Fintech Finalist for Via Everywhere Award – Gadget

The Visa Everywhere Initiative (VEI) Regional Finals will be held tomorrow (July 23, 2024) at 1:30 p.m. Gulf Standard Time and will be live-streamed on the leading online technology publication TechCrunch NewsThe finalists from Central Europe, the Middle East and Africa (CEMEA) presenting their fintech innovations include one candidate from South Africa and one from Nigeria.

From over 1,400 applicants, five fintech finalists from the region were selected with their innovative payment solutions in fraud and risk, identity and biometrics, digital wallets, open banking, embedded finance and other key sub-sectors. The startups, representing Jordan, Qatar, Bahrain, South Africa and Nigeria, now have a chance to advance to the global finals at TechCrunch Disrupt in San Francisco on 28 October, competing for a grand prize of R1,825M.

Launched in 2015, the Visa Everywhere Initiative enables entrepreneurs to unlock opportunities and build credibility by putting them on the global stage and facilitating access to Visa’s vast network of experts and broad suite of solutions. Since its inception, more than 15,000 startups from over 100 countries have applied, raising over R876 billion in collective funding.

In the lead up to this year’s regional final, Visa has organised several sub-regional events across CEMEA, including the first Levant regional edition spanning Jordan, Lebanon, Palestine and Iraq. This year’s CEMEA winners across all competitions will share a total prize pool of R6,755,000 to support their work.

Lineshree Moodley, Visa Country Head, South Africa, said: “The Visa Everywhere Initiative is a testament to our commitment to fostering innovation and supporting the next generation of fintech leaders. This year’s finalists from the CEMEA region have demonstrated remarkable ingenuity in tackling some of today’s most pressing payments challenges. It is especially exciting to see the South African startup, Nomanini among the finalists, highlighting the strength and potential of our local innovators. We look forward to seeing their continued growth and the positive impact their solutions will have on the global payments landscape.”

The fintech journey with Visa doesn’t end with competition, but continues through key partnerships and connections. A prime example is Visa’s recent partnership with Nigerian fintech ThriveAgric, a former VEI regional and global winner, to support their expansion into Kenya, where they will help 10,000 farmers participate in the digital economy. Visa has previously partnered with the innovative startup to provide smallholder farmers with cards, bank accounts and access to more seamless disbursements.

CEMEA 2024 Finalists

Meet next year Visa Everywhere Initiative 2024 finalists, who will compete to win a high-value cash prize to fund business growth:

• Based in Jordan PlayerG is a digital-first online gaming tournament platform. The startup organizes daily tournaments for cash prizes, using skill-based matchmaking technology to connect players and level the playing field. It offers convenient digital payment gateways via wallets, cards, and bank transfers.

• Based in Bahrain CnpSecurity is a turnkey digital provider that fights Card-Not-Present fraud and chargeback risks. The startup generates dynamic CVVs and virtual cards on demand, reducing the risk of CNP fraud by over 90%.

• Qatar-based fintech startup Tess Payments is a smart payments solution based in Qatar. The fintech offers a wide range of accepted payment methods and secure and convenient payment solutions for merchants, enabling them to increase sales and meet changing customer preferences.

• Based in South Africa Nomanini is a developer of a payments platform designed to connect Africa’s informal and offline retail ecosystem to digital financial services. The platform connects merchants and distributors, providing services ranging from payment orchestration and acceptance, to working capital provision and merchant analytics.

• Based in Nigeria Health Advantage Africa aims to leverage technology to improve access, affordability and quality of healthcare in Africa, through integrated pharmaceutical solutions. Their approach addresses critical issues in the drug delivery system, such as drug counterfeiting and inconsistent pricing.

Watch the Visa Everywhere Initiative Finale live on July 23, 2024 at 11:30 a.m. SAST (9:30 a.m. GMT): Italian: https://techcrunch.com/

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