The great digital shift continues.
For the next five years, Visa and the United States Agency for International Development (USAID) will be working together to globally improve access to “open, secure, and inclusive” digital government systems and payments.
Visa announced this latest development in the partnership between Visa, Visa Foundation and USAID in a Thursday (Oct. 24) press release.
The focus will be on creating programs that help governments securely connect citizens to local services and digital payments, according to the release. The partnership also aims to promote economic development by leveraging expertise and capabilities in digital government systems, digital payments and support for small and medium-sized businesses, per the release.
The initial target regions will be Sub-Saharan Africa, Latin America and the Caribbean, and the Caucasus, with potential for future expansion, the company said.
“Digital government systems can help enhance transparency and efficiency between communities and governments, fostering a more favorable environment for entrepreneurs and economic development,” Visa’s Chris Newkirk said in the release. “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.”
The initiative coincides with USAID’s recently launched digital policy, which emphasizes the importance of digital ecosystems in nurturing economic development.
“Digital development works best when governments and the private sector intentionally work together toward a shared vision of an inclusive digital future. 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,” USAID Chief Digital Development Officer Christopher Burns said in the release.
The release also notes that both organizations are currently involved in supporting Ukraine’s Ministry of Digital Transformation through the development of Diia, a mobile application that connects millions of Ukrainians to government services. It contributed to Visa CEO Ryan McInerney being awarded Ukraine’s Peace Prize in 2022.
Additionally, the Visa Foundation and USAID are founding members of the Climate Gender Equity Fund, which aims to support gender-equitable and “climate-smart” small businesses globally.
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