What's New

VISA China Financial Literacy Development Alliance


In 2013, the government’s first Chinese Financial Literacy (FL) Research effort demonstrated widespread lack of financial knowledge among rural residents and teenagers, making them vulnerable in the modern economy where this knowledge is essential. To address the issue, Visa developed the first-ever Public-Private Partnership (PPP) CSR alliance in China’s financial industry—China Financial Literacy Development Alliance—integrating resources of Visa, the government and NGOs. Visa’s approach included: creative communications outreach to segmented audiences, a “Train the Trainer” program, and a Visa Financial Literacy Bus, the first-ever mobile FL classroom, equipped with computers and basic educational materials. More than 20,000 individuals in four major cities and eight counties participated in the FL program. Nine-five percent agreed they learned useful money management skills and would attend future sessions. Attention for FL was heightened via more than 500 positive TV, print and online media articles. Two key government bodies (CFDFE and CBRC PESC) and four NGOs (Adream, Better Education, Rural Women and Inno) joined the Alliance, making it one of China’s most important CSR mainstays for FL awareness. Visa also established vital communications channels with China’s two major financial-sector regulators. Regulators considered Visa’s grassroots educational model so successful it was evaluated for nationwide rollout.