The accelerator will aim to support a minimum of 20 business ideas through its 100 day process, with the best and most commercially viable concepts developed into fully grown services by Visa, and rolled out to Visa member banks, retailers and consumers across Europe.
The programme will offer innovative start-ups in financial technology (fintech) insights, tools and connections to help advance payment technologies and services for consumers.
After its initial run in London, Visa Europe Collab will open in other global innovation hubs including Tel Aviv and Berlin.
Founder and co-creator of the scheme, Steve Perry, commented: “Visa is in a unique positionto help innovators develop and scale their ideas.
“Now, through our innovation hub, we are creating a network of partners and a community that will help us provide the mentoring, advice and experience start-ups and entrepreneurs need to get their ideas off the drawing board and into the commercial world.”