CA-VISA-INC.
26.2.2024 12:31:30 CET | Business Wire | Press release
Today, Visa (NYSE: V), a leading global payments technology company, and the GSMA Mobile for Development Foundation (GSMA Foundation) announced the launch of the Digital Finance for All (DFA) Initiative, furthering Visa’s decades-long efforts to increase access to the global economy for everyone, everywhere. This five-year initiative aims to advance digital financial inclusion for 20 million individuals, including women, small holder farmers (SHF), and nano, micro and small enterprise (NMSE) owners across low- and middle-income countries in Africa, Asia and Latin America.
While digital payments use by adults in low- and middle-income countries is up 66% from 20141, women, SHFs, NMSE owners and globally displaced individuals continue to face barriers accessing the digital economy. Women in low- and middle-income countries are 20% less likely than men to hold a formal financial account2 and more than 30% of the world’s food is produced by SHFs3 yet most have limited or no access to formal financial services like credit, loans, savings, or insurance4.
“At Visa, we believe that digital payments are critical to including everyone in the digital economy by helping provide access to economic livelihood,” said Chiagozie Nwabuebo, Vice President of Global Growth & Social Impact, Visa. “Together with the GSMA Foundation, we seek to empower those in underserved communities across the world and provide equal access to help build better financial futures for all.”
To help improve financial health, the DFA will:
- Deliver financial education resources through a jointly developed mobile financial literacy toolkit that enables easy delivery and scaling across markets to help enable successful access to and participation in mobile money services;
- Develop joint research through the Visa Economic Empowerment Institute (VEEI) and the GSMA Foundation focused on financial inclusion, advocacy and product innovation for women, SHFs, NMSEs and globally displaced individuals;
- Digitize SHFs and NMSEs to support their adoption of digital financial services to enable their resilience and growth; and
- Support meaningful financial inclusion and wellbeing for refugees and the communities who host them.
“Mobile money can play a transformative role in advancing financial inclusion and resilience for the nearly 2 billion people who remain unbanked globally. However, poor digital and financial literacy is a key barrier to accessing digital financial services, especially for certain population segments like women, farmers and micro-merchants,” said Ashley Olson Onyango, Head of Financial Inclusion and AgriTech, GSMA. “We are very excited about our partnership with Visa enabling us to further drive economic empowerment and support millions of users to access life changing financial services.”
For more information on Visa’s commitment to build a more inclusive global economy, visit here.
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 GSMA Mobile for Development Foundation
The GSMA Mobile for Development Foundation, Inc. (‘The GSMA Foundation’) brings together mobile operators, innovators, governments, and the international development community to realise the positive social, economic and climate impact of mobile technology, primarily in low- and middle-income countries. With funding from donors and the GSMA, the GSMA Foundation runs programmes that advance digital and financial inclusion – with a strong focus on gender inclusivity, climate action, humanitarian response, and investment in innovative digital solutions. Since 2007, these programmes have impacted the lives of over 220 million people.
Find out more at https://www.gsma.com/aboutus/who-we-are/gsma-foundation/
Follow Mobile for Development on X: @GSMAm4d and on LinkedIn: GSMA – Mobile for Development
