Visa has chosen TallyKhata, a digital payments start-up from Bangladesh, for the Visa Accelerator Program in Asia Pacific’s 2022 cohort.
TallyKhata, a leading digital payments platform with wallet and credit capabilities for small and micro-businesses in Bangladesh, has joined a select club of five exceptional startups from across the region, according to a press statement.
It will promote financial inclusion by providing additional credit lines and working capital to small firms. The entrepreneurs will work closely with Visa over the next six months to develop specified business prospects that they can present to Visa’s broad network of banks, merchants, governments, and venture partners.
TallyKhata hopes to cooperate with prominent banks in Bangladesh to issue a Visa virtual card to micro-merchants for a small business operating capital.
The Visa virtual card is a line of credit (short-term working capital loan) that the MSME can use to make direct payments to a list of approved suppliers and FMCG firms.
Sources for more details:
