Visa, the world leader in digital payments, has selected Singapore-based crypto payments provider TripleA to join a select group of five elite startups from the region for the 2022 cohort of its Visa Accelerator Program in Asia Pacific.
Over the next six months, the startups will work closely with Visa on creating defined commercial opportunities they can bring to Visa’s extensive network of bank, merchant, government and venture partners. Through the program, TripleA, licensed by MAS, the Monetary Authority of Singapore, aims to develop new payment innovations involving the use of digital currencies and blockchain technology.
“TripleA is delighted to be part of the Visa Accelerator Program. This partnership is a unique opportunity for businesses to tap into the growing 300 million plus crypto user community through cryptocurrency payments and payouts,” TripleA Founder & CEO, Eric Barbier, said.
“Consumers and businesses are looking for more seamless and convenient ways to pay and be paid given the huge shift to digital. At Visa, we are constantly working with our partners, including Fintechs to create new payment experiences that can scale. We are excited to share that TripleA is the first Singapore Fintech selected to be part of the Visa Accelerator Program, and together, we want to explore the potential of leveraging blockchain technology and digital currencies to drive innovation in the global money movement space. We are also proud to be able to help TripleA further expand their footprint globally and introduce them to different partners in the region,” Visa’s Country Manager for Singapore and Brunei, Kunal Chatterjee said.
With the COVID-19 pandemic accelerating the world’s migration towards a digital-first future, the 2022 cohort will tackle some of the most pressing financial and technological issues that came to prominence in recent years. The four other companies located across the Asia Pacific region that will join TripleA in the program include:
- Cymonz, an international payments and currency exchange platform based in New Zealand, will simplify and expand money movement to enable new ways to pay and be paid
- Moneytree, a financial data aggregation platform based in Japan and
- Perfios, an India-based fintech that specialises in data aggregation and analytics, will both leverage the growing open data environment in Asia Pacific to drive enhanced decision making in areas such as risk and credit
- TallyKhata, a leading digital payments platform for small and micro-businesses in Bangladesh, will support financial inclusion by developing new ways for small businesses to access credit lines and working capital
Visa introduced the Accelerator Program in Asia Pacific in December 2020. Designed for startups that have launched successful solutions in their home markets and are looking towards their next stage of growth, the program is ideal for growth-stage fintechs that are Series A and above, have a long-term commitment to Asia Pacific growth and existing operations in the region.
The Accelerator Program is part of Visa’s broader set of platforms and activities for the startup community in Asia Pacific.