Visa is teaming up with Bahrain FinTech Bay to boost the financial technology ecosystem in the Kingdom.
Opened last year with government-backing, Bahrain FinTech Bay is a hub
for all things financial technology, providing co-working spaces, communal
areas, workstations, hot desks, and a variety of other shared infrastructure
designed to attract international corporate innovation labs and fintech
The venture has already amassed around 100 partners and has now signed up Visa, which will focus on the development of joint innovation and educational initiatives alongside a payments focused event to discuss the latest trends in payments, e-commerce, security and risk.
Dylan Kaloo, country manager, Bahrain, Visa, says: “We look forward to working with startups and innovators to foster and potentially bring new payment experiences to life in a secure and scalable manner.”
Bahrain is one of several Middle East centres building a dedicated infrastructure to capitalise on an expected boom in fintech innovation over the coming years, propelled by a large unbanked population, VC inflows and the rapid emergence of a host of new startups.