Visa, a global leader in digital payments, consistently uses its brand power, industry influence, and collective voice to drive positive change in the communities it serves. By connecting over 4 billion account holders to more than 130 million merchants, 14,500 financial institutions, and governments across 200+ countries, Visa is dedicated to improving accessibility to financial services. What sets Visa apart is its unique focus on meeting the needs and challenges of women-owned small and medium-sized businesses. Let us explore how Visa is empowering women and youth in India.
According to World Bank estimates, 1.7 billion people worldwide still have limited access to traditional banking and financial services. Visa addresses this gap through financial education programs. They are teaching people about small loans and mobile banking. Additionally, Visa’s partnerships, such as the one with Skill India to upskill 20,000 youth in the tourism sector, open up new possibilities for those who need them most.
Upskill 20,000 youth for India’s tourism industry
The three-year partnership between Visa and The Tourism & Hospitality Skill Council (THSC), worth up to $1 million, aims to upskill 20,000 Indian youth in tourism-related skills. As part of Visa’s ongoing collaboration with the Ministry of Tourism, this initiative focuses on training the youth across 10 Indian states, including Assam, Gujarat, Himachal Pradesh, and West Bengal. The program will target essential jobs in the domestic tourism industry, including tour guides, customer service executives, naturalists, and paragliding tandem pilots.
India’s tourism industry holds immense potential for economic growth and job opportunities. To unlock this potential, Visa and THSC are equipping young Indians with the skills they need to succeed in the tourism sector, making India a top global tourism destination.
Initiatives by Visa: Empowering women entrepreneurs
Diversity and inclusion are Visa’s core values, which are evident in its programs designed to support women entrepreneurs. Visa ensures that its initiatives actively contribute to creating equal opportunities and addressing the unique challenges faced by women. This commitment means that Visa prioritises creating a workplace and a world where everyone, regardless of gender, race, or background, has equal opportunities to succeed.
Visa has consistently supported women-focused businesses and women entrepreneurs in India through various initiatives, such as:
She’s Next program to empower women entrepreneurs
The ‘She’s Next’ program supports women-led businesses with essential resources such as networking, mentoring, and funding opportunities. Many women face challenges securing funding. According to data, 73% struggle to get financial support, and only 2% receive venture capital. By providing these grants, Visa actively works to improve financial inclusivity. In 2023, Visa awarded $10,000 in grants to three exceptional women-owned businesses in India.
United Way Mumbai to uplift women-owned and women-focused businesses
In 2022, Visa pledged $1 million to United Way Mumbai (UWM) to empower women-owned and women-focused businesses over the next three years. The initiative reached 170 villages and towns across Uttar Pradesh, Assam, Maharashtra, and Karnataka. The program’s aim was to build sustainable, long-term entrepreneurial skills among participants. In the process, Visa trained over 8,500 women and connected them with financial services relevant to their enterprises and communities.
Digital skills for women entrepreneurs
Visa and NASSCOM Foundation teamed up to upskill women entrepreneurs with digital skills and financial literacy. Since the MSME sector in India faced severe impacts from the pandemic and over 70% of women entrepreneurs were affected, this program was a well-thought-out initiative. It effectively addressed the urgent need for support by focusing on upskilling women with essential digital skills and financial literacy.
Specifically, this initiative reached five states: Maharashtra, Uttar Pradesh, Karnataka, Telangana, and West Bengal. Additionally, it was part of Visa’s broader global effort to support 50 million small and micro businesses. The program was successful in helping women from underserved communities develop basic digital skills. It was also helpful in building their business knowledge.
Summing up Visa’s commitment to empowering women and youth in India
Visa’s efforts to support women and youth in India go beyond mere corporate obligation. By focusing on empowering women in business, Visa addresses current gender biases. Moreover, the company also promotes long-term economic growth and equality. Visa’s partnership programs show us that to make lasting change, it is essential to work with local organisations. These groups understand their communities’ unique challenges and opportunities. By teaming up with them, Visa ensures its efforts are more effective and inclusive, leading to real, relevant improvements.
At Changeincontent, we appreciate Visa’s efforts and commitment towards empowering women and youth in India.
Disclaimer: The views expressed in this article are based on the writer’s insights, supported by data and resources available both online and offline, as applicable. Changeincontent.com is committed to promoting inclusivity across all forms of content, which we broadly define as media, policies, law, and history—encompassing all elements that influence the lives of women and gender-queer individuals. Our goal is to promote understanding and advocate for comprehensive inclusivity.
