April 23, 2021: TAG from Pakistan has announced it has joined Visa’s Fintech Fast Track program in the Central and Eastern Europe, Middle East, and Africa (CEMEA) region. This program makes it quicker and easier for Visa’s fintech partners to build and deliver new commerce experiences on Visa’s payments network.
TAG is a fintech targeted towards millennials that would allow users to open mobile wallets, make P2P cash transfers, make online purchases, and pay bills. As part of the Visa Fintech Fast Track program, the two companies will work together to further financial inclusion in Pakistan by offering fully digital banking and payments to anyone with a smartphone.
“One of the make-or-break factors for fintech is the speed with which they roll out services. Visa’s Fintech Fast Track program, through its vast network and technology, would allow us scalability, reduced time to market, and a seamless experience for the customers in Pakistan we – together with Visa – aim to reach over the next 5 years and look forward to serving as a full-fledged digital bank,” TAG Chief Executive Officer Talal Ahmad Gondal said.
“By joining Visa’s Fintech Fast Track program, fintech like TAG gain unprecedented access to Visa experts, technology, and resources,” said Otto Williams, Vice President, Strategic Partnerships, Fintech and Ventures, CEMEA at Visa. “Fast Track lets us provide new resources that rapidly growing companies need to scale with efficiency. We’re delighted to welcome TAG into our program and look forward to supporting their mission of providing underserved segments of the Pakistan population access to convenient and secure digital payments.”
TAG will also be part of the Visa Direct ecosystem accepting transactions from Visa issuers across the world to pay freelancers and digitize home remittances for Pakistan.
Kamil Khan, Visa’s Country Manager for Pakistan, said: “We are delighted to support TAG in enhancing their offerings with Visa Direct, our real-time push payments service that powers a seamless payment experience coupled with faster settlements for transactions. Using our APIs, TAG can implement Visa Direct at speed and scale and reduce time to market significantly to begin offering their customers the convenience of simple, quick and secure payments.”
The Visa Fintech Fast Track program makes it easier for fintechs to access the global Visa payments network. The program is part of Visa’s global strategy to open our network and support a broad range of players that are developing new commerce experiences. The fintech fast-track program provides strategic investment, a new commercial framework that includes eased access to Visa’s payment capabilities and streamlined processes to support companies of different sizes and at different growth phases.