Visa Launches Research Center Committed to Promoting and Advancing Global Economic Equity and Inclusivity
The VEEI will develop new research and insights designed to inform long-term policy within the global payments ecosystem, and promote the value of digital payments and global networks to advance inclusion and drive economic growth. VEEI will serve as a forum for policymakers, regulators, non-governmental organizations and international organizations to convene and collaborate on policies to rebuild and grow the global economy.
“Visa’s unparalleled global network and perspective on economic trends will allow VEEI to develop novel insights on the payments ecosystem and provide actionable solutions for improving and enhancing communities,” said
“As our world becomes more complex and interconnected, it is paramount that we close gender, global development, ethnicity, and other inclusion gaps to achieve digital connectivity and access to global markets for all,” said
- Fostering Digital Equity and Inclusion, which will address societal issues, inclusive economic growth, financial inclusion, and micro, small and medium enterprises (MSME) recovery and resilience.
- Unlocking Growth through Trade, which will address the factors that encourage greater digital and cross-border trade.
- Imagining an Open Future for Payments, which will address the future of money, societal and cross-border issues and innovations that are shaping the way people pay and are paid, and MSME recovery.
In connection with the launch, the VEEI released a set of foundational position papers, highlighting some of the key contextual challenges its pillars of research will focus on, including:
- Fostering Digital Equity and Inclusion: The pandemic has accelerated several years of digital transformation into months, reinforcing the importance of digital connectivity and highlighting systemic inequities around access and barriers to usage. For example, while 93% of the world’s population lives within physical reach of mobile broadband or internet connections, nearly half (3.6 billion people) do not use it.i
- Unlocking Growth Through Trade: Trade agreements have not kept pace with advances in technology and economic growth in the digital economy. With few firm commitments on digital trade, protectionism is on the rise, threatening MSME growth and their connections to the broader digital economy.
- Imagining an Open Future for Payments: Payment innovations are increasing and demand a new approach to cybersecurity protections and financial services on new payment platforms.
VEEI is uniquely positioned to lead conversations between the public and private sectors and future publications will reflect this dialogue. To learn more about VEEI and to read the foundational position papers, please visit https://usa.visa.com/sites/visa-economic-empowerment-institute.html.
i Report of the Secretary-General. Roadmap for Digital Cooperation.