Visa is advancing digital and financial inclusion in Southeast Asia by empowering women and youth with essential skills for sustainable growth.
In 2023, Visa enabled 10 million SMEs in Apac to go digital. The Visa Foundation has committed over $47 million in the region, supporting two million women-led SMEs and sustaining 500,000 jobs. Recently, the foundation pledged $100 million to Apec economies over the next five years.
“Visa utilizes our resources and vast network to give back to the communities we operate in, particularly in promoting digital and financial inclusion,” said Stephen Karpin, regional president for Asia Pacific at Visa. “We believe in the transformative power of providing individuals and communities with global access to digital financial tools.”
Visa’s financial literacy program in the Philippines, launched in 2017, has already reached over 36,000 students and teachers across 21 cities. This initiative, in partnership with Tanghalang Pilipino and Teach for the Philippines (TFP), includes a Tagalog skit that educates participants on financial literacy, which later expanded into two web series. TFP, supported by a Visa Foundation grant, focuses on deploying transformative teachers and changemakers in schools and education governance agencies.
In Southeast Asia, small and medium-sized enterprises (SMEs) and micro, small, and medium enterprises (MSMEs) constitute 99% of businesses, while the young population makes up nearly a third of the region. Recognizing their role in economic growth, Visa has been supporting in enhancing digital and financial literacy among women SME owners and young individuals.
Through its initiatives, the digital payments processor aims to address barriers faced by rural communities, women, and ethnic minorities, who often struggle with accessing digital opportunities and face growth obstacles due to cultural and institutional challenges.