newsfilter
← Latest News
Business Wire·

Visa and World Bank Group Announce New Risk-Sharing Initiative to Expand Digital Payments and Financial Inclusion in Emerging Markets

V
  • Visa & the International Finance Corporation (IFC) have partnered on a risk-sharing initiative to expand financial inclusion in emerging markets.
  • The agreement involves IFC sharing credit settlement risk for Visa transactions, enabling underbanked consumers & small businesses to access digital payments.
  • The facility is expected to support approximately $200 million in risk sharing over five years.
  • The initiative will initially focus on 14 countries in Latin America & the Caribbean, targeting around 50 financial institutions with below-investment grade ratings.
  • The partnership aims to help millions of people & small businesses participate more fully in the formal economy by saving, spending, borrowing, & growing.
  • Officials from both organizations state the initiative reduces constraints for financial institutions, enabling them to scale operations, reach new customers, & create jobs.
  • The collaboration leverages Visa's global network to increase the speed, security, & transparency of digital transactions.