Visa, Fintech District Team to promote FinTechs
Visa and the Fintech District have joined forces to help expand the FinTech ecosystem in Italy.
The Fintech District is a community of national and international stakeholders in the Italian FinTech ecosystem, according to the group’s website.
“The partnership with the Fintech District will allow us to further expand our network in Italy, giving us the opportunity to tighten our ties with the Italian Fintech scene and do our part to contribute to the growth of the sector,” Visa Southern Europe heads. FinTech Eva Ruiz Cendon said in a Monday (January 23) post on LinkedIn.
There are now more than 250 FinTechs that are members of the Fintech District, and many of them have revolutionized the payments market with new business models, Fintech District said in a Monday post on LinkedIn.
The group aims to help both Italian startups and new players from abroad by encouraging the sharing of best practices, partnerships around technology, access to international capital and communication with relevant parties in other countries, according to the website.
“We are pleased and proud to announce the beginning of our collaboration with a leading international partner like Visa,” the group said in its post. “We are sure that this is only the beginning of an exciting and constructive journey under the sign of open innovation.”
As PYMNTS reported in July, many of Italy’s FinTechs are keen to bring innovative payment solutions to businesses and consumers.
To encourage FinTech innovation in the country, Italy recently opened a regulatory sandbox, joining the other countries around the world that have done so to stimulate innovation and cultivate a new wave of startups.
Visa, for its part, has been working with FinTech startups through initiatives such as the Fintech Fast Track program, which is available worldwide and gives startups access to Visa’s partner network and experts who can help them get off the ground.
“Visa has long been active in the FinTech landscape with a variety of programs that support their growth and with an ‘open’ approach to our network that allows these innovative players to benefit from Visa’s global scale and capabilities,” said Ruiz Cendon in his LinkedIn post on monday.
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