Visa has announced an accelerator programme for startups across Asia Pacific that are looking to expand their businesses into new markets.

Partnering with global venture firm 500 Startups, Visa will select an elite group of up to six startups to be part of the first programme cohort. The Visa Accelerator Programme will focus on creating defined commercial opportunities for the startups to collaborate with Visa and its extensive network of bank and merchant partners in the region.

The Visa Accelerator Programme is designed for startups that have launched successful solutions in their home markets, but are looking towards the next stage of growth.

“In Visa’s ongoing work with the startup community, we often see companies face challenges when taking their business from a local success story to becoming a player in multiple markets. Visa has global expertise that can help startups take their expansion plans off the white board and into the real world.”

said Chris Clark, regional president, Asia Pacific, Visa.

Visa is looking for startups that want to address areas such as expanding access to the digital economy to consumers and businesses that may be underserved or cash-dependent.

Visa is also looking for solutions supporting small businesses as they grapple with changing technology demands and the ongoing impacts of the COVID-19 pandemic

Besides that, it is also looking at startups that leverage the growing open data environment in the region to develop more personalised banking and shopping experiences.

Startups developing new ways of moving money that aren’t dependent on traditional credit and debit cards will also be considered.