Live competition at Mobile World Congress challenges five start-ups
to bring payments to the Internet of Things
BARCELONA, Spain--(BUSINESS WIRE)--Feb. 27, 2017--
MOBILE WORLD CONGRESS – Today, Visa announced that the Everywhere
Initiative, an innovation program designed to encourage the
development of the “next big thing” in payments, will expand into
Europe. Entrants in Visa’s first-ever European Everywhere Initiative
will have the opportunity to compete for a chance to win up to €50,000
to support a development program with Visa, or through business
partnership with Visa’s clients, and potentially have access to Visa
APIs, executive mentors and technologists. In addition to this new
European program, Visa will also continue to host its Everywhere
Initiatives in North America, Latin America and Asia in 2017.
“In a highly dynamic industry, Visa’s Everywhere Initiative
allows us to explore a host of ideas that solve business challenges,
influence our product roadmaps, support our customers, and shape our
culture of innovation,” said Shiv Singh, senior vice president of
innovation and strategic partnerships, Visa Inc. “Every time we expand
this program into a new region, we aim to attract talented entrepreneurs
with fantastic ideas to the payments space, and we hope to see similar
great outcomes in the European market in the months ahead.”
Beginning in March 2017, Visa will invite eligible participants in
Europe to submit their business solutions that apply to one of the
following three briefs:
Local Community Challenge: How can digital payment technologies
help create products that connect people and enrich local communities?
Regional Intercity Challenge: How can mobile technologies and
connected devices transform the experience of intercity travel?
International Travel Challenge: How can new products and
services, based on Visa APIs, deliver a more seamless international
Find more details about the competition here.
Live Competition at Mobile World Congress
To introduce the first-ever European Everywhere Initiative, Visa
is hosting a live competition at Mobile World Congress on February 27,
with five emerging technology companies competing for a €25,000 cash
prize. These companies include:
Allows NFC payment and authentication based on vein pattern technology
via a Bluetooth-enabled watch. Biowatch is based in Switzerland.
Develops smart straps which, when attached to any watch, tracks a
persons’ body vitals. Maintool is based in France.
Helps consumers quickly find parking spaces in surrounding parking
garages, with a simple monthly payment option. Evopark is based in
Offers a cloud-based platform for IoT solutions, with scalable
back-end services like server management, data replication, and
storage. Wia is based in Ireland.
Provides a Wi-Fi-based connected button which allows consumers to
instantly buy products and services from merchants and other service
providers. Kwik is based in Israel.
Judges of the competition include Alejandro Agag, CEO of Formula E
Operations; Jean-Claude Deturche, senior vice president at Gemalto; Mark
Antipof, chief officer of client engagement at Visa; Avin Arumugam,
senior vice president of Internet of Things at Visa; and Shiv Singh,
senior vice president innovation and strategic partnerships at Visa.
About Visa’s Everywhere Initiative
Visa's Everywhere Initiative is an innovation program designed to
encourage the “next big thing” in payments, as the payments industry
shifts from plastic to digital and new entrants join traditional
stakeholders in payments. The program first launched in the U.S. in 2015
and to-date, nearly 1,000 start-ups have collectively raised $1.7
billion in funding, with ultimately 60 finalists and 14 winners selected.
Visa Inc. (NYSE: V) is a global payments technology company that
connects consumers, businesses, financial institutions, and governments
in more than 200 countries and territories to fast, secure and reliable
electronic payments. We operate one of the world’s most advanced
processing networks — VisaNet — that is capable of handling more than
65,000 transaction messages a second, with fraud protection for
consumers and assured payment for merchants. Visa is not a bank and does
not issue cards, extend credit or set rates and fees for consumers.
Visa’s innovations, however, enable its financial institution customers
to offer consumers more choices: pay now with debit, pay ahead with
prepaid or pay later with credit products. For more information, visit https://usa.visa.com/
View source version on businesswire.com: http://www.businesswire.com/news/home/20170226005199/en/
Source: Visa Inc.