NASSAU, BAHAMAS — Tech Beach (TBR LAB) has announced a partnership with Visa that will allow startups and fintech companies in The Bahamas, and other islands throughout the region, to benefit from easier access to the financial systems, scalability, reliability and security insights Visa has to offer.
The Caribbean startup accelerator has announced that it is partnering with Visa to empower the proliferation of high-growth technology business ventures by driving the development and implementation of digital payment solutions in the English-speaking Caribbean.
Startups and fintechs will benefit from easier access to the financial systems, as well as the scalability, reliability, interoperability and security insights Visa’s experience as a global payment network brings to the region’s financial technology ecosystem.
Tech Beach Founder Kirk-Anthony Hamilton said: “Our shared vision for accelerating digital transformation makes Visa a natural partner for TBR LAB.
“Joining forces empowers us to build bridges that yield increased investment, partnership and mentorship to radically transform the digital landscape of the Caribbean and emerging markets.”
As program partner, Visa will create opportunities through its Fintech Connect program to design and promote innovation and the exchange of ideas with fintechs and technology startups to accelerate the development and implementation of digital payment solutions in the region.
Visa will support businesses through the Fintech FastTrack program, which will help both new and established businesses leverage the speed, security, reliability and scale of the Visa network to get up and running quickly, taking the process from months to weeks.
The program provides turnkey access to Visa’s ecosystem partners, including licensing, APIs, as well as extensive go-to-market toolkits, online education and expert advice to help fintechs scale their business.
This partnership is part of a broader effort to drive innovation in digital payments, money movement, lending and commerce, which will ultimately result in greater digital and financial inclusion in the Caribbean.
– Jorge Salum, Visa
Jorge Salum, Visa senior business development leader in the Caribbean, said: “The alliance with TBR LAB is an important step in Visa’s firm commitment to collaborate with enterprising fintechs and new technology-enabled businesses.
“This partnership is part of a broader effort to drive innovation in digital payments, money movement, lending and commerce, which will ultimately result in greater digital and financial inclusion in the Caribbean.”
Visa and TBR LAB will also work together to support and promote the Visa Everywhere Initiative, a global startup engagement program that encourages startups to solve payment challenges of tomorrow, further enhance their own product proposition and provide visionary solutions for Visa and its vast network of partners.
The open innovation program helps startups unlock new opportunities, and provides startups with a global platform to demonstrate groundbreaking solutions.
The program first launched in the US back in 2015 and has since expanded to every corner of the world, recruiting startups from over 100 countries. Over the past five years, more than 7,000 startups have participated, collectively raising more than $2.5 billion in funding.