Payze of Georgia is 2021 Winner of Visa Everywhere Initiative for Central Europe, Middle East and Africa (CEMEA) Region

Published in Society
Thursday, 10 June 2021 16:38

760 fintech applicants from CEMEA region entered the competition with innovative payment and commerce solutions to solve the payment challenges of tomorrow

Tbilisi, June, 10, 2021 – Visa Inc. (NYSE: V) Visa today announced the regional winners for Central and Eastern Europe, the Middle East and Africa (CEMEA) in its Visa Everywhere Initiative, a global innovation program and competition for startups and fintech companies.

First place for CEMEA and $15,000 in prize money went to Payze of Georgia. Payze now advances to the global finals being held on September 14 with $100,000 in prizes available including $50,000 for the overall winner.

Founded in 2020 by Giorgi Tsurtsumia and Kakha Gelashvili, Payze is an innovator of financial transactions, helping businesses in CIS countries accept payments from around the world through a single integration. By April 2021 Payze has been processing more than serving more than 200 merchants growing 35% month over month in gross transaction volume.

“We are excited  and proud to share that the winner of Visa Everywhere Initiative in CEMEA is originated from Georgia. The fact that the Georgian startup became the main finalist of Visa Everywhere Initiative in CEMEA among 760 applicants proves that Georgia is not only the world’s leader in contactless payments, but also has a great influence on the world’s fintech map. We are proud, that Visa, leading the way in the development of cashless economy in Georgia and the Caucasus region, is an active initiator of a such range of programs and strives to create a stable cohesion between the ideas and their implementation connecting fintech companies and traditional players of the financial system all over the world. Success attend you during the finals, Payze!”,mentioned Diana Kiguradze, Country Manager for the Caucasus region.

Also honored at the June 9 CEMEA regional finals was Safepay of Pakistan, which took the Audience Favorite award and $10,000 in prize money. 

TechCrunch is a leading online publisher focused on the tech industry, being the heart of the global startup ecosystem. As a media partner of Visa Everywhere Initiative, TechCrunch hosted the CEMEA regional finals in the live-streamed format. Thanks to their continuing support, the finalist virtually presented their solutions to the payment challenges of tomorrow to an expert panel of judges.

The expert panel of judges included:

  • Shereen Abdulla, Senior Manager, DIFC Fintech Hive;
  • Neil Caldwell, Senior Vice-President, Head of Merchant Sales & Acquisitions, Visa CEMEA;
  • Ines Rocha, Director for Financial Products, SME Finance & Development Team, EBRD; 
  • Tad Tilahun, Senior Vice-President, Head of Products and Solutions, Visa CEMEA;
  • Otto Williams, Senior Vice-President, Head of Partnerships, Innovation & DigitalSolutions, Visa CEMEA;
  • Rena Zuabi, Value Creation, Disruptive Investments, Mubadala.

 "Winning Visa Everywhere Initiative is a testament of the hard work our team is putting forward, and we are extremely proud of this achievement. It was fascinating and at the same time challenging experience competing against the best startups in the region, but it was a growth point to us as a startup which has been contributing to the process of receiving and managing online payments of any tech company or person in the CIS region. We are grateful to Visa for providing all 760 applicants in CEMEA with this unique opportunity and believe that the tools and technologies Visa offers are crucial for the further development of payment ecosystem”, told Giorgi Tsurtsumia, co-founder, Payze.

The Visa Everywhere Initiative helps fintech innovators in two ways: as a program, it plugs them into the network of startups that our product teams from all over the world access when searching for solutions; and as a competition, it gives them a forum in which to make a pitch to a panel of payments experts, win prizes and gain wider attention.

The competition is tailored to startups and fintechs with great products already in market and gaining traction - and looking for an extra push from a global, trusted brand like Visa to gain scale.

In all, five companies advanced to the CEMEA regional finals. Besides Payze and Safepay, the other three finalists were:

  • Habtamu Tadesse, Founder & CEO, ArifPay, Ethiopia
  • Alexander Grishin, Executive Director, Corp.bank, Russia
  • Michael Femi Simeon, Co-Founder & CEO, VPD Money, Nigeria

The focus of this year’s competition is on products that deliver innovative payment and commerce solutions to consumers and businesses. These encompass the market areas of: Enablers of digital services and digital issuers; Digital issuance; Value-add for merchants and/or consumers in regard to finance; and Small to medium-sized business recovery. In overall more than 2000 applicants participated in the competition.

