QIWI Group and Visa Fintech have selected seven best teams on the basis of internal examination of projects that have applied to participate in the track Finance & Banking Technologies Accelerator GenerationS by RVC. In the coming months, the teams will take an intensive training program in corporate accelerator and have the opportunity to implement joint projects with companies.
The list of Finance & Banking Technologies of track finalist projects includes:
LinergoServis Housing allowance — relationship management system with the residents and businesses of electronic payments for utilities and energy suppliers.
The Corporate Accelerator Finance & Banking Technologies GenerationS will be open until 28 February 2017. The teams will be able to modify their product in constant interaction with a potential customer and to test the business model and prepare the project for its successful entering the market. The accelerator program will include consultations, workshops and webinars for sales, marketing and raising finance will be organized; the work with industrial partners, developing skills and building technology business partnerships will be carried out. The authors of the best projects will be able to get an international internship in Luxembourg.
The final accelerator stage will be DemoDay, where the projects will be presented to the investment committee of Visa and QIWI and where the decision on continuation of cooperation will be made.
The accelerator participants offered a lot of bright ideas that might be of interest to the participants of the payment market. It is pleasant to note that among the submitted projects there were also some financial literacy initiatives. This area is especially important for the development of the payment industry, because it helps the people develop various financial instruments and the use of more modern payment methods. We are hoping that the training program in the corporate accelerator helps the teams to create working prototypes as a result", said Mikhail Batuev, director of innovation of Visa Department in Russia.
QIWI — the leading payment service of a new generation in Russia and the CIS, which owns the integrated payments network that makes it possible to make payments via all types of communication channels: physical, the Internet, and mobile. It includes more than 16.5 million virtual wallets and more than 163,000 terminals and payment points. Every month, via QIWI, trading companies accept payments (in cash and in electronic form) in excess of 71 billion rubles from over 58 million clients who use the network at least once a month. QIWI Customers can use cash, prepaid cards and other cashless payment methods to order and pay for goods and services, using physical and electronic payment instruments alternately.
Visa is a global payment technology company that connects consumers, businesses, service companies, financial institutions and governments in more than 200 countries with a fast, secure and reliable e-payment network. Electronic payments are made through the global innovation processing system VisaNet, which is capable of handling more than 65,000 transactions a second, with fraud protection for consumers and guaranteed payments for merchants. Visa is not a bank, does not issue payment cards, does not establish commissions or interest rates for consumers and does not lend any credits to cardholders. In turn, Visa's innovations enable financial institutions to offer their customers a wide range of financial instruments, including debit, prepaid and credit card products. For more information, go to www.visa.com.ru and @VisaRussia.
GenerationS — the largest start-up accelerator in Russia and Eastern Europe, the federal corporate platform for the development of acceleration tools. It has been held by RVC since 2013.
More than 20 Russian companies, in whose interests the selection and acceleration of start-ups is carried out, become Industrial partners of GenerationS on an annual basis. As a result of the multi-stage examination, the GenerationS participants receive ample opportunities for business development and investment promotion, and to get access to resources and infrastructure of accelerator partners. In 2016 alone, 4,237 applications from 30 countries were submitted to participate in GenerationS. The GenerationS-2016 prize fund will amount to 15 million rubles. the total value of prizes from partners will exceed 100 million rubles, www.generation-startup.ru