Visa launches new innovation hub at London HQ

US financial services giant Visa has launched a new technology centre in London.

The 10,000 sq ft innovation hub will allow the company to explore the application of new digital tech, including virtual reality and the internet of things (IoT), in the real world.

According to a report by Computer Weekly, the Visa Innovation Center will offer live demonstrations of various technologies used in different payment scenarios.

The centre is based within the firm’s existing European HQ in Paddington Basin.

London’s deputy mayor for business, fintech entrepreneur Rajesh Agrawal, said: “London is a global fintech leader because we have been able to combine our traditional strength in financial services with our growing talent for tech and our innovative and entrepreneurial spirit.”

Speaking further, Rajesh said businesses need “a little bit of help” in turning their good ideas into “something truly transformative”.

Visa already operates innovation centers in Berlin, San Francisco, Miami, Sao Paulo, Singapore, Dubai and Tel Aviv.

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