AIFC and Visa announce the launch of the biggest programme - Visa Everywhere Initiative in association with AIFC

AIFC and Visa announce the launch of the biggest programme - Visa Everywhere Initiative in association with AIFC

Astana International Financial Centre (AIFC) and Visa have signed a letter of intent, in which they agreed to launch Visa Everywhere Initiative powered by AIFC, the largest regional programme in Kazakhstan and Central Asian countries for the development of Fintech innovations.
The partners of the program will be Alfa Bank, Beeline, Centras Insurance, Halyk Bank, Home Bank Credit, Wooppay, Forte Bank, KMF, KPMG in Kazakhstan and Central Asia, Zaman Bank, Kazpost, Al Hilal Bank.
“Visa is a global leader in various segments of the payment market, therefore, combining the efforts of AIFC and Visa in our region is natural. Our joint efforts will ensure the development of the financial ecosystem in the region and will help the AIFC become the key Fintech node in Central Asia. Due to the wide partnership with Visa, we will be able to offer fintech companies in the region unique conditions and opportunities for starting and dynamic development of business. This applies to both major financial players and Fintech start-ups,” - says Kairat Kaliyev, Chief development officer of the AIFC.
“We have signed a memorandum of understanding with the AIFC in September 2017. This was our starting point for cooperation in the joint development of fintech ecosystems in Kazakhstan and Central Asia. Today we are pleased to expand our partnership and launch the Visa Everywhere Initiative in partnership with the AIFC. This program is aimed at identifying and supporting Fintech solutions that are relevant to the market, which can help improve the experience of customers and partners. I am sure that combining the international experience of Visa and the local experience of the AIFC will lead to the development of the Fintech industry in Central Asia,” says Vera Platonova, Senior Vice President and Director of the Visa regional division in the CIS and South-Eastern Europe.
The aim of the programme is developing innovative projects in the field of fintech, discovering energetic and motivated specialists, as well as assisting in the joint launch of new financial services.
New and successful entrepreneurs, corporate employees, programmers, mobile app developers, designers, interface designers, as well as anyone who has ideas for creating a promising product will be able to compete for the opportunity to cooperate with customers and partners, access to mentoring support from experts of partner companies of the programme.
Applications for participation in the Visa Everywhere Initiative in association with AIFC are accepted from March 13 to April 30, 2019. The final stage of the programme will be held as part of the Astana Finance Days forum in Astana on July 5, 2019. The key criteria for selecting winners will be the uniqueness of the solution in the given areas and customer experience, feasibility of the projects considering the existing opportunities, and scalability over a large part of the market. 
For more information about the competition, as well as to apply for participation visit: http://fintech.aifc.kz/everywhere-initiative.  

 

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AIFC. In December 2015, the President of the Republic of Kazakhstan, Nursultan Nazarbayev, signed the Constitutional Law on the establishment of the Astana International Financial Centre (AIFC). The goal of the AIFC is to create a leading centre of financial services at the international level. For the first time in the post-Soviet space, the principles of English law are introduced; the official language of the financial centre is be English.

The objectives of the AIFC are to assist in attracting investments to the country's economy by creating an attractive environment for investing in financial services, developing the securities market of the Republic of Kazakhstan, and ensuring its integration with international capital markets. The AIFC also intends to develop insurance, banking and an Islamic finance market in the country.

Visa Everywhere Initiative — Visa’s global startup support programme to promote innovation and business projects to help solve local market challenges and create new consumer products and services. The programme was first launched in the United States in 2015, and to date, almost 1,000 startups collectively have attracted $ 1.7 billion in funding. 60 of them eventually reached the final, and 14 became the winners.

Visa Inc. (NYSE: V) is a world leader in digital payments. The mission of Visa Inc. is to unite the world through the most innovative, reliable and secure payment network, which allows consumers, business and the economy as a whole to develop systematically. The latest global technology network VisaNet provides reliable and secure payments worldwide and can process more than 65,000 transactions per second. Visa pays great attention to innovation, which is a catalyst for the rapid growth of “connected commerce”, under which virtually any connected device is able to make payments, and thus brings the transition to a future without cash - for everyone and everywhere. As the transition from analogue to digital technology occurs, Visa uses its brand, products, experts, network and scale to transform commerce.