Visa has selected digital payments start-up Tallykhata from Bangladesh for the 2022 cohort of its visa accelerator programme in Asia Pacific. Joining a select group of five elite start-ups from across the region, TallyKhata is a digital payments platform with wallet and credit capabilities for small and micro-businesses in Bangladesh, read a press release.
"We are super excited about the opportunity to be part of the Visa Accelerator Program 2022," Dr Shahadat Khan, founder and chief executive officer, TallyKhata.
"We are excited to collaborate with them and extend Visa's experience in the payments industry to help them design solutions that meet the needs of businesses in Bangladesh," said Soumya Basu, country manager - Bangladesh, Nepal and Bhutan, Visa.Over the next six months, the start-up will work closely with Visa on creating defined commercial opportunities they can bring to Visa's extensive network of bank, merchant, government and venture partners.
Through the programme, TallyKhata aims to partner with leading banks in Bangladesh to issue a Visa virtual card for small business working capital to micro merchants. The Visa virtual card serves as a line of credit (short-term working capital loan) to be used by the MSME for direct payment to a list of approved suppliers / FMCG companies.