CA-VISA-INC.
15.11.2023 18:01:37 CET | Business Wire | Press release
Visa (NYSE: V) and Visa Foundation today made several announcements related to their ongoing commitment to support small and micro businesses (SMBs) across APEC and the world. First, Visa Foundation is pledging $100 million to support underserved and women-led SMBs in APEC economies over five years. Visa announced it has exceeded its three-year goal of digitally enabling 50 million SMBs globally by June 2023 and has now helped nearly 67 million SMBs. To deepen its support for global SMBs, Visa launched a new initiative to further accelerate digital enablement of underserved SMBs in the United States and developing economies with an initial focus on APEC economies including Indonesia, Mexico, Peru, Philippines, and Vietnam. Visa and Visa Foundation made these announcements as part of the Asia Pacific Economic Cooperation (APEC) Forum Economic Leaders and CEO Summit hosted by the United States in the City of San Francisco.
Small businesses are the heartbeat of the global economy and of their local communities, representing about 90% of businesses and more than 50% of employment worldwide. To accelerate access for underserved and women-led SMBs in APEC economies, Visa Foundation has pledged $100 million over five years to advance digital financial inclusion, stimulate job creation, and increase access to capital to drive economic mobility. Through this pledge, the Foundation will collaborate with and complement the work of local partners to drive access for underserved communities.
In parallel, Visa’s multi-year goal helped SMBs meet their evolving payment needs in an increasingly dynamic commerce ecosystem, focusing on digitizing more ways to be paid by customers, ways to pay for supplies, goods and services, and providing access to financial skills through training and education. Of the nearly 67 million SMBs reached by Visa, an estimated 29.6 million are from economies in the APEC region, including 10.9 million women-led SMBs.
Recognizing the critical needs of SMBs, Visa announced new SMB accelerator initiatives in the United States and more than 15 developing economies. Visa is prioritizing economies that have clear digital development needs including APEC economies in Indonesia, Mexico, Peru, Philippines, and Vietnam. In the economies where Visa will focus, cash still accounts for the majority of the ways businesses and individuals buy and sell and much of the population does not have access to digital payments.
“Small businesses are anything but small to Visa. Over the past three years, we’ve seen them shift from leveraging digital payments to survive, to now harnessing the power of digital to improve efficiency and reach new customers,” said Alfred F. Kelly, Jr., Executive Chairman at Visa and Co-Chair of the APEC CEO Summit 2023. “Visa is committed to continue expanding equitable access and extending digitization for underserved and women-led SMBs globally, so that payments can truly be a catalyst for growth.”
These expanded SMB accelerator initiatives will also focus on a wider set of partnerships with ecosystem participants that serve smaller sellers and seek to fast-track solutions deployment for SMBs.
Powering SMB Growth Globally, Year-Round
Visa’s 50 million SMB digital enablement milestone is just one piece of its and Visa Foundation’s ongoing commitment to help small and micro businesses thrive. Since April 2020, Visa Foundation has supported localized programs and solutions to enable small business owners to meet the fast-changing needs of commerce, trade and consumers in different parts of the world. Visa offers numerous payment services designed to help SMBs pay and get paid, and includes Visa Business credit and debit cards, rewards programs, business and payment management tools, fraud and security services, among many other solutions. Visa also provides financial education and business skills training, including Practical Business Skills globally and Enko in Latin America.
About Visa Inc.
