Visakhapatnam (aka Vizag) © Wikipedia

Visakhapatnam (aka Vizag) © Wikipedia

Fintech Valley Vizag, a project championed by the Government of the State of Andhra Pradesh in India, has signed a memorandum of understanding (MoU) with Visa and Thomson Reuters.

Thomson Reuters will use the infrastructure provided by the government and local university resources to build fintech projects in the area.

Visa is expected to support projects around financial inclusion, digital adoption, help develop educational curricula, and introduce quick response (QR) and near-field communications (NFC) technologies to enable digital payments.

As Banking Technology reported earlier this month, Vizag (aka Visakhapatnam) is working hard to become a fintech hub in the near future, and these latest deals with two major players is a significant development.

By Soumik Roy, editorial contributor to Banking Technology 

  • N Chalapathi rao 24 February, 2017 at 0602

    It Is great to see the two big organisations setting up their business in the beautiful city Hope they will scale up their business in the coming years wish to see more companies coming and setting up their business at Visakhapatnam AP chief minister is doing great work in making Vizag a Fintech valley

  • Ram 25 February, 2017 at 1910

    What’s happening to the new international airport…Visakhapatnam badly needs a true international gateway to capitalize on the investments that follow good infrastructure and connectivity. Have been hearing about it in various statements of civil aviation minister …but nothing seems to have started on the ground .

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