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Visa Everywhere Initiative 2022 Invites Fintech, Payment Startups to Showcase on a Global Stage

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The Visa Everywhere Initiative (VEI), a global open innovation program is inviting fintech and payment startups to showcase their innovative products and solutions, with finalists gaining firsthand exposure to key fintech stakeholders across banking, merchant, VC and government sectors.

Winners of the competition will be awarded monetary prizes and the opportunity to partner with a global, trusted brand like Visa.

This year’s program has expanded to include startups that are using cryptocurrency and Visa Direct, a payment solution that can help businesses move money to billions of endpoints worldwide via card and account rails, in innovative ways. Finalists from across the world that are driving economic growth will converge in Qatar this November for the VEI finals.

“Fintechs and other payments innovators are transforming the way consumers and businesses make payments, making it easier for more people to access the money they need when they need it – and the pandemic has seen this become more critical than ever,” said Kemi Okusanya, Vice President, Visa West Africa.

“Competing on a global stage alongside some of the most prestigious startups in the world and, more importantly, being able to receive that global exposure and support from a trusted brand like Visa was an exceptional achievement for PAYZE,” said Giorgi Tsurtsumia, Co-Founder and Co-CEO of PAYZE as well as 2021 VEI CEMEA Winner.

PAYZE is an e-commerce-oriented fintech that enables businesses across CIS countries to accept payments from around the world through a single integration. With the support of Visa’s network and a cash prize of $25,000, the PAYZE team is busy fulfilling their vision, having processed more than 250,000 transactions across 2021.

The competition also saw Karachi-based fintech, Safepay, win the CEMEA Audience Favorite award and $10,000 in prize money. Safepay specializes in secure payment processing for e-commerce stores and helps merchants increase checkout conversions, expedite receivables, and streamline sales by allowing their customers to pay online.

The VEI network includes 8,500 startups from around the world, which continues to grow every year. Since its launch in 2015, the program has helped startups from over 100 countries collectively raise more than $2.5 billion in funding, addressing one of the biggest challenges faced by early-stage entrepreneurs. Every year, the scope of VEI is expanded to engage with unique startups and solve unique problems in the world of payments.

This year, the program will have a clear focus on Central and Eastern Europe, the Middle East and Africa (CEMEA), a region with tremendous opportunity for fintechs that are developing innovative products and solutions aimed at supporting the community. The latest edition of VEI sees two new editions in Egypt and Saudi Arabia, as well as the global finale in Qatar in November 2022.

VEI is seeking innovative and ambitious entrepreneurs who are uplifting communities by solving payment and commerce challenges faced by businesses of all sizes and sectors, including:

Enablers of digital services and digital issuers

  • Blockchain and cryptocurrency
  • Crowdfunding
  • Banking-as-a-Service
  • BIN sponsors
  • Issuer/processors
  • Program managers

Digital issuance

  • Blockchain and cryptocurrency
  • Alternative lending
  • Personal financial management
  • Money transfer and remittance
  • Digital banking (aka neo banks)
  • Digital wallets, peer-to-peer (P2P) and transfers
  • Employee benefits
  • Payables
  • Corporate cards (aka expense management)

Value-add for merchants and/or consumers in the finance space

  • Data and analytics
  • ID, authentication and security
  • InsurTech
  • Loyalty
  • Merchant services and tools
  • Process and payment infrastructure
  • Retail technology
  • Other

Small- and medium-sized businesses

  • Money movement (disbursements, Intra-account, P2P vendor and payments)
  • Acceptance (e-commerce and mobile acceptance)
  • Risk management (chargebacks, etc.)
  • Brand management (Community building, etc.)
  • Other

Visa does not acquire any equity from Visa Everywhere Initiative competitors as part of this competition.


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E-Business

Nigeria Targeted with 4,622 Cyber-attacks Per Week in December 2025

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In December 2025, organisations globally faced sustained cyber pressure, as the average number of cyber-attacks per organisation per week reached 2 027, a 1% increase from the previous month and a 9% increase from December 2024.

This is according to December 2025 Global Cyber Attack Statistics by Check Point Research, the threat intelligence arm of Check Point Software Technologies.

According to the statistics, Latin America was the hardest hit, with companies experiencing an average of 3 065 cyber-attacks per week, a 26% year-over-year increase.

In contrast, Africa saw a decline in attacks, with Nigeria (4 622 attacks per week) and Angola (4 002 attacks per week) being the most targeted countries on the continent.

The report’s findings highlight the evolving cyber threat landscape, with ransomware and GenAI-driven data risks posing significant challenges to companies worldwide.

Ransomware attacks jumped 60% year over year, with 945 publicly reported incidents in December. Qilin was the most active ransomware operator, responsible for 18% of publicly disclosed attacks.

“Ransomware continues to scale through industrialised operations, while unmanaged GenAI usage is creating widespread data exposure at enterprise level,” said Omer Dembinsky, data research manager at Check Point Research.

The report noted the education sector was the most targeted industry globally, with 4 349 cyber attacks per week; followed by government (2 666 attacks per week); and associations and non-profits (2 509 attacks per week).

The widespread adoption of GenAI tools has introduced new cyber security risks, with one in 27 GenAI prompts posing a high risk of sensitive data leakage.

