Visa, a Foster City, California-based multinational financial services corporation, as per recent reports, has announced entering into a partnership agreement with Bahrain FinTech Bay, the leading FinTech Hub in the Middle East, on supporting innovation and educational initiatives, with a prime focus on payments.
Reports are that the year-old Bahrain FinTech Bay – which recently celebrated its one year anniversary since its launch last year, in Feb. 2018 and is a part of the Fintech Consortium’s global hub network, which includes Silicon Valley and Singapore – is pretty much “excited” about this deal.
According to CEO Khalid Saad, “As Bahrain and the region’s fintech ecosystem continues to develop coupled with Bahrain FinTech Bay’s deepening connections to global centers of fintech innovation, the partnership with Visa will be instrumental in furthering this development.”
Current plans reportedly include a payments-focused event that will be exploring the latest trends in payments, e-commerce, security, and risk.
According to Visa’s Country Manager for Bahrain, Dylan Kaloo, “We are really thrilled to partner with Bahrain FinTech Bay and for the opportunity, it presents to us to support the Bahrain fintech ecosystem. We look forward to working with start-ups and innovators to foster and potentially bring new payment experiences to life in a secure and scalable manner.”
The Bahrain FinTech Bay, which was established just over a year ago with a goal to drive forward innovation and entrepreneurism in the region, now comprises of around 100 partners from the finance, technology, public and education sectors.