The newly launched innovation wing of Visa Europe, Visa Europe Collab has announced a new partnership with UK-based retail accelerator TrueStart that will see Visa Europe Collab staff help new retail focused start-ups with the relevant payment components. Under the partnership, Visa Europe Collab will provide advice on security and authentication to integration into the broader payments space.
Commenting on the new partnership, TrueStart CEO Baz Saidieh said,
“While funding is important mentoring is vital to ensuring any entrepreneurial business can grow. Payments is a fundamental part of any retail business. Adding Visa Europe Collab to our list of partners will offer our start-ups access to unrivalled payments expertise that will be invaluable in helping their businesses to grow.”
Retail is a vital part of the payments ecosystem and many of the new technologies impacting the payments space will have to rely on merchant acceptance to enable consumer use and adoption. While the startups involved in this partnership are unlikely to impact today’s use of technology by merchants, they could prove the same disruptive force that many startups are having on the payments side and by grounding them in payments knowledge through the Visa Europe Collab it might help guide future merchant payment acceptance technologies which benefit the industry, the merchant and the consumer.
Overview by Tristan Hugo-Webb, Associate Director, Global Payments Advisory Service at Mercator Advisory Group
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