{"id":33358,"date":"2022-04-11T13:25:00","date_gmt":"2022-04-11T10:25:00","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/?p=33358"},"modified":"2026-03-28T00:47:50","modified_gmt":"2026-03-27T21:47:50","slug":"visa-calls-innovative-startups-in-saudi-arabiato-enter-local-edition-of-globalvisa-everywhere-initiative","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/visa-calls-innovative-startups-in-saudi-arabiato-enter-local-edition-of-globalvisa-everywhere-initiative\/","title":{"rendered":"Visa calls innovative startups in Saudi Arabia<br>to enter local edition of global<br>Visa Everywhere Initiative"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Fintechs in KSA have until 21 April 2022 to enter competition to gain exposure and access to Visa\u2019s network, as well as win prize money of 500,000 SAR and a spot at regional finals<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><br>Riyadh, Kingdom of Saudi Arabia, 11 April , 2022: Visa, the world&#8217;s leader in digital payments, is calling fintech and payment startups in Saudi Arabia to apply to the 2022 Visa Everywhere Initiative (VEI) for an opportunity to showcase their innovative solutions and win prize money. The deadline for fintechs to submit applications to the Saudi edition of the global competition is 21 April 2022.\u00a0 Visa is partnering with Fintech Saudi for the finals event which will be held on 17 May 2022 at Fintech Saudi Hub in Riyadh.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><br>\u201cFor fintechs with solutions to some of today\u2019s commerce challenges, Visa\u2019s Everywhere Initiative is where they need to be. It\u2019s a great platform to gain exposure and have a chance to work with Visa in building solutions that power seamless money movement everywhere.\u00a0 I\u2019m excited about this year\u2019s competition and looking forward to seeing the many innovative solutions from fintechs here in Saudi Arabia,\u201d said Ali Bailoun, Visa\u2019s General Manager for Saudi Arabia.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2022\/04\/visa-1_ssict_1200_800.webp\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2022\/04\/visa-1_ssict_1200_800-1024x683.webp\" alt=\"visa 1_ssict_1200_800\" class=\"wp-image-33359\" srcset=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2022\/04\/visa-1_ssict_1200_800-1024x683.webp 1024w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2022\/04\/visa-1_ssict_1200_800-300x200.webp 300w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2022\/04\/visa-1_ssict_1200_800-768x512.webp 768w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2022\/04\/visa-1_ssict_1200_800-1080x720.webp 1080w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2022\/04\/visa-1_ssict_1200_800.webp 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><br>\u201cFintech Saudi supports the development of industry collaboration required for local fintechs to thrive. We are therefore delighted to partner with Visa on this important initiative to help drive the growth of the fintech industry in Saudi Arabia. We encourage fintechs and innovative startups to participate in the Saudi edition of the Visa Everywhere Initiative and look forward to hosting the top submissions at the finals event next month,\u201d said Nejoud Al Mulaik, Director of Fintech Saudi.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><br>This year\u2019s program has expanded to include startups that are using cryptocurrency and Visa Direct, a payment solution that can help businesses move money to billions of endpoints worldwide via card and account rails, in innovative ways.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><br>Breakdown of total Saudi Arabia VEI prize money:<br>1st place:\u00a0 200,000 SAR ($53,000)<br>2nd place: 150,000 SAR ($40,000)<br>3rd place:\u00a0 100,000 SAR ($27,000)<br>Audience favorite award: 50,000 SAR ($13,000)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><br>In addition to receiving prize money at the VEI finale for Saudi Arabia, the winner will have a guaranteed spot at the Central and Eastern Europe, Middle East and Africa (CEMEA) regional finals on 8 June 2022 to compete for a total of 170,000 SAR ($45,000). The CEMEA regional winner will then move on to the global finale in November 2022 where up to 640,000 SAR ($170,000) in total prize money will be awarded.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fintechs in KSA have until 21 April 2022 to enter competition to gain exposure and access to Visa\u2019s network, as well as win prize money of 500,000 SAR and a spot at regional finals Riyadh, Kingdom of Saudi Arabia, 11 April , 2022: Visa, the world&#8217;s leader in digital payments, is calling fintech and payment [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":33360,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"1","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":24,"_extra_hide_author_box":"","_extra_featured_post":"","_partner_post_id":0,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-33358","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized 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