Visa’s New Innovation Lab In Tel Aviv To Tap Into FinTech Startups

By NoCamels Team February 13, 2018 2 minutes

VisaTLV. Courtesy

February 13, 2018 | Visa announced that it is launching a new innovation studio in Tel Aviv this week, which will serve as a shared space for the US multinational corporation to work with Israeli FinTech startups “developing the next generation of payment solutions,” Visa said in a statement. The studio will be located at Visa’s offices on Rothschild Boulevard in Tel Aviv, in the heart of the city’s financial scene. The company announced that it has selected four Israeli companies for immediate collaboration: AU10TIX, which automates customer ID authentication and onboarding initiation; HopOn, which has developed an innovative mobile payment and ticketing platform for public transportation; Idomoo, which offers personalized video as a service platform, and which in partnership with Arkia Israeli Airlines and Visa launched a local marketing campaign that addressed passengers with personalized videos on the advantages of using a Visa card at tourism destinations; and Personetics, which offers AI-powered cognitive banking solutions that allow for personalized customer experiences. Visa has innovation studios in Berlin, Dubai, London, Miami, New York City, San Francisco, San Paolo, Singapore, and Stockholm. The Tel Aviv studio will “streamline Visa’s integration with the local fintech start-ups, and enhance the collaboration with the local venture capital funds, other fintech centers, as well as Visa partners and customers in Israel and abroad,” the company says. Shahar Friedman, the head of the new studio and the acting general manager for Visa in Israel said, “Visa’s Innovation Studio is uniquely positioned to engage with Israel’s unparalleled fintech ecosystem as a gateway to thousands of Visa clients and retailers worldwide, who look for solutions to their challenges, or new ways to differentiate themselves in their competitive landscapes.”