Viewpoints

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PERSPECTIVES ON DIGITAL CURRENCY

Oct 19, 2012

Practical Money Skills

Steeler Mike Wallace, State Treasurer Rob McCord Help Tackle Financial Literacy

A lucky group of Pittsburgh area students from Allderdice High School got the chance to meet local luminaries from sports and politics–and get a head start on learning money management skills that will stick with them for life.

As part of Visa’s “Financial Football” program, Pittsburgh Steeler wide receiver Mike Wallace and Pennsylvania State Treasurer Rob McCord dropped by to share their personal experiences on the importance of money management with students.

The centerpiece of Visa’s nationwide educational initiative with the NFL and NFL PLAYERS, Financial Football helps students and adults tackle their financial futures. This free game is accompanied by a classroom curriculum and is available to every public middle and high school in the state of Pennsylvania.

So we know who the students in Pittsburgh will be rooting for this weekend.  Who is YOUR favorite football team?  Tell us who you will be rooting for in the comments!

Pittsburgh Steeler Mike Wallace on the importance of money management:

 

Pennsylvania State Treasurer Rob McCord on the value of teaching kids financial literacy:

 

 

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Posted by: Jason Alderman, Visa Corporate Relations on October 19, 2012 at 2:08 pm

Sep 6, 2012

A Political Football

Proving that even politics can occasionally be fun, Visa teamed up this week with North Carolina Senator Kay Hagan, State Treasure Janet Cowell and Business Forward to host a demonstration of Financial Football at the Democratic National Convention in Charlotte.

With the help of Washington Redskin linebacker London Fletcher, local students and Convention delegates heard about the importance of promoting financial literacy and then got down to business, playing a spirited game of Financial Football.

A few kind-hearted souls asked me something to the effect of: “Why wade into the circus-like environment of a political convention to talk about financial literacy?”

The answer is straight-forward: We strongly believe that a component to a vibrant and growing economy is a well-informed, financially literate population. The government leaders gathered at the party conventions are, by virtue of the offices they hold, ideally positioned to advance the issue of financial literacy and help ensure that all teenagers leave high school with a foundational understanding of money management.

We tried to bring Financial Football to the Republican Convention last week in Tampa, but Hurricane Isaac interfered, causing us to postpone. We’re looking at rescheduling with Governor Rick Scott later this fall.

For the uninitiated, Financial Football is our educational video game that helps players learn about personal finance. Instead of using thumbs to advance your team down the field, you answer personal finance questions. Give it a try

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Posted by: Jason Alderman, Visa Corporate Relations on September 6, 2012 at 3:32 pm

Sep 4, 2012

The Tooth Fairy’s Generosity

This is a great time to be a kid with a loose tooth.

The Tooth Fairy has rebounded from her economic dole drums and she’s returned to her free spending ways. So says the data from our most recent survey of 2,000 Americans. The Tooth Fairy’s largess plummeted in 2011, falling to an average of $2.60 left per tooth. But the cusped collector has picked herself up, dusted herself off, and in 2012 is leaving $3.00 – a 15% increase.

And with every first lost tooth comes the parental dilemma of how much money to leave under the pillow. No one wants to be an outlier and leave their child too much or too little. There is also the concern about children comparing notes on the school playground and finding out that the Fairy has been leaving different amounts.

To help answer this perennial question, we’ve developed the free Tooth Fairy Calculator which you can download as an app from iTunes or use on Facebook. The calculator recommends an appropriate amount to leave for each tooth based on what other families are leaving in comparable households.

While the topic of the Tooth Fairy is intentionally light-hearted, it looms incredibly large for a child with a wiggly tooth – especially if it’s your child. So harness the passion and fascination your child has with the Tooth Fairy and the cash she leaves behind and turn it into a conversation starter about money management.

Ask them how they plan to spend it and encourage them to save a portion. Help them understand the rudimentary concepts of budgeting and explain that’s what you do with your money. It’s a life lesson that will last longer than those baby teeth.

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Posted by: Jason Alderman, Visa Corporate Relations on September 4, 2012 at 6:39 am

Aug 14, 2012

Financial Literacy: Real Educators, Real Feedback

Financial literacy is a topic a great importance to those of us who work at Visa. We take great pride in the resources that we have created for educators, parents and students to address important financial questions and topics as people reach various milestones in their lives through our “Practical Money Skills for Life” program. Whether it is creating lesson plans for elementary school teachers or developing “Financial Football” to use sports to promote financial literacy, we are constantly thinking about ways to innovate around the topic.

And while Visa has strong voice to contribute to the conversation, we partner closely with educators on our advisory council to continually update our curriculum and offerings to make sure that the message we are helping to communicate resonates with students.

See what Chauncey Veatch, Advisory Council member and National Teacher of the Year from Coachella Valley (California) has to say about the importance of educating students about financial literacy:

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Posted by: Jason Alderman, Visa Corporate Relations on August 14, 2012 at 6:08 pm

Jun 15, 2012

Financial Inclusion: Spotlight on the Underserved in the U.S.

This week, leading private sector, government and civil society representatives are gathering at the Center for Financial Services Innovation’s (CFSI) 7th Annual Underbanked Financial Services Forum to discuss the latest strategies to reduce the number of the financially underserved in the U.S.  As part of our global commitment to advance financial inclusion, Visa is pleased to sponsor the event and contribute to the best practices and payments expertise being shared through speaking on two panels: “Putting the Consumer First: Designing, Delivering, and Identifying Quality in Prepaid” and “Connecting with the Consumer: Branding Strategies for building Trust with the Underbanked Consumer.”

Around the world, an estimated 2.5 billion adults—primarily in developing countries—lack access to formal financial services. However, financial exclusion is not a challenge absent from even some of the world’s most advanced economies. Surprising to some, one in four U.S. households has little or no access to basic financial services.[1] Without this access, the financially underserved are typically reliant on a cash-and-carry lifestyle, without a safe or convenient way to save money, pay their bills or get paid.

Visa is committed to being a part of the financial inclusion solution. At the core of our commitment is our work with our clients to use our products, services and network to improve the lives of the underserved through access to electronic payments. In the U.S., we believe our reloadable prepaid cards provide an important channel for the underserved to gain access. These cards may be purchased by an individual, provided by a government agency for social aid or offered by an employer as a payroll option. Prepaid cards — often an individual’s first point of access to formal inclusion —  offer a safe, reliable and convenient way for people to pay, get paid, store and manage their money.

Beyond our products and network, Visa complements our inclusion commitment by engaging in partnerships with governments, non-governmental organizations and multi-lateral organizations to collaborate on strategies and initiatives that address many of the challenges to greater inclusion, such as our involvement in the programs of CFSI. We also deliver extensive financial literacy programs throughout the U.S., as we believe that having the knowledge to understand and use a financial tool responsibly is as important as having access to the product itself. Visa’s financial literacy programs, like Practical Money Skills for Life, help U.S. consumers become more financially savvy by providing free educational resources, including personal finance articles, games and lesson plans.

Financial inclusion in the U.S. is a national challenge not to be overlooked. As leaders this week and throughout the year discuss new strategies and innovation designed to close the financial inclusion gap, Visa remains committed to working with our partners to develop solutions to this important social and economic issue.

 


[1] Press Release: New FDIC Study Shows One in Four U.S. Households Currently Unbanked or Underbanked http://www.fdic.gov/news/news/press/2009/pr09216.html

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Posted by: Brian Triplett, Head of Commercial & North America Prepaid, Visa on June 15, 2012 at 8:36 am