Applications are now open in Qatar for the 2023 edition of the Visa Everywhere Initiative (VEI)

The Visa Everywhere Initiative (VEI), a global open innovation competition where businesses present their creative ideas to address tomorrow's payment and commerce concerns, is now accepting applications for the 2023 edition in Qatar.

Winners of the VEI get cash awards as well as access to and visibility from Visa's extensive networks of partners in the banking, merchant, venture capital, and governmental sectors. The winners also gain from being recognised by one of the most prestigious and valued brands in the world.

The regional finals for Central and Eastern Europe, the Middle East, and Africa (CEMEA) will be livestreamed on TechCrunch on July 27. TechCrunch is a renowned online publication specialising on the tech sector and the startup ecosystem. The startup that triumphs in the CEMEA area will compete in the global finals, which will take place at TechCrunch Disrupt on September 19 in San Francisco.

The Fintechs Innovating in Risk Excellence, or 'FIIRE' award, will be presented for the first time this year by Visa's VEI CEMEA in the risk and security space. Through this edition, Visa and Emirates NBD are looking for international Fintech players in a variety of fields, including credit risk, fraud management, and cybersecurity. The winning Fintech will get a $25,000 reward and the chance to cooperate with Emirates NBD, a prominent banking group in the MENAT (Middle East, North Africa, and Turkey) area, following a joint evaluation by Visa and Emirates NBD executives.

According to Visa's Vice President and General Manager for Kuwait and Qatar, Shashank Singh, "The Visa Everywhere Initiative is a platform that empowers fintechs and entrepreneurs to showcase the most innovative, significant solutions in the world of payments and commerce."

"Fintechs have the ability to provide significant social benefits to the markets they operate in through their technology-driven, innovative solutions, especially when it comes to delivering financial services to individuals who have historically been underserved. At Visa, we think that having access to the digital economy promotes equitable, inclusive growth, and the VEI is a crucial tool for helping the innovators who are leading the way in this field. 

The deadline for VEI application is May 14.