Payment technology company Transcard has rolled out its AccelUp initiative for Chattanooga, Tennessee’s minority-owned startups. The accelerator program will start taking member applications in early July, according to an announcement emailed to PYMNTS.
“We are crazy about entrepreneurship,” Transcard President Chris Fuller said in the announcement. “AccelUp is an opportunity for us to invest our time and resources to help entrepreneurs in our community.”
AccelUp will choose 10 minority-owned startups annually for a $15,000 “non-dilutive loan.” Companies that are chosen for the program will be able to use Transcard’s resources and assets, such as its downtown Chattanooga office and incubation space in Transcard’s Warehouse Row office space.
Transcard offers in-depth global payment solutions for FinTech firms, banks and companies, including consumer-to-business (C2B) payments, business-to-business (B2B) payments, business-to-business-to-consumer (B2B2C) payments, Banking-as-a-Service (BaaS) and account-to-account (A2A) automation.
In PYMNTS’ The Connected Economy’s Power Source – CEO Edition, Transcard CEO Greg Bloh said, “Exceptional service requires businesses to deliver intelligent interactions where customers can pay or get paid in their preferred method, at any time, from any location, using any device, seamlessly. Creating this hyperconnected, data-driven environment requires businesses to rethink the way they make and receive customer payments.”
PYMNTS previously reported that Transcard would be launching a business entity in the United Kingdom and planned to hire nine employees to head it up. Its Great Britain expansion, which will be known as Transcard Limited, will let companies, banks and financial tech firms in Great Britain access the firm’s collection of cloud-based payment offerings.
“These seasoned professionals are ideal to lead Transcard’s efforts in the United Kingdom,” Fuller said in an April announcement. “They share our vision of using hyper-connected, multi-rail payments technology to transform the way businesses, banks and FinTechs make and receive payments. I look forward to seeing what we can accomplish together in the United Kingdom.”