The “Visa Everywhere” initiative “VEI” announced the first three winners of its edition presented by Egypt, at the conclusion of its event, where “My Syndicate” company won first place and a cash prize of 500 000 pounds to compete in the final for the Central Region Eastern Europe, Middle East and Africa “CEMEA”; The “My Syndicate” company also won the special prize based on the audience’s vote and received an additional prize of £ 100,000.
The company “ZealPay” won second place and received a cash prize of 350 thousand pounds, while the company “The Association” won third place to receive a cash prize of 250 thousand pounds, in addition to opportunities to work with a reputable global brand like Visa.
And she explained in a statement that the support of companies building and developing solutions to support the smooth movement of funds everywhere is a top priority for Visa, as it is the global “Visa Everywhere” initiative for the first time in Egypt launched, in partnership with the Fintech Egypt Center. It is an initiative of the Central Bank of Egypt (CBE) to give Egyptian FinTech innovators the opportunity to meet and compete globally with prestigious start-ups and FinTech innovators worldwide.
The “Visa Everywhere” initiative experienced a huge turnout in Egypt as it received 270 applications, which included prominent names of emerging companies, and 20 of them were shortlisted, ending with five companies that participated in the final round.
“Visa Everywhere” is one of several initiatives launched by Visa in collaboration with the Financial Technology Center of the Central Bank of Egypt as part of its plans to develop the financial ecosystem on a larger scale, encouraging the acceptance of digital payments and improve consumer education efforts in the region.
The “Visa Everywhere” initiative is also a globally accessible innovation program that invites beginners in the field of financial technology and payments to present their innovative products and solutions, while finalists will have the opportunity to share knowledge make with representatives of major financial technology. stakeholders in the banking and investment sectors, traders and government sectors.
“Fintech companies and other payment innovators are changing the payment method that consumers and businesses use for their various payments, making it easier for more and more people to access their payments,” said Laila Sarhan, regional director and vice president of Visa’s business. to lead in North Africa, Levant and Pakistan.people the money they need at any time.
She explained that the growing demand from customers for easy and secure payment solutions has made the search for innovative solutions more important than ever. We congratulate the first winner “My Syndicate” and thank everyone who participated in the competition, and we hope that this program will provide participating companies around the world with a golden opportunity to explore the global financial technology landscape and innovative payment solutions, and we look forward to supporting them in their future endeavors, and we are pleased to sincere gratitude to the members of the jury and our distinguished guests. ”
In turn, Malak Al Baba, General Manager of Visa Egypt, said: “I am very proud of Egypt’s placement on the global and regional financial technology map through this initiative, and the successful and leading presentation of the ‘Visa Everywhere’ – initiative in Egypt, and our exceptional winners, confirming Visa’s belief in the promising potential for new businesses in Egypt.
She told her gentlemen that the first place winner “My Syndicate” is a joint property of a woman, indicating the ability of women to excel in the field of financial technology, and their ability to quickly and powerfully enter to grow the business world. and finance; It is at the heart of Visa’s strategies to promote women’s empowerment and drive diversity and inclusion. ”
Dina El-Fouly, co-founder and head of product management at “My Syndicate”, confirmed her pride in being part of this amazing initiative, taking place in Egypt for the first time, and there is no doubt that winning first place places a huge responsibility on us to represent Egypt in the semi-finals.
I would like to thank Visa and the FinTech Center for giving us the opportunity to connect with fintech leaders and share our ideas with top companies in the world of economics. We are very excited and look forward to seeing our beloved Egypt ‘ to represent an international scale. ”
The Visa Everywhere network includes 8,500 start-ups from around the world, and continues to grow every year; Since its launch in 2015, the program has helped beginners from more than 100 countries raise more than $ 2.5 billion in funding, addressing one of the biggest challenges for early-stage entrepreneurs.
Visa Everywhere expands every year to communicate with unique beginners and solve unique problems in the world of payments; Visa does not receive any financial interest from competitors in the Visa Everywhere initiative as part of this competition.