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Electronic payment network goes on literacy outreach

by Bathandwa Mbola
on 25 Mar 2008
BuaNews Online
BuaNews Online

Retail electronic payment network, Visa has unveiled this year's series of financial literacy community outreach shows which are aimed at improving financial literacy in the country.

For the first time Visa has partnered with government bodies such as the Department of Trade and Industry and the Umsobomvu Youth Fund in this initiative.

"These shows form part of Visa's financial literacy programme, which has been running since 2005, with various partners.

"Thus far, Visa has reached more than 82 000 people with their financial literacy message," said Visa's Corporate Communications Manager, Gillian Buchanan.

Financial literacy was imperative to bringing historically disadvantaged individuals into the mainstream of our economy.

"We are excited about these partnerships, since they help us to reach a larger audience.

"This time, our target audience is students at universities and Further Education and Training Colleges," said the Gillian Bucharan group, adding that students are often faced with the challenge of starting to manage their finances for the first time when they get to universities.

Visa follows a partnership approach to empower as many people as possible through financial literacy education.

The travelling theatre will perform in 28 locations over a two month period.

Through theatre, the story educates people on how to obtain access to financial services, using a debit card, managing money through budgeting and how consumers can protect their money by knowing their rights.

People are also educated on security measures such as the importance of keeping a PIN number safe.

"The strongest financial tool today is knowledge. Visa is committed to helping people learn how to manage their finances, as well as teaching them the benefits and responsibilities that come with owning Visa cards."

Research conducted at previous shows by Visa, through the use of questionnaires, has shown that educating consumers in this manner has a high impact, because the audiences both understand and remember the core messages well.

Of the 1 646 questionnaires filled in, where respondents answered 10 questions about the content of the show, 93 percent of the answers were correct. - BuaNews

Compiled by the Government Communication and Information System

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