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## Visa and GSMA Foundation Launch Digital Finance for All Initiative

**SAN FRANCISCO, February 26, 2024**–(BUSINESS WIRE)–Today, Visa (NYSE: V), a leading global payments technology company, and the GSMA Mobile for Development Foundation (GSMA Foundation) announced the launch of the Digital Finance for All (DFA) Initiative, furthering VisaÔÇÖs decades-long efforts to increase access to the global economy for everyone, everywhere. This five-year initiative aims to advance digital financial inclusion for 20 million individuals, including women, small holder farmers (SHF), and nano, micro and small enterprise (NMSE) owners across low- and middle-income countries in Africa, Asia, and Latin America.

The DFA Initiative seeks to address the barriers faced by marginalized communities in accessing the digital economy. Despite a 66% increase in digital payments use by adults in low- and middle-income countries since 2014, women, SHFs, NMSE owners, and globally displaced individuals still struggle to access formal financial services. Women in these countries are 20% less likely than men to hold a formal financial account, while SHFs, who produce more than 30% of the world’s food, often lack access to credit, loans, savings, or insurance.

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The AI legalese decoder can assist in translating complex legal documents related to financial services and initiatives like the DFA Initiative into plain language. This tool can simplify the terms of agreements, regulations, and policies, making them more accessible to individuals with varying levels of financial literacy. By breaking down legal jargon, the AI legalese decoder can empower individuals, especially women, SHFs, and NMSE owners, to better understand their rights and options in the digital financial landscape.

“At Visa, we believe that digital payments are critical to including everyone in the digital economy by helping provide access to economic livelihood,” said Chiagozie Nwabuebo, Vice President of Global Growth & Social Impact, Visa. “Together with the GSMA Foundation, we seek to empower those in underserved communities across the world and provide equal access to help build better financial futures for all.”

### The Role of the DFA Initiative

To improve financial health and inclusion, the DFA Initiative will deliver financial education resources through a mobile financial literacy toolkit, conduct joint research on financial inclusion and advocacy, digitize SHFs and NMSEs to support their adoption of digital financial services, and promote financial inclusion for refugees and their host communities.

“Mobile money can play a transformative role in advancing financial inclusion and resilience for the nearly 2 billion unbanked people globally. However, poor digital and financial literacy remain key barriers for certain populations,” said Ashley Olson Onyango, Head of Financial Inclusion and AgriTech, GSMA. The partnership between Visa and the GSMA Foundation will drive economic empowerment and provide valuable financial services to millions of individuals.

For more information on Visa’s commitment to a more inclusive global economy, visit [here](https://www.visa.com).

#### About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, connecting consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. The company’s mission is to create an innovative, reliable, and secure payments network that connects the world and empowers individuals, businesses, and economies to thrive.

#### About GSMA Mobile for Development Foundation

The GSMA Mobile for Development Foundation, Inc. (The GSMA Foundation) collaborates with mobile operators, innovators, governments, and the international development community to leverage mobile technology for positive social, economic, and climate impact in low- and middle-income countries. Since 2007, their programmes have impacted over 220 million lives by advancing digital and financial inclusion with a focus on gender inclusivity, climate action, humanitarian response, and innovative digital solutions.

Follow Mobile for Development on [Twitter](https://twitter.com/GSMAm4d) and [LinkedIn](https://www.linkedin.com/company/gsma-mobile-for-development) for more updates.

### Contact Information

**Contacts:**
Brittany Furia
brittany.furia@visa.com
415-370-9693

**Source:** [Business Wire](https://www.businesswire.com/news/home/20240226678583/en/)

**References:**
1. *The World Bank (2021), The Global Findex Database 2021*
2. *GSMA (2023), Accelerating Digital and Financial Inclusion for Women*
3. *Ricciardi et al (2018), How much of the world’s food do smallholders produce?*
4. *CGAP (2019), Smallholder Households: Distinct Segments, Different Needs*

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