Visa takes fintech competition global, focusing on women

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In a new, global twist to its ongoing Visa Everywhere competition, Visa is targeting female entrepreneurs who are looking for the right technology to solve their payment-related business problems.

Companies with at least one female founder are invited to dream up ways to transform consumer or commercial payments—or solve issues that have social impact—for the chance to win one of two $100,000 prizes, Visa announced this week.

The program builds on Visa’s five-year-old Visa Everywhere Initiative (VEI) offering cash prizes and mentorship for entrepreneurs, Visa said in a press release. The program leverages Visa’s recently announced support for She’s Next, a global platform to nurture female small-business owners, co-hosted by handbag designer Rebecca Minkoff’s Female Founder Collective.

The VEI Women’s Global Edition will gather solutions women submit for either the payments or social-impact challenge through April 14, with 12 finalists to be selected from all major global regions. At a final competition in Paris on June 7, participants will get a chance to network with Visa’s global partner network and attend the opening game of the FIFA Women’s World Cup taking place in France.

Visa on March 25 will close submissions for the general-audience version of Visa Everywhere, in which the card network will select four finalists who proposed solutions to one of three payments-related business problems. One overall winner will receive $25,000 and mentorship from Visa execs toward developing a pilot program for their proposed solution. Visa Everywhere has awarded prizes in the competition each year since 2015.

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