In the global finals, which will be live-streamed on TechCrunch, Payze will compete against regional winners from Asia Pacific, Europe, Latin America and North America.

About the Visa Everywhere Initiative

The Visa Everywhere Initiative is a global, open innovation program that tasks start-ups and fintechs to solve payment and commerce challenges of tomorrow, further enhance their own product propositions and provide visionary solutions for Visa’s vast network of partners. The program launched in the U.S. in 2015 and quickly expanded into a global program with more than 7,000 participating startups. To date, startups have collectively raised over $2.5 billion in funding, and the program has been activated on six continents - touching more than 100 countries. For more information, visit visa.com

###

About Visa Inc.

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere.  As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit usa.visa.com/about-visa, visa.com.ge, facebook.com/VisaGeorgiaGE

News Release of the Visa

Read 312 times

Related items

  • Visa along with USAID Economic Security Program announces ICT Champion category winner of the Grace Hopper Award Program in Georgia

    Tbilisi, June 10, 2022 – Today, Visa in partnership with USAID Economic Security Program in Georgia distinguished Nana Dikhaminjia as a winner of the ICT Champion category and awarded with special money prize - 5 thousand Gel. Visa, as supporter organization joined the Grace Hopper Award Program in Georgia, founded by the USAID Economic Security Program in partnership with TBC Bank and UN Women. The award ceremony of the program was held on June 10 and recognized the winners in six categories of the contest.

    The winner of the ICT Champion category, Director of Digital Transformation Center at the Alte University - Nana Dikhaminjia is actively working in educational field and makes a special contribution to strengthening the role of women in the field of information and communication technologies.

    The ICT Champion Award is a special nomination, that recognizes the most accomplished professionals and changemakers in the field of ICT who are making a significant impact within the organization, the community, or the country regardless of the type of sector they represent whether it’s education, private sector, government, consulting, or non-profit.

    We are thrilled to award Nana Dikhaminjia as the winner of the ICT Champion category.  Being part of the Grace Hopper Award program corresponds our priorities to support women in tech and innovations, and advance them on a global level. Our team believes, that the winner receives our strong support and becomes a member of our big network. I am extremely happy to hand over special money prize 5 thousand Gel to Nana as our contribution in active work she does. I would like to thank to organizers for giving as an opportunity to support and empower women community in the country.” – noted Diana Kiguradze, Visa Regional Manager for Caucasus region and one of the members of the jury of established professionals assessing the nominations of the program.

    Engaging as a supporter organization in the Grace Hopper Award Program and awarding the ICT Champion category winner is another step forward for Visa in its efforts of supporting women, advancement of innovations and also, contributing to development of an equal society. All three directions are an integral part of Visa’s mission to connect the world through the most innovative, convenient, reliable and secure payments network enabling individuals, businesses and economies to thrive.

    About Visa

    Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.ge

  • Visa joins Grace Hopper Award Program in Georgia and Champions Woman in the information and communication technology (ICT) industry

    Tbilisi, April 13, 2022 - Visa became a part of the Grace Hopper Award Program in Georgia, founded by the USAID Economic Security Program in Georgia, in partnership with TBC Bank and UN Women.

    Engaging as a supporter organization in the Grace Hopper Award Program is another step forward for Visa in its efforts of supporting women, innovations and also, contributing to development of an equal society. Empowering women in the information and communication technology (ICT) industry is especially important in terms of breaking stereotypes and overcoming challenges that women are facing nowadays. Visa believes that development of the ICT industry in Georgia itself is one of the most important driving forces in the modern economic advancement, as innovative technologies play a crucial role in the reality of rapidly growing demand on digitalization.

    One of our top priorities is to spotlight and address women who face challenges and ensure they get the support needed, thus we are committed to provide equal opportunities for everyone based on professional competencies and leadership skills. Within the program we support ICT Champion category, and I believe that the winner we choose will receive our strong support, special prize and become a member of our big network.” – noted Diana Kiguradze, Visa Regional Manager for Caucasus region.

    Bearing the name of a prominent American computer scientist and computer programming pioneer Grace Hopper, whose legacy continues to inspire many, this program recognizes the contribution of women that lead to positive changes in the information and communication technology (ICT) industry. The program is supported by Gender Equality Council of the Parliament of Georgia, UGT and Majorel Georgia.

    To apply for the nominations and fill out the application, please visit www.ictwomen.ge Applications will be accepted from April 8 to May 8, the finalists will be revealed on May 30, and an award ceremony will be held on June 10.

     

    ***

    About Visa Inc.

    Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.ge

  • Visa Georgia Provides additionally 300,000 USD and joins Georgia Red Cross Society to Support humanitarian efforts in Ukraine

    Visa team in Georgia provides an instant aid donation of 200 thousand US Dollars to the Georgia Red Cross Society and 100 thousand US Dollars by double matching of all donations made by Visa card holders

    Tbilisi, March 25, 2022 – Georgia team of Visa, a global leader in digital payments, joins the immediate humanitarian response to the needs of the conflict-affected families in Ukraine and provides an additional instant fixed donation of 200 thousand US Dollars to Georgia Red Cross Society. On top of that, up to 100 thousand US Dollars by double matching of all donations made by Visa card holders on the website[1] of Georgia Red Cross Society. The final beneficiary of the amount is the Red Cross Ukraine which will deliver vital humanitarian supplies and services to those in need.

    Visa team in Georgia encourages all Georgian citizens, holding a Visa card to join the campaign along with Georgia Red Cross Society and make their contribution in delivering life-saving goods and services to conflict-affected families and individuals in Ukraine. The special fundraising online platform is established on www.redcross.ge All citizens of Georgia can easily access and raise money to support vulnerable communities facing devastation and a serious humanitarian crisis, caused by open military invasion in Ukraine.

     “Our Visa team stands on the side of kindness and peace. We believe that together we are stronger to encourage Ukrainian families and friends facing devastation hardship, help to avoid a serious humanitarian crisis. In this regard, Visa team in Georgia is proud to support the humanitarianrelief efforts of the Red Cross Society. To that end, we are providing an instant donation to Georgia Red Cross Society to be transferred to the Red Cross Ukraine and at the same time, start double matching individual donations made by Visa card holders using the Georgia Red Cross Society website. By doing so, we are encouraging Georgian citizens as longstanding friends of Ukrainian people to join the campaign and make contribution in humanitarian assistance.”  - Said Diana Kiguradze, Regional Manager for Caucasus Region, Visa.

    Georgia Red Cross Society continues to raise funds to support those in need in Ukraine. Together with Visa, we launched a fundraising campaign, Visa has already transferred 200,000 USD Dollars, which will be fully donated to the Ukrainian Red Cross. We constantly seek for fundraising opportunities. The active engagement of the business sector due to provide support for more people in Ukraine, is very important. I would like to thank Visa for this contribution and I believe we continue our cooperation in the future as well.Stated Natia Loladze, President of the Georgia Red Cross Society.

    Beyond these efforts, Visa Foundation already donated USD 2 million to support humanitarian aid to the people of Ukraine giving a grant to the US Fund for UNICEF, and an additional USD 1 million was provided by Visa through double matching of all Visa employees donations to the Ukraine response funds of UNICEF and the Red Cross.

    ***

    About Visa Inc.

    Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.ge

  • Visa Everywhere Initiative 2022 invites fintech and payment startups to showcase their solutions on a global stage

    Innovative fintech startups across Central and Eastern Europe, the Middle East and Africa are invited to sign up to gain exposure and access to Visa’s network, as well as $35 000 for CEMEA Final, and $125 000 for Global Final, in total prize money

    Tbilisi, February 1, 2022: The Visa Everywhere Initiative (VEI), a global open innovation program is inviting fintech and payment startups to showcase their innovative products and solutions, with finalists gaining firsthand exposure to key fintech stakeholders across banking, merchant, VC and government sectors. Winners of the competition will be awarded monetary prizes and the opportunity to partner with a global, trusted brand like Visa.

    This year’s 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. Finalists from across the world that are driving economic growth will converge in Qatar this November for the VEI finals.

    Fintechs and payments innovators are transforming the way consumers and businesses make payments, making it easier for more people to access the money they need when they need it – and the pandemic has seen this become more critical than ever.We are proud that the team from Georgia – Payze, became the winner of Visa Everywhere Initiative 2021 in CEMEA among 760 applicants. The fact that the Georgian startup became the main finalist of Visa Everywhere, proves development of cashless economy in the country, presents the local companies on the world’s fintech map.” said Diana Kiguradze, Regional Manager for Caucasus region.

    Past editions of VEI have given some of the most promising innovators in the payments space a shot at accelerating their growth, such as MayaSoft, a startup from Uzbekistan, one of the winners for the CEMEA region in partnership with Visa presented the first contactless payment solution in Uzbekistan based on Visa Tap to Phone technology, certified according to the requirements of the Visa Ready program in 2021. PAYZE of Georgia became the winner for the CEMEA region in the last year, for representing the best innovative payment and commerce solutions to solve the payment challenges of tomorrow.

