Visa and World Bank Team Up for $200 Million Digital Payments Push

Visa and the World Bank Group are teaming up to increase digital payments in emerging markets. The partnership, which includes a $200 million risk-sharing facility, aims to expand financial inclusion by connecting more underbanked consumers and small businesses to digital payment systems.

The initiative will focus on 14 countries in Latin America and the Caribbean, reaching approximately 50 financial institutions with below-investment grade ratings. Through this partnership, Visa and IFC aim to help millions of people and small businesses access secure and reliable payment solutions.

'Access to digital payments can help unlock economic opportunity,' said Paul Fabara, Visa's Chief Risk and Client Services Officer. 'Through this first-of-its-kind partnership with IFC, Visa will help financial institutions bring secure and reliable payment solutions to more people and small businesses in emerging markets.'