(MENAFN- The Peninsula)
The Peninsula
DOHA: Visa, a global leader in payments, announced that TESS Payments will compete in the CEMEA Regional Finals of its Visa Everywhere Initiative (VEI), taking place on July 23 at 1:30p.m. Gulf Standard Time.
From over 1,400 applicants, five fintech finalists from the region have been selected for their innovative payment solutions across fraud and risk, identity and biometrics, digital wallets, open banking, embedded finance, and other key subsectors. They now stand a chance to progress to the Global Finals in San Francisco on October 28, competing for a grand prize of QR365,00 ($100,000).
Shashank Singh, Visa's Vice President and General Manager for Kuwait and Qatar, said:“The Visa Everywhere Initiative reflects our commitment to supporting start-up innovation, recognizing fintech as a driver of economic growth and financial inclusion. Fifty-eight per cent of fintechs we surveyed recently in the GCC acknowledge payments are the most prominent emerging space. VEI helps early-stage companies scale their groundbreaking solutions by putting them on a global stage, connecting them to Visa's network, and driving them to take a step forward in their growth journeys. This year's finalists truly exemplify the remarkable entrepreneurial talent in this region, and we wish TESS Payments the best of luck for the regional finals.”
2024 CEMEA Finalists
. Qatar-based fintech start-up TESS Payments is a Qatar-based smart payments solution. The fintech offers a wide range of accepted payment methods and secure and convenient payment solutions for merchants, enabling them to increase sales and cater to changing customer preferences.
Bahrain-headquartered CNPSecure, Jordan-based GamerG, South Africa-headquartered Nomanini, Nigeria-based Advantage Health Africa.
The fintech journey with Visa doesn't end with the competition, living on through key deals and connections. A prime example is Visa's recent partnership with Nigerian fintech ThriveAgric, a former regional and global VEI winner, in support of their expansion into Kenya, where they will help 10,000 farmers participate in the digital economy. Visa previously collaborated with the innovative start-up to provide smallholder farmers with cards, bank accounts, and access to more seamless disbursements.
Launched in 2015, VEI 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 extensive solutions suite. Since its inception, more than 15,000 start-ups from over 100 countries have applied, going on to raise over QR175bn ($48bn) in collective
funding.
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