The Dhaka Times Desk Visa, the world's leading digital payment technology company, has selected Talikhata, a digital payment startup from Bangladesh, for its Visa Accelerator Program in the Asia Pacific region this year.
Joining a select group of five leading startups across the region, Talikhata has become a leading digital payment platform by enabling wallet and credit capabilities for small and micro businesses in Bangladesh. It will contribute to financial inclusion by providing lines of credit and raising working capital and innovating new ways to operate small businesses.
Startups will work closely with Visa over the next six months; Through which they will work to create business opportunities across Visa's extensive network of bank, merchant, government and venture partners.
Through this program, Talikhata will partner with leading banks in Bangladesh to issue a Visa virtual card for small business enterprises to raise micro business capital. Visa Virtual Card acts as a line of credit (short-term working capital loan), which can be used by MSMEs to make direct payments to approved and listed suppliers/ FMCG companies.
In this regard, the founder and CEO of Talikhata. Shahadat Khan said, “We are very happy to have the opportunity to participate in the Visa Accelerator Program 2022. In partnership with Visa and local banks, we are developing innovative credit products for small businesses. Leveraging Visa Rails and Talikhata transaction data and credit scoring, we can provide fast and easy access to digital credit to Bangladesh's 1.1 million small businesses.”
Soumya Basu, Visa's country manager for Bangladesh, Nepal and Bhutan said, “Bangladesh's vast and growing business sector needs innovative solutions like Talikhata to move forward. to extend their cooperation and visa experience in making payments; Besides, we are very interested in providing such design solution experience to meet the needs of Bangladeshi business organizations.
We aim to work together to accelerate the digitization of the value chain and drive the growth of the economy to new heights.” He added, “This accelerator program will help the Visa startup community overcome key hurdles; Which will help them to take their unique heights in the local market and region. More than 30 percent of fintech firms globally issued Visa credentials last year; Which almost doubled their payment volume. By combining the capabilities of Visa and the expertise of startups in our global network, together we can create new innovative experiences and more individuals and businesses in the digital economy.
I can connect institutions.”
The Covid-19 pandemic has accelerated everyone's journey towards a digital future-oriented world. In 2022, the startups in this program will also face some significant financial and technological challenges that have arisen in recent years. Four other institutions located across the Asia Pacific region that will join Talikhata in the program include:
● Moneytri and Perfeos are Japanese and Indian financial data aggregation platforms respectively, who are quite proficient in data aggregation and analytics. These organizations will help create an open data environment for risk and financial decision-making in the Asia Pacific region.
● Simonz is an international payment and currency exchange platform for banks, money service businesses and fintech organizations to facilitate and wide range of transactions.
● TripleA is a Singapore-based startup that provides white-level cryptocurrency solutions. This company is working on new payment innovations through the use of digital currency and blockchain technology. Visa launches accelerator program in Asia Pacific region in 2020 The program is designed for startups that have successfully launched a variety of solutions in the local market and are now looking to take their growth to new heights. The program also includes growth-stage fintechs, those above Series A and A, and long-term growth in the Asia Pacific region and ongoing operations in the region.
Committed, works on their growth.
The Accelerator Program is part of Visa's diverse range of initiatives for the Asia Pacific region's startup community. For details visit https://www.visa.com.sg/apaccelerator news bulletin.
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