Experts warn that companies must prioritise prevention-first security, real-time AI threat intelligence and strong governance over AI tools to mitigate these risks.

Hendrik de Bruin, head of security consulting at Check Point Software, added: “Strengthening ransomware resilience, deploying AI-powered prevention and enforcing clear GenAI governance will be critical to reducing cyber risk in the year ahead.”


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Half of Global Companies Build SOCs to Enhance Cybersecurity, with a Focus on Human Expertise

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Among the primary reasons for establishing a Security Operations Center (SOC) are strengthening cybersecurity posture, enabling faster detection and response and gaining a competitive edge.

Interestingly, despite the increasing demand for automated cybersecurity solutions, businesses rely on skilled security professionals to make key decisions, as human expertise remains essential for effective security management.

A Security Operations Center (SOC) is a dedicated organisational unit responsible for continuous monitoring and safeguarding of a company’s IT infrastructure. Its core mission is to proactively detect, analyse and respond to cybersecurity threats.

To identify the main drivers, strategic priorities, and potential challenges in SOC planning and implementation, Kaspersky has conducted a comprehensive global study involving senior IT security specialists, managers and directors from companies with 500 or more employees.

All participants operate without a SOC but have plans to establish one in the near future. The study spans 16 countries across APAC, META, LATAM, Europe, and Russia, providing valuable insights into the emerging trends and best practices in SOC development worldwide.

The findings of the research reveal that 50% of companies intend to establish SOCs to strengthen their cybersecurity posture, and 45% are motivated by the need to address increasingly sophisticated and dangerous threats.

Other drivers include budget optimisation, the necessity for faster detection and response, and the expansion of software, endpoints and user devices – factors that demand more comprehensive and layered security measures.

These are cited by 41% of organisations. Additionally, 40% seek better protection of confidential information, 39% aim to meet regulatory requirements and one-third (33%) expect SOC capabilities to provide a competitive edge. Larger enterprises tend to cite each of these reasons more often, reflecting the broader operational and regulatory pressures they experience.

Continuous monitoring becomes the leading SOC requirement

Among the key functions organisations plan to delegate, 24/7 security monitoring leads at 54%. This around-the-clock vigilance enables early detection of anomalies, prevents escalation and sustains cyber resilience in real-time. This demand highlights a strategic requirement for proactive risk management, as organisations aim to defend against persistent threats that can strike at any moment.

Companies intending to fully outsource SOC operations show a stronger interest in applying “lessons learned” methodologies, whereas those developing internal SOCs focus more on access management to maintain tighter control.

Human expertise drives SOC technology choices

While SOCs use advanced technology, the choices made by organisations show that human analysts are very important. Among the solutions that organisations plan to include in SOC are – Threat Intelligence Platforms (48%), Endpoint Detection and Response (42%) and Security Information and Event Management systems (40%) – sophisticated solutions that automate data collection and reduce operational load, however, they depend heavily on skilled security professionals who provide critical context, interpret complex findings and make final decisions when guiding appropriate responses.

Other solutions chosen include Extended Detection and Response (38%), Network Detection and Response (37%) and Managed Detection and Response (33%). Large enterprises tend to adopt more technologies (5.5 per SOC on average), while smaller ones integrate fewer (3.8).

“To successfully build a SOC, companies must prioritise not only the right mix of technology but also the careful planning of processes, clear goal-setting and effective resource distribution.

“Well-defined workflows and continuous improvement are essential to ensure that human analysts can focus on critical tasks, making the SOC a proactive and adaptable component of their cybersecurity strategy,” comments Roman Nazarov, Head of SOC Consulting at Kaspersky.

 


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Nigerian Terra Industries Secures $11.8m for Expansion

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Terra Industries, a Nigerian defence technology startup, has raised $11.75 million to expand its development of defensive systems that protect critical facilities across Africa.

The fundraising round was led by Silicon Valley venture firm 8VC, which was founded by Palantir co-founder Joe Lonsdale.

Other investors in the round include Valour Equity Partners, Lux Capital, SV Angel, and Nova Global, as well as African-focused funds Tofino Capital, Kaleo Ventures, and DFS Lab.

Terra Industries, founded in Abuja by Nathan Nwachuku and Maxwell Maduka, provides multi-domain security solutions for both air and land. Its solutions are intended to detect and respond to threats including terrorism, sabotage, and armed attacks on infrastructure.

The company’s product portfolio includes surveillance drones, ground-based robotic systems, and fixed monitoring towers deployed around sensitive locations.

Co-founder and CEO Nathan Nwachuku said the company has now fully embraced its identity as a defence-focused startup, citing the growing urgency of security challenges across Africa.

He said safeguarding critical infrastructure from terrorist threats has become unavoidable.

Nwachuku argues that protecting Africa’s infrastructure requires a different approach, one that combines local manufacturing, end-to-end system control, and software capable of independently identifying and responding to threats over large areas.

The company aims to position itself as a defence prime, similar to the role played by firms such as Anduril Industries and Palantir in the United States.

Nwachuku also disclosed that the company had earlier raised $800,000 in pre-seed funding.

With the new funding, Terra plans to increase manufacturing capacity within Africa, establish additional defence production facilities, and expand its artificial intelligence and software teams.

While software offices are planned for San Francisco and London, the company said manufacturing operations will remain on the continent.

 


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