    Competing on a global stage alongside some of the most prestigious startups in the world and, more importantly, being able to receive that global exposure and support from a trusted brand like Visa was an exceptional achievement for PAYZE,” said Giorgi Tsurtsumia, Co-Founder and Co-CEO of PAYZE (Tbilisi, Georgia) as well as 2021 VEI CEMEA Winner. PAYZE is an e-commerce-oriented fintech that enables businesses across CIS countries to accept payments from around the world through a single integration. With the support of Visa’s network and a cash prize of $25,000, the PAYZE team is busy fulfilling their vision, having processed more than 250,000 transactions across 2021.

    The competition also saw Karachi-based fintech, Safepay, win the CEMEA Audience Favorite award and $10,000 in prize money. Safepay specializes in secure payment processing for e-commerce stores and helps merchants increase checkout conversions, expedite receivables, and streamline sales by allowing their customers to pay online.

    The VEI network includes 8,500 startups from around the world, which continues to grow every year. Since its launch in 2015, the program has helped startups from over 100 countries collectively raise more than $2.5 billion in funding, addressing one of the biggest challenges faced by early-stage entrepreneurs. Every year, the scope of VEI is expanded to engage with unique startups and solve unique problems in the world of payments.

    This year, the program will have a clear focus on CEMEA, a region with tremendous opportunity for fintechs that are developing innovative products and solutions aimed at supporting the community. The latest edition of VEI sees two new editions in Egypt and Saudi Arabia, as well as the global finale in Qatar in November 2022.

    VEI is seeking innovative and ambitious entrepreneurs who are uplifting communities by solving payment and commerce challenges faced by businesses of all sizes and sectors, including:

    Enablers of digital services and digital issuers

    • Blockchain and cryptocurrency
    • Crowdfunding
    • Banking-as-a-Service
    • BIN sponsors
    • Issuer/processors
    • Program managers

    Digital issuance

    • Blockchain and cryptocurrency
    • Alternative lending
    • Personal financial management
    • Money transfer and remittance
    • Digital banking (aka neo banks)
    • Digital wallets, peer-to-peer (P2P) and transfers
    • Employee benefits
    • Payables
    • Corporate cards (aka expense management)

    Value-add for merchants and/or consumers in the finance space

    • Data and analytics
    • ID, authentication and security
    • InsurTech
    • Loyalty
    • Merchant services and tools
    • Process and payment infrastructure
    • Retail technology
    • Other

    Small- and medium-sized businesses

    • Money movement (disbursements, Intra-account, P2P vendor and payments)
    • Acceptance (e-commerce and mobile acceptance)
    • Risk management (chargebacks, etc.)
    • Brand management (Community building, etc.)
    • Other

    Visa does not acquire any equity from Visa Everywhere Initiative competitors as part of this competition.

    More information and application details are available here.

    About Visa Inc.

    Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement.

    Learn more at Visa.com.ge

  • GLOBALink | "Made in China" transportation vehicles riding into Middle East

    The luxury ferry capable of carrying 1,800 people, the smart bus with no blind zone, the subway train with "Chinese speed" and car production lines filled with Chinese brands ...

    Let's take a look at these "Made in China" transportation vehicles in the Middle East.

    Produced by Xinhua Global Service

Business News

Silk Road Tbilisi Forum 2015 has started

Silk Road Tbilisi Forum 2015 has started

Silk Road Tbilisi 2015 forum started today. Following the success of the inaugural Routes Silk Road...

Agreement between SES and GEE

Agreement between SES and GEE

A new multi-year agreement was signed between worldwide satellite operator SES and Global Eagle Ente...

Visa free regime to impose for 15 February

Visa free regime to impose for 15 February

The visa regime imposed by Georgia to Iran has been cancelled for 15 February,” -the Deputy Ambassad...

Session of Economic Council was held under the leadership of Prime Minister

Session of Economic Council was held under the leadership of Prime Minister

Plan of acceleration of infrastructural projects, financial support scheme for startups and activiti...

MOST READ

« July 2022 »
Mon Tue Wed Thu Fri Sat Sun
        1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

About

The News Agency,
NEWSDAY.GE is
a part of STARVISION
Media Group.
It made its first
appearance on the Internet..More

 

Contact

NEWSDAY Ltd.
Lechkhumi street.43

Georgia,Tbilisi

Phone: (+995 32) 257 91 11
E-mail: avtandil@yahoo.com

 

 

 

Social Media