TallyKhata selected for this year's visa accelerator programme

Visa, the world leader in digital payments, has selected digital payments start-up Tallykhata from Bangladesh for the 2022 cohort of its Visa Accelerator Programme in Asia Pacific, has said a press release.

Joining a select group of five elite start-ups from across the region, Tallykhata is a leading digital payments platform with wallet and credit capabilities for small and micro-businesses in Bangladesh.

It will support financial inclusion by developing new ways for small businesses to access credit lines and working capital.

Over the next six months, the startups 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.

“We are super excited about the opportunity to be part of the Visa Accelerator Program 2022. We are developing innovative credit products for small businesses in collaboration with Visa and the local banks. Leveraging Visa rails and TallyKhata transaction data and credit scoring, we will enable quick and easy access of digital credit for the 11 million small businesses in Bangladesh,” said Shahadat Khan, founder & CEO, TallyKhata.

“The dynamic business landscape of Bangladesh calls for exciting and innovative solutions like 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. Together, we aim to help scale the economy and accelerate the digitization of the value chain,” said Soumya Basu, country manager - Bangladesh, Nepal and Bhutan, Visa.