Visa Accelerates Support for Small and Micro Businesses Across APEC and Globally
15 Novembro 2023 - 2:00PM
Business Wire
- Visa Foundation pledges $100 million commitment to APEC
economies
- Visa surpasses its pledge to digitally enable 50 million
SMBs globally
- Visa announces SMB accelerator initiatives in U.S. and 15+
emerging economies
Visa (NYSE: V) and Visa Foundation today made several
announcements related to their ongoing commitment to support small
and micro businesses (SMBs) across APEC and the world. First, Visa
Foundation is pledging $100 million to support underserved and
women-led SMBs in APEC economies over five years. Visa announced it
has exceeded its three-year goal of digitally enabling 50 million
SMBs globally by June 2023 and has now helped nearly 67 million
SMBs. To deepen its support for global SMBs, Visa launched a new
initiative to further accelerate digital enablement of underserved
SMBs in the United States and developing economies with an initial
focus on APEC economies including Indonesia, Mexico, Peru,
Philippines, and Vietnam. Visa and Visa Foundation made these
announcements as part of the Asia Pacific Economic Cooperation
(APEC) Forum Economic Leaders and CEO Summit hosted by the United
States in the City of San Francisco.
Small businesses are the heartbeat of the global economy and of
their local communities, representing about 90% of businesses and
more than 50% of employment worldwide. To accelerate access for
underserved and women-led SMBs in APEC economies, Visa Foundation
has pledged $100 million over five years to advance digital
financial inclusion, stimulate job creation, and increase access to
capital to drive economic mobility. Through this pledge, the
Foundation will collaborate with and complement the work of local
partners to drive access for underserved communities.
In parallel, Visa’s multi-year goal helped SMBs meet their
evolving payment needs in an increasingly dynamic commerce
ecosystem, focusing on digitizing more ways to be paid by
customers, ways to pay for supplies, goods and services, and
providing access to financial skills through training and
education. Of the nearly 67 million SMBs reached by Visa, an
estimated 29.6 million are from economies in the APEC region,
including 10.9 million women-led SMBs.
Recognizing the critical needs of SMBs, Visa announced new SMB
accelerator initiatives in the United States and more than 15
developing economies. Visa is prioritizing economies that have
clear digital development needs including APEC economies in
Indonesia, Mexico, Peru, Philippines, and Vietnam. In the economies
where Visa will focus, cash still accounts for the majority of the
ways businesses and individuals buy and sell and much of the
population does not have access to digital payments.
“Small businesses are anything but small to Visa. Over the past
three years, we’ve seen them shift from leveraging digital payments
to survive, to now harnessing the power of digital to improve
efficiency and reach new customers,” said Alfred F. Kelly, Jr.,
Executive Chairman at Visa and Co-Chair of the APEC CEO Summit
2023. “Visa is committed to continue expanding equitable access and
extending digitization for underserved and women-led SMBs globally,
so that payments can truly be a catalyst for growth.”
These expanded SMB accelerator initiatives will also focus on a
wider set of partnerships with ecosystem participants that serve
smaller sellers and seek to fast-track solutions deployment for
SMBs.
Powering SMB Growth Globally, Year-Round
Visa’s 50 million SMB digital enablement milestone is just one
piece of its and Visa Foundation’s ongoing commitment to help small
and micro businesses thrive. Since April 2020, Visa Foundation has
supported localized programs and solutions to enable small business
owners to meet the fast-changing needs of commerce, trade and
consumers in different parts of the world. Visa offers numerous
payment services designed to help SMBs pay and get paid, and
includes Visa Business credit and debit cards, rewards programs,
business and payment management tools, fraud and security services,
among many other solutions. Visa also provides financial education
and business skills training, including Practical Business Skills
globally and Enko in Latin America.
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 Visa Foundation
Visa Foundation seeks to support inclusive economies where
individuals, businesses and communities can thrive. Through grant
making and investing, the Foundation prioritizes the resilience and
growth of micro and small businesses that benefit women. The
Foundation also supports broader community needs and disaster
response in times of crisis. Visa Foundation is registered in the
U.S. as a 501(c)3 entity. For more information visit:
visafoundation.org.
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version on businesswire.com: https://www.businesswire.com/news/home/20231115886978/en/
Aida Hadzibegovic press@visa.com
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