Humanitarian Aid Innovation
In social development programs and in humanitarian crisis responses alike, government agencies and humanitarian groups increasingly are moving away from the distribution of physical goods (such as food, household supplies or tents) toward the distribution of money. In the right situations, including when local markets are operational and goods are available, distributing money rather than goods can be more effective in meeting the needs of those impacted while also accelerating economic recovery. Receiving money instead of goods allows people to buy what they most need for their families while also supporting local businesses.
As part of our commitment to humanitarian aid, Visa works with nongovernmental organizations and government agencies to provide aid quickly, securely and effectively using electronic payments for distribution. In addition to improving the humanitarian response, this approach often provides the first opportunity for the unbanked and underserved to gain access to more formalized financial services.
Visa and NetHope Help NGOs Bring Technology Innovation to Payment Disbursements
Visa and NetHope, a consortium of more than 40 humanitarian organizations, partnered to develop the Visa Innovation Grants Program, awarding five leading development organizations with grants to help modernize the distribution of payments related to microfinance, agriculture, health, and emergency relief.
The Visa Innovation Grants will help the recipients transition from cash to electronic payment distribution thereby providing them with the opportunity to improve the speed, security and long-term impact of disbursements. By supporting organizations' transition to electronic payments, Visa and NetHope will help foster development and financial inclusion in the communities they serve as well as strengthen the organizations' ability to realize their missions over the long-term.
Recipients of the Visa Innovation Grants include:
- Agribusiness Systems International (ASI)
- Freedom from Hunger
- International Federation of Red Cross and Red Crescent Societies (IFRC)
- Mercy Corps
- Pathfinder International
For more information about the projects the Visa Innovation Grants will support, please see our recent press announcement.