Visa has announced two new programmes designed to support European FinTech firms, including the launch of a $100 million investment fund.

The focus of the investment programme will be on supporting startup firms that are innovating in the Open Banking space and those using emerging technologies to create secure commerce experiences.

Visa has already made a series of FinTech investments globally including Klarna, solarisBank and Payworks in Europe. Additionally, several payment platforms and FinTechs are collaborating with Visa to create new consumer and merchant experiences, including Contis, EVRY, Jaja, Revolut and Wirecard.

The payments firm also announced a fast-track initiative for startups to onboard with Visa within four weeks. Visa will work with providers to sponsor startups who wish to participate in the programme, offering consumers and merchants new digital experiences.

Scheduled to launch in July, the programme will initially be working with UK-based startups before launching to additional European markets in the coming months.

“The introduction of new regulation, combined with dramatic changes in consumer behaviour and rapid technology developments, have transformed Europe into a region where new commerce ideas are born every day,” said Charlotte Hogg, chief executive of Visa Europe, speaking at the Money 20/20 conference in Amsterdam.

“This creates an incredible opportunity for new and existing payment companies to deliver more seamless, simple and secure payments that people demand.”

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