Visa recently started inviting start-ups to compete in the company’s second annual The Everywhere Initiative.
In partnership with start-up ecosystem company, KITE, Visa is posing three real-life business challenges to the start-up community to create innovative solutions that solve Visa business problems and drive the future of commerce.
According to a provided statement, the selected winner of each challenge will receive $50,000 to be used towards the real-world production of their solution and mentorship from Visa marketing, product and technology teams over a year-long period to help bring their solutions to life.
The Visa Everywhere Initiative was created in 2015 to drive strong business outcomes by harnessing the creativity and talent from within the start-up community. Last year’s contest focused on developing new marketing and communications approaches that would engage millennials and drive adoption of Visa Checkout.
“With payment and marketing innovation happening at break-neck speed, Visa is once again asking the start-up community for their best ideas to help move the industry forward,” said Shiv Singh, senior vice president of digital and marketing transformation at Visa. “With Visa’s rich set of APIs and SDKs, we are especially excited to see how our open platform can help fuel additional payment innovation with this year’s challenges.”