Viewpoints

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PERSPECTIVES ON DIGITAL CURRENCY

Nov 15, 2013

Red Cross

Visa Responds to Typhoon Haiyan

Visa Inc. today announced a commitment to help the people of the Philippines following the devastation caused by Typhoon Haiyan. Visa will make a donation of $200,000 to the Red Cross to support relief and recovery efforts. Visa also will match employee donations to Red Cross relief efforts on a two-to-one basis through mid-December.

Further, in conjunction with its clients, Visa will waive interchange fees on donations made through December 31, 2013 to a select group of major U.S.- and Canada-based charities that are providing support to relief efforts. Eligible charities are:

United States

  • American Red Cross
  • AmeriCares
  • CARE
  • Habitat for Humanity
  • Mercy Corps
  • Oxfam America
  • Save the Children
  • US Fund for UNICEF
  • World Vision

Canada

  • Canadian Red Cross
  • CARE Canada
  • Humanitarian Coalition Canada
  • Oxfam Canada
  • Oxfam-Quebec
  • Save the Children Canada
  • UNICEF Canada
  • World Vision Canada

Finally, Visa will donate the revenue it generates from eligible contributions to the crisis through December 31, 2013 directly to the Red Cross.

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Posted by: Douglas Sabo, Head of Corporate Philanthropy & Responsibility, Visa Inc. on November 15, 2013 at 4:22 pm

Jul 18, 2013

Innovation in Development Disbursements: Visa Innovation Grant Recipients Announced

 

Today we’re proud to recognize the recipients of the Visa Innovation Grants Program. In partnership with NetHope, a consortium of more than 40 humanitarian organizations, and an Expert Advisory Committee of distinguished public and private sector leaders, five leading development organizations were selected to receive funding for projects that will modernize the distribution of agriculture, health and emergency relief payments to those living below the poverty line.

The Visa Innovation Grants Program is one component of Visa’s ongoing dedication to advancing financial inclusion around the world.  Every year, billions of dollars in cash payments are distributed to people in need through emergency relief efforts, benefit stipends, conditional cash transfers, microfinance programs, and other development initiatives.  Digitizing these payments through mobile phones or other electronic methods not only improves the distribution of aid, but can also help recipients gain access to broader financial services, including savings and electronic payments tools.

The group of five grantee organizations includes: Agribusiness Systems International (ASI), Freedom from Hunger, International Federation of Red Cross and Red Crescent Societies (IFRC), Mercy Corps, and Pathfinder International.

Each organization has been awarded $100,000 to support innovation in and adoption of electronic payments. The projects are focused on a wide variety of sectors, yet all are seeking better ways to distribute aid to the people who need it most.

Here is an introduction to the projects selected for funding, which we will cover in depth in future posts:

  • Agribusiness Systems International (ASI)

ASI will use the Visa Innovation Grant to bring formal financial services to rice farmers in Ghana. The program will extend branchless banking in rural areas by integrating mobile finance into the rice value chain. Mobile finance will reduce the risk of theft, connect farmers and other actors with financial services, and ensure timely payments to farmers. Founded in 1993 as an affiliate of ACDI/VOCA, ASI is a nonprofit consulting organization that helps smallholder farmers become competitive in the agribusiness sector.

  • Freedom from Hunger

Freedom from Hunger will use the Visa Innovation Grant to improve access to health services in rural Ecuador by integrating electronic payments for health services through local microfinance institutions that provide health savings and credit accounts. The program combines payment services with improved access to health services and education. Freedom from Hunger has more than six decades of experience fighting global poverty and hunger, as well as developing and testing flexible and sustainable approaches that provide group-based financial services, education and access to additional products and services to poor women and youth.

  • International Federation of Red Cross and Red Crescent Societies (IFRC)

IFRC, along with its partner American Red Cross, will use the Visa Innovation Grant to design and test a rapidly implementable and scalable electronic cash transfer system(s) with Red Cross National Societies in Latin America and the Caribbean. Electronic payments improve security and transparency of aid payments, enable families to begin their recovery in the shortest time possible and create a pathway to more formal financial services. The IFRC is the world’s largest humanitarian network, acting before, during and after disasters and crises to meet the needs and improve the lives of vulnerable people.

  • Mercy Corps

Mercy Corps will use the Visa Innovation Grant to provide smallholder farmers in Indonesia with access to mobile money, improving their productivity and increasing incomes. The program’s scalable and replicable model connects banks, mobile network operators and a full range of stakeholders in the agricultural value chain, while also helping farmers gain the knowledge and tools they need for success. Mercy Corps is an international development organization that helps people around the world survive and thrive after conflict, crisis and natural disaster.

  • Pathfinder International

Pathfinder International will use the Visa Innovation Grant to introduce a mobile money-based payroll system for its community health workers in Kenya. The pay-for-performance incentive model will be combined with access to real-time field data, improving transparency and the quality of services delivered. Pathfinder International is a nonprofit organization with a focus on access to contraception; maternal and newborn health; and HIV and AIDS services. The organization has implemented projects in more than 100 countries worldwide, and is recognized for its innovative and responsive approaches to meeting health needs at the community level.

There were many impressive ideas submitted by all applicants, and we believe these projects have particular promise for scaling electronic payments across diverse sectors. We look forward to supporting these projects and seeing how each will spur new ideas and models for the future of aid and development payments around the globe.

[Photo above: Elizabeth Mueni (right), a community health worker in Kenya trained by Pathfinder International, uses a mobile phone to collect data and track the health needs of her clients. Photo by Sala Lewis.]

 Check back for more updates about the Visa Innovation Grants Program and the group of recipients highlighted above.

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Posted by: Douglas Sabo, Visa Corporate Responsibility on July 18, 2013 at 6:13 am

Oct 31, 2012

Visa Inc. Responds to Hurricane Sandy

Hurricane Sandy was a storm of historic scale that is disrupting the lives of millions of people. Our thoughts are with those impacted as they manage through this difficult time.

As part of our ongoing commitment to being a responsible corporate citizen, Visa is supporting humanitarian efforts in the following ways:

Corporate contribution: Visa is making a contribution of $300,000 to the American Red Cross to support immediate relief and recovery efforts.

Employee matching gift program: Visa will match employee donations to disaster relief efforts on a two-to-one basis through the end of November.

Interchange fee waive: As part of Visa’s response, interchange fees on U.S. domestic Visa transactions will be waived through the end of November for a select group of U.S.-based charities providing support to Hurricane Sandy relief efforts. Eligible charities include:

Finally, Visa also will donate our revenue generated from these eligible contributions to the American Red Cross.

We are hopeful that together we can help recover from this disaster and start the rebuilding process.

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Posted by: Douglas Sabo, Visa Corporate Responsibility on October 31, 2012 at 4:15 pm