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
About Visa Foundation
Visa Foundation seeks to support inclusive economies where individuals, businesses and communities can thrive. Through grant making and investing, the Foundation prioritizes the resilience and growth of micro and small businesses that benefit women. The Foundation also supports broader community needs and disaster response in times of crisis. Visa Foundation is registered in the U.S. as a 501(c)3 entity. For more information visit: visafoundation.org.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231115886978/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
CSG Helps Businesses Cut Fraud Losses by Up to 70% with CSG Payments Protection.ai3.2.2026 14:30:00 CET | Press release
AI-powered fraud detection solution enables near-real-time, cross-channel transaction monitoring to stop fraud without slowing legitimate payments As payments fraud accelerates with AI, businesses are racing to spot and block threats without slowing customers down. Today, CSG® (NASDAQ: CSGS) launched CSG Payments Protection.ai, a next-generation fraud detection and financial risk management solution to accurately identify and stop payment fraud. The solution proactively monitors digital transactions across diverse payment channels and fraud types, so businesses can reduce fraud losses by 50–70% while significantly lowering false-positive alerts and the resulting customer friction. “Fraud is no longer a once-in-a-while surprise,” said Saurabh Joshi, EVP and President, CSG Payments. “It’s constant, adaptive, and affects businesses regardless of size or industry. That’s why it was so important for us to offer an always‑learning AI solution that can help businesses stay ahead of increasing
JTB Group Unveils its Long-Term Vision “OPEN FRONTIER 2035”3.2.2026 14:00:00 CET | Press release
JTB Group has unveiled “OPEN FRONTIER 2035,” its long-term vision for the next decade. The vision positions JTB as a frontier (leading-edge) enterprise that brings together people, places, businesses, and possibilities to create connections and generate new value for society. By pioneering a new era of Designing Human Moments, we will harness our expertise and insights to connect, create, and contribute to the world—enriching people’s lives with excitement and contentment. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260203174455/en/ JTB Group's Desired Vision for 2035 Our Source of Value is the Power to Create Connections JTB Group has positioned “Intelligence that Creates Connections” as the core of its competitive advantage. Insight and expertise—when combined and continuously enhanced—will enable the Group to create meaningful connections by bringing together people, places, businesses, and possibilities, thereby gener
Visa Direct and UnionPay International Will Extend Global Money Movement Network to Billions of Cards in Chinese Mainland3.2.2026 13:00:00 CET | Press release
By connecting Visa Direct’s card network to UnionPay International’s (UPI) MoneyExpress platform, Visa Direct will unlock real‑time1 cross‑border money movement in one of the world’s largest remittance corridors At Web Summit Qatar, Visa (NYSE:V) and UnionPay International (UPI) announced an agreement to enable cross-border money movement into Chinese Mainland through Visa Direct. Once fully rolled out, clients will be able to send cross-border remittances and business-to-consumer payouts to more than 95 percent of UnionPay International debit cardholders in Chinese Mainland, through a single connection. By connecting Visa Direct’s global money movement network to UPI’s MoneyExpress platform, Visa will provide a more seamless, secure, and transparent way for consumers and businesses worldwide to send money into Chinese Mainland, one of the world’s largest remittance destinations. This milestone showcases Visa’s commitment to opening global corridors and extending reliable money movemen
China NMPA Approves Promega MSI Detection Kit as Companion Diagnostic for KEYTRUDA®3.2.2026 13:00:00 CET | Press release
The National Medical Products Administration (NMPA) has approved the OncoMate® Microsatellite Instability (MSI) Detection Kit as a Class III in vitro diagnostic medical device in China. It is intended for use as a companion diagnostic to identify MSI-High (MSI-H) solid tumor patients for treatment with KEYTRUDA® (pembrolizumab), Merck & Co., Inc., Rahway, NJ, USA’s anti-PD-1 therapy. This is the first Promega companion diagnostic to receive NMPA approval. “This approval represents a step toward more personalized and effective cancer treatment in China,” says Alok Sharma, Global Clinical Market Director at Promega. “We are proud to collaborate with pharmaceutical companies to deliver global solutions that expand access to innovative technologies and life-saving, effective therapies.” China continues to face one of the world’s highest cancer burdens, with solid tumors representing the vast majority of diagnoses nationwide. Despite advances in oncology care, most patients with advanced so
Rising Global Bullion Market Risks Are Forcing European Investors to Rethink Physical Gold Access3.2.2026 10:35:00 CET | Press release
As volatility reshapes global financial markets, European institutional investors are turning to safe-haven assets. While physical gold remains one of the world's most resilient and attractive store-of-value assets, secure and verifiable access to bullion has become increasingly difficult. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260203826775/en/ Illustrative image of physical gold bullion bars. (Photo: AETOSWire) Recent industry developments have placed structural pressure on the gold market. Elevated price levels have heightened concerns around counterfeit bars, fragmented supply chains, and the complexity of cross-border custody. For European institutions operating under strict regulatory oversight, the challenge is no longer whether to allocate to gold — but how to do so safely, transparently, and within established compliance frameworks. To this end, Golden Ark Reserve, operated by Golden Ark General Trading (FZC)
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom