Visa unveils five startups in 2022 cohort of its accelerator program

SINGAPORE, April 27, 2022 /PRNewswire/ -- Visa, the world leader in digital payments, has selected five startups to join the 2022 cohort of its Visa Accelerator Program in Asia Pacific: Cymonz, Moneytree, Perfios, TallyKhata and TripleA.

Over the next six months, the startups will work closely with Visa on creating defined commercial opportunities they can bring to Visa's extensive network of bank, merchant, government and venture partners.

"Through the Accelerator Program, Visa supports the startup community by giving them a leg up in one of their key challenges, which is expanding their footprint beyond their home market and into the region. By combining Visa's capabilities and the reach of our global network with the ingenuity of the startups, we can create new innovative experiences at scale," said Chris Clark, president, Asia Pacific, Visa. "Globally, nearly 30 percent more fintechs issued Visa credentials in the last year, and they nearly doubled their payments volume^[1].  Together, we can help bring more individuals and businesses into the digital economy."

With the COVID-19 pandemic accelerating the world's migration towards a digital-first future, the 2022 cohort will tackle some of the most pressing financial and technological issues that came to prominence in recent years:

• Cymonz, an international payments and currency exchange platform based in New Zealand, will  simplify and expand money movement to enable new ways to pay and be paid
• Moneytree,  a financial data aggregation platform based in Japan and Perfios, an India-based fintech that specialises in data aggregation and analytics, will leverage the growing open data environment in Asia Pacific to drive enhanced decision making in areas such as risk and credit
• TallyKhata, a leading digital payments platform for small and micro-businesses in Bangladesh, will support financial inclusion by developing new ways for small businesses to access credit lines and working capital
• TripleA, a Singaporean startup that offers white-label crypto currency solutions, will work on new payment innovations involving the use of digital currencies and blockchain technology

Visa introduced the Accelerator Program in Asia Pacific in December 2020. Designed for startups that have launched successful solutions in their home markets and are looking towards their next stage of growth, the program is ideal for growth-stage fintechs that are Series A and above, have a long-term commitment to Asia Pacific growth and existing operations in the region.

The Accelerator Program is part of Visa's broader set of platforms and activities for the startup community in Asia Pacific. For more information, visit https://www.visa.com.sg/apaccelerator

About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

Appendix

Selection of quotes from the 2022 cohort of the Visa Accelerator Program: Cymonz, Moneytree, Perfios, TallyKhata and TripleA.

Cymonz

"The team at Cymonz is very excited to be working alongside the experienced team at Visa, integrating our platform with the innovative and cost-effective Visa payment rails. The partnership will provide a highly configurable, simple to launch international payments-as-a-service platform enabling banks and financial institutions to easily stand up or upgrade their international payments offering." – Simon Lynch, Founder & CEO, Cymonz

Moneytree

"We are very excited about this opportunity, and look forward to developing innovative use cases combining Visa's expansive technology and Moneytree LINK, our market leading, privacy-focused financial data platform." – Paul Chapman, Founder & CEO, Moneytree

Perfios

"It is always exciting to be associated with a well-recognised brand like Visa. We see this as an opportunity to expose our capabilities in the cards space and gain international recognition." – Sandesh Jayarama, VP, New Business Initiatives, Perfios

TallyKhata

"We are super excited about the opportunity to be part of the Visa Accelerator Program 2022. We are developing innovative credit products for small businesses in collaboration with Visa and the local banks. Leveraging Visa rails and TallyKhata transaction data and credit scoring, we will enable quick and easy access of digital credit for the 11 million small businesses in Bangladesh." – Dr Shahadat Khan, Founder & CEO, TallyKhata

TripleA

"TripleA is delighted to be part of the Visa Accelerator Program. This partnership is a unique opportunity for businesses to tap into the growing 300 million plus crypto user community through cryptocurrency payments and payouts." – Eric Barbier, Founder & CEO, TripleA