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Visa Everywhere Initiative: Challenge 3

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The winner of this challenge will be chosen on the scale of impact of their solution to digitize the B2B payments value chain of India, winning a prize money of Rs. 7,00,000.

Making its grand debut in India earlier this year, Visa Everywhere Initiative is a global innovation program to drive engagement with fintechs here. It is also Visa’s largest fintech outreach programme and received an overwhelming response in its very first edition. This episode reveals the winner of the third challenge and the grand winner of VEI 2020.
With a commercial consumption expenditure valued at approximately $4 trillion, the B2B payment ecosystem in India is challenged by two factors- heavy reliance on cash and expensive & inflexible enterprise management systems. This presents a huge opportunity for fintechs to partner with Visa for structuring lending on card solutions.
The third and the final challenge of VEI focused on digitally transforming the B2B payments value chain. The three shortlisted fintechs will present their solutions in a 10-minute pitch and will be evaluated by a jury comprising of:
  • Cietan Kitney, Head of Products & Solutions, Asia Pacific, Visa
  • Arvind Ronta, Head of Products & Solutions, India and South Asia, Visa
  • Sudipto Roy, Group Head - Unsecured Assets, Cards & Payment Solutions, ICICI Bank
  • Ajay Adiseshann, Founder & CEO, Paymate
  • Latha Venkatesh, Executive Editor, CNBC-TV18
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    The first of the three finalists, Samunnati specializes in agri-value chain, that provides innovative and customized financial solutions to marginal, small & medium holders, farmers, agri-enterprises and wholesale/retailers. The second finalist, CashFlo has a pioneering supply chain finance platform that offers a neutral, fair and transparent marketplace for financiers, buyers and suppliers for supply-chain financing. The third contender, NuPay is a neo banking platform for digitization and automation of account receivables and payables for large enterprises and their supply chain.
    The winner of this challenge will be chosen on the scale of impact of their solution to digitize the B2B payments value chain of India, winning a prize money of Rs. 7,00,000. This episode also announces the grand winner of the Visa Everywhere Initiative challenge who will win an additional prize money of Rs. 28,00,000. Watch the complete episode to find out more.
    This is a partnered post.
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