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Visa Canada forms partnership with global accelerator and venture capital firm Plug and Play。As a founding sponsor, Visa is committed to helping Plug and Play gain a foothold in the Canadian market.。The partnership aims to create a platform where fintech innovation can flourish through collaboration。

Canada's fintech sector is experiencing unprecedented growth and is expected to grow at an annual rate of 25% by 2029.。Visa's partnership with Plug and Play offers fintech companies the opportunity to leverage the scalability and security of Visa's global network, which is expected to expand this growth.。

Visa's initiatives in advancing fintech

Chris Ferron, Head of Digital Partnerships and Finance at VisaCanada, said: "Fintech can inspire and drive innovation.。They can enhance our ability to help customers reach new audiences and challenge us constructively, and Visa welcomes fintech companies large and small.。"

"As a leader in digital payments, we work with fintech companies to shape the future of payments through strategic partnerships and product offerings to help drive payments technology and user experience.。We look forward to working with Plug and Play to advance FinTech's mission to make the flow of money easier。"

In addition, Visa is committed to strengthening the payments ecosystem through projects such as the Fintech Fast Track Program.。The initiative includes working with approved fintech start-ups to give them the tools and insights they need to quickly bring new payment solutions to market.。

Recently, Visa reportedly completed its acquisition of cloud-based fintech startup Pismo in a deal worth $1.2 billion.。The deal, announced in November 2023, enables Visa to expand its offerings into core banking and card processing solutions.。

Visa's Acquisition and Web3 Initiative

Pismo's suite of cloud-native APIs and microservices enable banks to develop and launch digital banking products that span everything from account opening to payments and card issuance。Visa sees acquisition of Pismo as gateway to core banking, card issuance and real-time payment capabilities for customers through modern cloud APIs。

The move marks Visa's move beyond card payments and reflects the company's commitment to providing a wider range of financial infrastructure services.。With the rapid development of online banking and mobile banking, traditional payment systems are facing challenges, which creates opportunities for modern platforms such as Pismo。

In addition, Visa's recent foray into the Web3 space with the launch of Visa Web3 Loyalty Engagement further broadens the company's product range.。This digital loyalty solution was developed in collaboration with SmartMedia Technologies and combines Web 2 and Web 3 technologies。