The 5 fintechs included in the 6th term of the Visa European Innovation Program in Turkiye, Visa’s platform to accelerate innovative fintechs in Europe, have been announced. Fintechs selected for the 2024 period of the program are Bakiyem, Fimple, Finartz, Minted Connect and PayWall.
The newly selected startups for the 6th term of the Visa European Innovation Program, which supports innovative fintechs in Europe, have been announced.
In the Turkiye leg of the program, the fintechs selected for the 2024 period were Bakiyem, Fimple, Finartz, Minted Connect and PayWall. The selected fintechs demonstrated their business models, knowledge and passion for growth that have the potential to be internationally scalable. Fintechs will develop their solutions in the verticals of Artificial Intelligence and Next Generation Payment Experiences, Embedded Finance and Strengthening Commerce, Money Movement Flows and Sustainable and Inclusive Future, which are the new term themes of the Visa Europe Innovation Program.
The fintech program continues with a strong network in 6 European countries
The program currently continues in six European countries, including Turkiye, Italy, Spain, Portugal, Greece and Malta. Within the scope of the program, more than 90 pilot projects and commercial agreements have been contributed to the realization so far. Since the program’s launch in 2018, more than 1,200 applications have been received from more than 50 countries. Approximately 300 applications were made to the Program in the 2024 period.
In his speech at the event, Visa Turkiye General Manager Samile Mumin said, “We are happy to announce the fintechs selected for the 2024 period in the Turkiye leg of the Visa European Innovation Program, which has been running continuously for 6 years and has now proven its success. 2024 is a special year for Visa because we are celebrating the 40th anniversary of its presence in Turkiye. As Visa, we are determined to work closely with the fintech ecosystem in this new era of the Visa European Innovation Program, providing them with the necessary support to access our network, scale their businesses and pioneer the next generation of payments, just as we have been shaping the next generation solutions in payments through innovation for 40 years. I wish success to all fintechs participating in the 2024 period of the program.”
Regarding the Program, Visa Southern Europe Business Development Head Jak Telyaz said, “We see Fintechs as important players in the sector for the future of payments and commerce. We are proud to be accelerating fintechs on an international scale, with the Visa European Innovation Program turning into a regional success story in Europe. We have graduated 25 fintechs from Turkiye so far within the scope of the program. Now, 5 new fintechs have joined the strong fintech ecosystem formed around our program. We will continue to discover more fintech talents and support them in expanding into foreign markets thanks to Visa’s international network.”
Hackquarters Founder and CEO Kaan Akin said, “As Hackquarters, we believe that collaborations are at the center of innovation. We look forward to seeing this year’s fintech teams under the umbrella of the Visa European Innovation Programme, their dynamic approaches to a more inclusive, innovative and efficient future for digital payments.”
Here are the fintechs from Turkiye selected for the Visa Europe Innovation Program 2024 period:
Bakiyem: Offers new generation and functional digital payment solutions for the needs of different sectors. Thanks to its easy interface and sectoral vertical modules, companies can use Bakiyem’s payment solutions without needing technical knowledge.
Fimple: Fimple positions itself with its API-based core banking platform designed with a microservice architecture to meet new generation banking needs. It offers various advantages to customers by combining the needs of the developing banking sector with technology.
Finartz: Offers secure and user-friendly solutions that expand organizations’ payment capabilities. It supports organizations to strengthen themselves with innovative technologies with its expert fintech consultancy and continuous support services, along with ready-made software solutions such as digital wallet, payment and 3D Secure.
Minted Connect: It is an embedded finance platform that focuses on tokenizing real-world assets, with a priority on physical precious metals, providing services such as pricing, storage, payment infrastructure, licenses, and operational services to various vertical financial or non-financial applications such as investment/savings, wallets, and loyalty programs
PayWall: It is a payment orchestration that allows businesses to work with virtual POS of payment institutions and banks with a single integration. In addition to multiple virtual POS integration, it also includes financial instruments such as optimization, special payment recovery algorithms, alternative payment methods, central card storage and marketplace.
An international ecosystem that grows every year
Thanks to the content of the program, fintechs have the opportunity to meet Visa’s business partners and accelerate their path towards testing, validating and commercializing their value propositions. The program also includes a wide network of nearly 100 graduate fintech startups and more than 160 business partners. These business partners include banks and financial institutions, as well as retailers, neobanks, BaaS providers, e-commerce giants and logistics companies collaborating in the innovation ecosystem.
Source: Egirisim / Prepared by Irem Yildiz