Receive Social Payments From Government Agencies and Humanitarian Groups
Governments and humanitarian organizations are increasingly distributing money to social benefits beneficiaries using electronic payments to improve efficiency and security of disbursements. As part of an effort to promote financial inclusion while also improving service delivery, these agencies are using Visa prepaid products to deliver money to the unbanked and underserved, moving away from the distribution of physical cash or goods.
- In the Dominican Republic, where only 29 percent of the adult population uses formal financial services,3 the government distributes benefits via Visa "Solidaridad" prepaid cards. In place since 2003, the program saves the government money, gets assistance to people quickly and securely and offers many residents their first experience with formal financial services.
- In Pakistan, where only 12 percent of the adult population uses formal financial services,4 Visa worked with the government and our financial institution partners to distribute financial aid to unbanked and under-banked citizens displaced by fighting and floods. In 2009, Visa prepaid cards were distributed to 250,000 families displaced by the fighting in the Northwest Frontier Province. More recently, Visa and its partners distributed almost 1.5 million "Watan" Visa prepaid cards with aid totaling US$314 million after severe flooding impacted millions of residents.
Half the World is Unbanked, Financial Access Initiative, 2009.
4 Half the World is Unbanked, Financial Access Initiative, 2009.