The program will focus on humanitarian aid, poverty alleviation and small-business development.
Visa (NYSE:V) has introduced its first corporate responsibility program, which will focus on humanitarian aid and long-term poverty alleviation, including support for small business development.
The company hopes to work with its partners to support microfinance programs that will help unleash entrepreneurial talents that are critical to economic development; develop new technologies and payments infrastructures, such as mobile payments to help expand access to financial services; and establish financial literacy programs.
"Visa and its employees have a deeply rooted concern for the well-being and advancement of all human beings," Joseph W. Saunders, chairman and CEO of Visa, said in a statement. "Although global poverty is a massive issue that Visa cannot conquer alone, we believe that by focusing our philanthropy and expertise in electronic payments toward expanding opportunity to those in need, we can make a meaningful contribution to tackling this global challenge."