Visa has announced a collaboration with the Universal Postal Union to roll out a suite of digital and mobile solutions for payment, savings, and insurance services that accelerate financial inclusion.
The announcement was made during the United Nations Conference on Trade and Development (UNCTAD) e-commerce conference hosted at the United Nations Environment Program (UNEP).
Visa and UPU will roll out e-wallet solutions for postal customers and small businesses in Côte d’Ivoire and Benin; a digital payments platform in Ghana that allows postal customers to pay school fees and access social cash transfers and pension payments; and a mobile registration system in Vietnam to digitize social and health insurance coverage among low-income populations.
Initiatives in Pakistan, Rwanda, and the Pacific Islands will help post offices in those countries set up digital financial services to benefit their citizens.
These nine projects are the first to be launched through Visa’s partnership with the UPU and the Bill & Melinda Gates Foundation, with the ultimate goal of accelerating financial inclusion initiatives in 20 post offices and supporting UPU’s larger goal of the opening of another 250 million accounts at post offices by 2020.
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