Visa Europe Collab, Visa Europe’s international innovation hub, is working with London-based retail and fashion accelerator TrueStart to explore payment innovations in the retail sector.
Under the terms of the partnership Visa Europe Collab and TrueStart will work together to recognise payment innovations, hear start-ups’ pitch ideas, as well provide mentoring and networking opportunities.
Visa Europe Collab will support TrueStart’s entrepreneurs who are working on payment related technologies by providing advice on issues such as security and authentication, as well insight on how to integrate their products in the payment ecosystem.
“We are giving some of Europe’s most innovative companies access to the mentoring, services and R&D that will enable them to flourish,” said Rebecca Floyd, Community and Partnerships Director, Visa Europe Collab.
TrueStart says it expects to fully invest in 20-30 companies by the end of 2016.
Visa Europe launched the innovation hub in May 2015 and will ultimately operate out of London’s Tech City, Tel Aviv and Berlin. The first hub opened in London, whilst the Tel Aviv hub was launched at the end of May, and Berlin’s will open in July.
The hub provides start-ups and entrepreneurs with mentoring and insights, as well as tools and industry connections that will help them to create innovative payments technology.
The chosen start-ups will be put through the hub’s 100-day process, from initial scoping all the way through to proof of concept.
“TrueStart’s entrepreneurs will have a unique opportunity to collaborate with the very best minds in the payments landscape alongside TrueStart’s other expert partners to ensure they succeed in the highly competitive modern retail landscape,” continued Rebecca Floyd.
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