Tuesday, 24 May, 2022

TallyKhata selected for Visa accelerator programme

TallyKhata selected for Visa accelerator programme

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Visa has selected digital payments start-up Tallykhata from Bangladesh for the 2022 cohort of its Visa Accelerator Programme in Asia Pacific.

TallyKhata is a leading digital payments platform with wallet and credit capabilities for small and micro-businesses in Bangladesh, said a press release.

It will support financial inclusion by developing new ways for small businesses to access credit lines and working capital, said a press release.

Over the next six months, the startups will work closely with Visa on creating defined commercial opportunities they can bring to Visa’s extensive network of bank, merchant, government and venture partners.

Under the programme, TallyKhata aims to partner with leading banks in Bangladesh to issue a Visa virtual card for small business working capital to micro merchants. The Visa virtual card serves as a line of credit (short-term working capital loan) to be used by the MSME for direct payment to a list of approved suppliers / FMCG companies.

With the Covid-19 pandemic accelerating the world’s migration towards a digital-first future, the 2022 cohort will tackle some of the most pressing financial and technological issues that came to prominence in recent years.

Visa introduced the Accelerator Programme in Asia Pacific in December 2020.

Designed for startups that have launched successful solutions in their home markets and are looking towards their next stage of growth, the programme is ideal for growth-stage fintechs that are Series A and above, have a long-term commitment to Asia Pacific growth and existing operations in the region.

The Accelerator Programme is part of Visa’s broader set of platforms and activities for the startup community in Asia Pacific.