Will 1,000 square feet of disruption place the credit card company at the centre of the global payments revolution?
VISA are the world’s largest payments firm, so it’s hardly surprising they want a piece of London’s Fintech action.
The opening of a 1,000 square foot space in London’s Paddington area is certainly a bold move, but not an unusual one for the company, which has already opened similar spaces in San Francisco, Singapore, Dubai, Miami, Berlin, Sao Paolo and Tel Aviv– although London’s is the biggest yet.
The centre has also gained the approval of City Hall, with deputy mayor for business Rajesh Agrawal commenting “”As a successful fintech entrepreneur myself, I understand that quite often businesses need a little bit of help to turn the kernel of a good idea into something truly transformative.”
“I am therefore delighted that Visa is launching this new innovation centre in London, bolstering our flourishing global tech and fintech reputation and proving that London is open to great ideas and innovation.”
Quite. VISA have released this video of the opening ceremony, which took place last Tuesday, and have promised to develop all kinds of “disruptive” payments related technologies, including a “connected car payments” system that will allow motorists to pay for their petrol without leaving the car, another to automatically pay London’s congestion charge, and “biometric payments” technology, which means paying for something with a simple swipe of the hand, or through facial or voice recognition technology.
VISA Europe, who merged with VISA last year, also run a startup accelerator in Shoreditch, which partners with the likes of Design Agency Seren, Cass Business School, and the accelerator Digital Catapult.
Visa also announced, at the same time as opening the centre, that it’s Visa Developer Platform was going open source, allowing techies to collaborate on creating new “secure ways to pay.”
Design. Build. Deliver – they say – could be your place to shine, devs ; )