Last February, Visa publicized the expansion of its 15-year project Fintech Fast-Track program in the Central and Eastern Europe, Middle East and Africa (CEMEA) region. The giant credit card brand aims to create a hub supporting the upcoming generation of digital payment solutions and creative industries.
The program has been rolled out in the UAE, Europe, Asia Pacific and Latin America… as well as Lebanon as of March 28, when the Fintech Meet-Up event was organized in partnership with Beirut Digital District (BDD). The event gathered venture capital players, accelerators, fintech (financial technologies)companies, banks, and incubators to “chart a roadmap for establishing an ecosystem that fosters innovation and creativity to spur the growth of digital economy,” as mentioned in the event announcement, facilitate the integration process with the global electronic payments network VisaNet and provide a set of customized digital solutions and growth capacity.
The Fast-Track program initiative is to support fintech and startup companies through investment, partnerships (payment platforms and fintechs collaborate with Visa to create new consumer and merchant experiences) and engagement (Visa Everywhere, an innovative global program, tasks startups to solve challenging matters of payments and commerce).