorship, and connections to thrive in the evolving digital landscape. Emphasizing innovative fintech solutions, the program nurtures talent, encourages collaboration, and transforms payment and financial tech in Africa.

Startups receive 1:1 mentoring from Plug and Play experts and access to a varied lineup of speakers and content across 10 tailored focus weeks. They also benefit from the IT perks platform, Visa training modules, and onboarding tools. Startups can showcase potential through investment reviews by Plug and Play and Visa, leading to a pitch in front of global VCs on demo day.

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“We're working with Visa across so many geographies, which is exciting. I think that the sky's the limit for the partnership. If we can prove some of these different projects we're working on in uncertain geographies, we would love to launch them in other emerging markets or places where Visa is active, especially since they’re such a global player. I think both of our firms coming together, we could do some really amazing things.”

—Jordan Bray, UAE Director in Fintech, Plug and Play

Growing the Canadian fintech ecosystem

Year Founded: September 2023

Program Goals: To foster innovation and growth in the Canadian Fintech ecosystem through strategic collaborations and partnerships

Focus Areas: Digital Partnerships, User Experiences, Payment Technology

The Canadian fintech industry is experiencing remarkable growth, with an anticipated compound annual growth rate of 25% until 2029. Through this partnership, fintechs gained access to Visa's global network, renowned for its power, scale, trust, and security. They also had exclusive opportunities to participate in interactive events that fostered learning, collaboration, networking, and the chance to forge valuable partnerships for business growth.

This collaboration offered eligible Canadian fintech firms in the payments industry the ability to leverage Visa's products, expertise, and extensive network through the FFTP, as mentioned above. Startups also gained access to exclusive events and potentially even more comprehensive programming. Plug and Play aimed to act as a "feeder" for Visa within Canada's thriving fintech landscape, contributing to Visa's continued market leadership by staying ahead of emerging trends. Additionally, they served as an extension of Visa's local innovation teams, further enhancing their presence and impact.

Chris Ferron, Head of Digital Partnerships and Fintech, Visa Canada
“As a leader in digital payments, we work with fintechs to shape the future of payments through strategic collaborations and product offerings that help push the boundaries of payment technology and user experiences. We look forward to working with Plug and Play to advance the mission of fintechs and make money movement easy.”
Ismail Khalil, Corporate Partnerships Manager, Plug and Play
“We are excited to announce our new partnership with Visa in Canada, as Plug and Play continues to be a trusted global partner. This collaboration will be pivotal in nurturing the local fintech and innovation ecosystem, fostering remarkable growth. With big plans for the future, we aim to make significant strides in our work with Visa.”

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