Follow the Mobile Money programme on X: @GSMAMobileMoney
1 The World Bank (2021), The Global Findex Database 2021
2 GSMA (2023), Accelerating Digital and Financial Inclusion for Women.
3 Ricciardi et al (2018), How much of the world’s food do smallholders produce?
4 CGAP (2019), Smallholder Households: Distinct Segments, Different Needs
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/20240226678583/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
iQmetrix to Deliver 2026 Telecom Industry Address and Product Announcements, Unveiling the Next Wave of Intelligent Commerce14.9.2026 19:40:00 CEST | Press release
iQmetrix's annual industry briefing goes global on October 28, pairing a year of worldwide market intelligence with the company's outlook on AI-native commerce and a first look at what's next for its Intelligent Commerce Operating System iQmetrix, the global provider of Intelligent Commerce Operating Systems for telecom, today opened registration for the 2026 Telecom Industry Address and Product Announcements, taking place Wednesday, October 28, 2026. For the first time in the event's history, iQmetrix will run two dedicated virtual sessions: one built specifically for European audiences, alongside its long-running North American event. Both are free to attend. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260914992633/en/ Now in its seventh year, the Industry Address has become the telecom channel's annual checkpoint: an unfiltered read on where the market is heading, delivered by a company that sits at the intersection of
The Estée Lauder Companies Announces Partnership with Profound to Expand AI Visibility Across Its Global Brand Portfolio14.9.2026 18:32:00 CEST | Press release
Partnership enables the company to lead prestige beauty's transition to AI-powered discovery while better understanding how consumers discover, evaluate, and engage with its brands across AI answer engines The Estée Lauder Companies Inc. (NYSE: EL) today announced a global strategic partnership with Profound, the category-defining AI marketing platform, advancing its ambition to be prestige beauty’s leader in AI-native discovery. The partnership will provide the company with visibility into how its full portfolio of brands is represented across leading generative AI platforms, as well as opportunities to optimize that representation. This partnership establishes the company as the first in prestige beauty to deploy Profound’s capabilities globally across the company’s full portfolio and operationalize Generative Engine Optimization (GEO) and AI marketing at scale. As consumers increasingly turn to ChatGPT, Gemini, and other AI assistants to discover products, compare recommendations, a
AMAALA Yacht Club Opens, Putting the Red Sea on the Global Yachting Map14.9.2026 18:00:00 CEST | Press release
Luxury sailing, wellness and exploration converge at Saudi Arabia's newest yachting destination Red Sea Global (RSG), the regenerative tourism developer, has announced that AMAALA Yacht Club has officially begun operations, marking a major milestone in establishing the Saudi Red Sea as a new global destination for luxury yachting, sailing and marine tourism. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260914160771/en/ AMAALA Yacht Club, the new luxury yachting destination on Saudi Arabia’s Red Sea coast. Nestled within AMAALA Marina Village, the AMAALA Yacht Club is now welcoming founding members and visiting yachts to moor and explore the destination. Located approximately 2,000 nautical miles from Monaco, the club provides a new winter destination for the world’s luxury sailing community, which traditionally migrates from the Mediterranean to the Caribbean or Indian Ocean from October. Positioned closer to the Mediterra
Behind the Stage Lights: How Students Learned to Trust Their Voices with Doha Debates14.9.2026 15:40:00 CEST | Press release
During high school years in Model United Nations, Dahlia Al-Ansari learned to argue on behalf of a country she was assigned to represent. But when Doha Debates invited her to join a town hall debate in Toronto this July, she faced an unfamiliar challenge: sharing her own beliefs about a timely issue. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260914150232/en/ Students from Qatar, Canada and Mexico during their visit to the University of Toronto as part of the Doha Debates Town Hall experience in Canada. (Photo: AETOSWire) An 18-year-old biological sciences student at Carnegie Mellon University in Qatar, Al-Ansari hadn’t traveled to defend a predetermined position. Instead, she discovered that she was there to think critically, express her own viewpoint and remain open to diverse perspectives. This shift required her to navigate uncharted waters, but “I’m happy that it did,” she says. “It’s showing me the importance of sp
Matt Shafer Joins Golub Capital as Head of Golub Equity Continuation Partners14.9.2026 15:30:00 CEST | Press release
Golub Capital (“the Firm”) today announced the appointment of Matt Shafer as Managing Director and Head of the Firm’s GP-led private equity secondaries strategy, Golub Equity Continuation Partners (“GECP”). In this role, he will be responsible for leading the continued growth and development of the strategy and helping expand the Firm’s equity investment capabilities. Matt will work closely with Greg Cashman, Vice Chair and Co-Head of Golub Capital’s Sponsor Finance practice, to expand Golub Capital’s activity in this growing market. Shafer brings nearly three decades of global experience as an investor, financier and advisor working with private equity firms. He was most recently Head of Capital Solutions and U.S. Private Equity at Northleaf Capital Partners. In this role, Shafer helped lead the firm’s private equity investment activities, including secondaries, co‑investments and structured capital. Prior to Northleaf, he was Partner and Head of Americas Private Equity at Vision Capi
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