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Visa unveils innovation center for Latin America

Visa’s Miami Innovation Center will serve as a collaboration gateway for the Latin American region.
Visa’s Miami Innovation Center will serve as a collaboration gateway for the Latin American region.

Visa on Monday unveiled its Miami Innovation Center, aimed to serve the Latin America region. The center is the fourth opening for the financial services giant, following rollouts in San Francisco, Dubai and Singapore.

The center, decked out with collaborative spaces, moveable desks, whiteboards and giant high-definition screens, will allow its financial institution and merchant clients to collaborate more easily with software developers as they create, test and launch new payment technologies. Those include digital solutions for the large unbanked population, said Eduardo Coello, CEO for Visa Latin America. In such a setting, a meeting with Latin American clients could quickly turn into a pilot project, he said. In February, Visa opened up its platform to outside developers for the first time.

The 2,700-square-foot center, on the first floor of Visa’s Doral offices at 1004 NW 65th Ave., also serves as a showcase for Visa technologies. Those include the latest advances in biometric security, digital shopping and a connected car that could allow users to make car-related purchases from the seat, even buying the car itself.

Coello also said he hopes the center will enable more involvement in Miami’s tech community. In April, Visa sponsored an eMerge Americas hackathon, and the top two winners from the hackathon showcased their concepts — both aimed at teaching financial literacy to children while offering practical ways to manage their allowances, savings and transactions — at the innovation center’s opening on Monday in front of a roomful of Visa clients.

Visa’s Latin American headquarters in Miami employs about 400 people, a spokesman said. Another 500 employees are part of Visa’s South Florida call center.

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