Financial services company Visa has embarked on a new campaign to focus on the unbanked and underbanked and to give them easier access to the formal economy. Photo: AP Photo/Jenny Kane, File
Financial services company Visa has embarked on a new campaign to focus on the unbanked and underbanked and to give them easier access to the formal economy. Photo: AP Photo/Jenny Kane, File

Visa targets the unbanked and underbanked

By Given Majola Time of article published Sep 16, 2021

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FINANCIAL services company Visa has embarked on a new campaign to focus on the unbanked and underbanked and to give them easier access to the formal economy.

Sharing Visa’s new brand identity being introduced across the region and explaining how it expressed Visa’s purpose and embraces themes of access, equality and inclusion, Mohammed Ismaeel, the senior vice-president for marketing Visa Central and Eastern Europe, Middle East and Africa, said Visa was co-creating innovative solutions to make it easier to access seamless movement of money to potentially billions of people across the globe.

Visa aims to enable the movement of money and financial access to everyone everywhere.

“We are enabling faster access to payments whether you are a gig worker, SMMEs and all consumers. We build digital access capabilities for SMEs (small medium enterprises) for the very first time.

“Our brand and our network is providing access to a range of consumers and audiences that we have not been able to engage with historically,” said Ismaeel.

He said Visa was shifting the public’s perception away from it being a credit card company to a network that provided access to the global economy.

The Meet Visa campaign is a global reframing of the brand. Ismaeel said the firm had worked in collaboration across five regions and its global teams around the world.

The campaign aims to share a glimpse of the new visual identity.

It would not be fully worked out until later in the year, he said but, elements of it would be seen in various regions.

It is said to be refreshed with new colours.

The overarching message of the campaign talks about the network and how it goes beyond the traditional payment platform.

Andrew Torre, the regional president Central and Eastern Europe, Middle East and Africa said Visa would not be ignoring their current business of the affluent segment of the market, but were speaking to the new generation coming in.

“Specifically in sub-Saharan Africa where 40 percent of the population is Gen-Z, under 25 years of age, is very much our target.

“The lower end is the new generation of consumers that are coming into the fore. Some 40 percent of Africa is Gen Z, in the next five years the number of new consumers coming in today, we do not necessarily speak to because they are generally young and not the viable sector right now,” said Torre.

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