Visa and USAID are Working Together to Drive Inclusive Digital Government Ecosystems and Payment Digitization

Business Wire 24-Oct-2024 9:00 AM

Together, Visa and USAID aim to enable digitization of government systems and payments to promote financial inclusion and economic growth.

Visa (NYSE:V), a world leader in digital payments, today announced it is working jointly with the United States Agency for International Development (USAID) to improve access to open, secure, and inclusive digital government systems across the world.

Following the recent launch of USAID's Digital Policy, Visa and USAID will work together for five years to focus on developing programs to assist governments in creating and adopting platforms that connect their constituents with local government services. The joint work aims to promote economic development and growth in select markets by combining capabilities and expertise in digital government systems, digital payments, and support for constituents and small-and-medium enterprises.

Visa and USAID are working together to support the development and adoption of foundational digital government systems that will provide constituents convenient and secure access to government services and digital payments. Initial regions of focus will be Sub-Saharan Africa, Latin America and the Caribbean, and the Caucasus, with scope to expand further over the course of the joint work.

"Digital government systems can help enhance transparency and efficiency between communities and governments, fostering a more favorable environment for entrepreneurs and economic development," said Chris Newkirk, Global Head of New Flows – Commercial & Money Movement Solutions. "Through shared interests and goals, Visa and USAID will empower communities with digital and financial literacy and support access to digital systems that will help drive financial inclusion for everyone, everywhere."

"Digital development works best when governments and the private sector intentionally work together toward a shared vision of an inclusive digital future," states Christopher Burns, USAID's Chief Digital Development Officer and Director of USAID's Technology Division. "We look forward to deepening our partnership with Visa, as we jointly work to drive digital financial inclusion for traditionally underserved consumers and strengthen digital public infrastructure across emerging markets."

This work builds on a long-standing relationship between Visa, Visa Foundation, and USAID to drive digitization and financial inclusion globally. Most recently, Visa and USAID are both working with Ukraine's Ministry of Digital Transformation to develop Diia, a mobile application that has helped connect 19 million Ukrainians with more than 120 government services. Visa Foundation works alongside USAID as two of the founding members of the Climate Gender Equity Fund (CGEF), a flagship initiative of the Women in the Sustainable Economy (WISE) Initiative, where Visa Foundation committed grants and investments to support an estimated 1.4 million gender equitable and climate-smart small businesses globally. Together, Visa and USAID aim to continue to help improve livelihoods, bolster economic opportunities, and close the gender digital divide in developing markets .

About Visa

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 USAID

The United States Agency for International Development (USAID) is the United States' government agency that leads international development and humanitarian assistance efforts to partner countries. We work together with individuals, communities, and countries around the world to improve everyday lives. USAID efforts provide humanitarian assistance, reduce poverty, strengthen democratic governance, advance economic opportunities, and help achieve progress beyond programs.

In the 21st century we live in an interconnected world. Our work benefits people around the world, including those in the United States. Many of the issues that we are encountering in the United States, like pandemics, climate consequences, and threats to the rule of law, are issues that people around the world are also facing. USAID's investment in communities around the world helps achieve sustainable development progress, advancing our collective security, health, and prosperity. Learn more at USAID.gov.

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