The Financial Express

Visa launches programme for startups, fintech in Bangladesh

| Updated: June 12, 2021 19:01:43

-Reuters file photo -Reuters file photo

Visa, the global leader in digital payments technology, will start a new programme for startups and fintech, a shortened form of financial technology, in Bangladesh from next week.

Recognising the challenges that fintech and startups in Bangladesh often face in different stages of their journey, the program aims to help enhance their product propositions and develop better user experiences, says a press release issued on Wednesday.

“Visa’s fintech initiative for Bangladesh is a series of 12 webinar-based events starting on June 17, where fintech will get a chance to learn about tools and technology they can deploy in payments, as well as interact with leaders and subject matter experts from Visa and the startup ecosystem.” It said.

On the occasion of the launch, Soumya Basu, Country Manager of Bangladesh, Nepal and Bhutan for Visa, said, “Bangladesh is an important part of the digital commerce landscape in the Asia Pacific today where consumers and businesses are adopting innovative methods of making and receiving payments at an accelerated pace, and fintech and startups are driving this innovation by creating seamless digital experiences.”

“We are delighted to launch Visa’s fintech initiative for Bangladesh, the very first in the region, to reach out to startups and help them leverage Visa’s world-class capabilities and products to enhance their user experiences with innovative solutions.”

He noted that with Visa’s global expertise and technology, the company looks forward to partnering with the startup ecosystem and together create innovative solutions for Bangladesh.

Entrepreneurs and startup founders often find themselves tackling operational and other issues, whereas developing robust solutions, putting technology to its best use and adopting best practices from other markets are key aspects of a robust startup foundation.

“To help fintech become more efficient, agile and future-prepared, the program gives them access to technology as well as know-how across use cases like digital lending, customer verification, fraud detection and prevention etc,” the company said.

Visa has partnered with Startup Dhaka for its fintech initiative programme.

Mustafizur Rahman Khan, Founder and CEO of Startup Dhaka, said, “I am delighted to announce that Visa is about to set its steps in mentoring and assisting the startups in Bangladesh for the very first time.”

“This initiative will not only make a difference in the existing payment solutions but also help the startups to expand their connection and resources. This fintech initiative by Visa for Bangladesh is a great way to connect with the startup ecosystem” he stated.

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