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Visa Joins Forces With Beirut Digital District To "Fast-Track" Lebanon's Fintech Industry

This milestone paves the way for fintech startups to receive the support they need to grow.

Visa’s Fintech Fast-Track Programme was unveiled on March 28, in the first Fintech Meet-Up event organised in partnership with Beirut Digital District (BDD). This milestone paves the way for fintech startups to receive the support they need to grow.

Gathering venture capital companies, incubators, accelerators, fintech players and banks, the Visa and BDD teams invited the attendees to have open discussions pertaining to challenges and opportunities in the Fintech sector. Accordingly, the teams shared the roadmap for establishing an ecosystem to foster innovation and creativity to spur the growth of digital economy. The collaboration will channel the efforts of main stakeholders in developing the next generation of digital payment solutions.

"Our partnership with Visa is aligned with Beirut Digital District’s objective to continuously support the growth of the tech and entrepreneurial ecosystem. Fintech is expected to be a major pillar supporting the Lebanese economy going forward," Mouhamad Rabah, the CEO of BDD, told the audience members. "As such, we are proud to be engaging with a multinational company such as Visa who is a market leader in the global financial sector, and leveraging its expertise to support our community and accelerate the growth of the wider fintech ecosystem."

"We believe that fintechs are important players and Visa is actively engaging with them both globally and throughout the region," said Nabil Tabbara, General Manager for Levant, Visa. "Visa understands the complexity of the digital future and is ready to help communities embrace it through sharing knowledge and best practices. Through our Fintech Fast-Track programme, we are committed to reducing the time, complexity and cost of working with Visa, allowing the next generation of payment innovators to grow their businesses and create new customer experiences."

With the Visa Fast-Track programme, fintechs based in Lebanon can now onboard to Visa’s global network in as little as four weeks. The programme is tailored to the needs of fintechs, adapting to their realities and providing them with processes that are faster, which include reducing the number of on-boarding conditions. The programme also links fintech entrepreneurs to platforms that are certified by Visa and connects them to sponsoring banks, offering scaling opportunities through Visa’s global network. 

 

 


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