VISA - My Money Skills

Visa’s My Money Skills Campaign

Team 4, UAE:Maria Espinoza,

Chip Lowe,Isabella El Sheikh

A. Situation Analysis

Problem/Situation• The nation has been highly commercially

successful since its founding in 1971. • Genesis Institute research indicates Emirati’s

aren’t fluent in financial literacy.• 70% of Emirati youth have debt (2010 Arab Youth

Survey)• 70% are ‘Very Concerned’ about the nation’s

economy (2014 Arab Youth Survey)


Internal Factors• Emiratis are aware of the economic situation and

are seeking knowledge and information.• For Visa, communicating financial literacy is a CSR.• The company guiding principle is to to “provide

economic empowerment to consumers who use [their] products or services.”

• Visa has envisioned a global CSR campaign for their guiding principle and the current situation in the UAE marked the perfection launch for the Middle East.


External Factors• UAE is a federation of 7 emirates, each under the

jurisdiction of an emir.• Became independent as a nation in 1971.• The capital is Abu Dhabi. It is also the largest and

most prosperous emirate.


External Factors• Media Controls:

– The constitution in the UAE provides for freedom of speech but the government uses its judicial, legislative and executive powers to limit those rights.• UAE Federal Law No. 15

– The media in the UAE centered around the control of the government.• There are very few privately owned newspaper

companies in the UAE– Heavy reliance on advertisement and sponsorship for

revenue due to the decline of government subsidies– Reporters automatically tend to self-censor on sensitive

topics– In 2012 the government increased its efforts to silence the

media by arresting bloggers and activists


External Factors• Sensitive topics often avoided by

journalists include:–Ruling family, –Islam, National Security,– government, policies in place,– religion– relationships with neighboring countries


Public Relations in the Region• PR in the Middle East was influenced

by the development of media and thegrowth of the hospitality and tourism business sectors.

• Middle East Public Relations Association (MERPA) was launched in 2001 and was licensed by the government in 2002

• Gifts are expected for publication purposes• It is normal for press releases to be copied, word for word.• It is recommended that new PR firms in Dubai have global

connectivity. There are corporations from around the world station in Dubai because it is a hub for global interconnectivity


Masculinity/FemininityAs for the masculinity/femininity concept, the Arab culture is in the top third of countries stressing the importance of a male dominance with clearly delineated gender roles.

Power DistanceThis data concludes that Arabs score high in power distance, meaning there is an unequal distribution of power with an emphasis on male dominance.

Individualism/CollectivismHofstede and Hofstede measured the individualism/collectivism measure to be in the middle, but that is believed to be due to the numerous countries pooled into the data.

Uncertainty AvoidanceArab countries were ranked in the middle of the uncertainty avoidance, but again, is due to the variations among Arab nations.

Hofstede’s Cultural Dimensions

High Context Communications

Personal RelationshipsThey believe in building trust BEFORE engaging in business discussion.

Unwillingness to Say NoEmiratis do not like to give negative answers so one needs to tread lightly around questions that might entail the Arab to agree to a request that they do not intend to honor. They may give a vague answer or avoid responding.

PolitenessPoliteness is an important characteristic of Arabs. They believe in always treating another person, especially guests, with the utmost respect and courtesy,

IndirectnessA focus on the interpersonal relations mean there is often more of an emphasis on what someone wants to hear rather than on directness and honestly.

Power of WordsArabs are said to value the elegance of the spoken word. It is said that they have a love affair with language and place a great emphasis on the importance of words


Corruption Perceptions Index• The UAE has a score of 69 on the 2013

Corruption Perception Index.• Falls within one-third of total countries that score

over 50.• Very little abuse of power, secret dealings and

bribery.

B. Primary Publics/Audiences

Affected/Involved Publics• Primary audience identified by Visa as young

students throughout the UAE.• Achieved successful communication with this

target audience by partnering with institutions.• Prepared Arabic and English website and printed

materials.• Hosted regional workshops to educate teachers

that would act as program coordinators when using the My Money Skills program in the classroom & summer programs.

C. Overview of the Campaign

Campaign Theme• Name: My Money Skills• Tagline: “A financial literacy programme brought to you

by Visa”

Goals• Empower positive economic growth for individuals,

businesses and countries.• Provide free, relevant, accessible and innovative

financial education to individuals and their communities.• Facilitate entrance into the banking system for the

unbanked. • Reach 20 million people globally by May 1, 2013


Tactics• A global financial literacy initiative that

– Is localized for each country, allowing for customization based on an area’s level of economic development, cultural standards, education needs, government priorities and target audiences.

– Engages a personal finance message and uses mediums tailored for each region.

– Involves third-party partners, such as governments, schools, banks and NGOs, that are actively engaged to improve reach, awareness and impact of educational programs.


Evaluation & Stewardship Efforts• Visa sought feedback

from the teachers after they completed their workshops and students after they participated in a school-lead program.

D. Implementation

Overview of the My Money Skills website• Available in both Arabic and English to help

educate the citizen of the UAE on financial literacy.• Features include:

• Budgeting• Saving• Bank account management• Using credit cards wisely• Online shopping precautions against fraud

and proper preparation for the future.

D. Implementation

Website landing page (Arabic)

D. Implementation

Website landing page (English)

D. Implementation

Financial Football• Visa Inc. created an interactive

video game to help teach financial concepts. It started as a test run in the UAE with the game being soccer and it was focused around the World Cup.

• The fast-paced interactive game engages students while teaching them money management skills.

• Teams compete by answering financial questions to earn yardage and score touchdowns.

D. Implementation

Facebook: Visa Middle East page

D. Implementation

Facebook: Visa United States page

D. Implementation

Circuit of Culture• Representation

My Money Skills website – Arabic and EnglishFacebook

• ProductionEducational finance curriculum in classroom and summer camp environmentMoney smart tips, fact sheets and financial terms glossaryFree iPhone app of 29 financial calculatorsGames – Financial Football, online quiz shows

• ConsumptionMore than 76,000 people reachedContinued through video games and practice guides available online

• IdentityStudents who hold Visa cards

• RegulationUAE government controls and censors the media under Federal Law No. 15

E. Evaluation of the Campaign

• Campaign reached over 76,000 people during the first6-month, including 70,000 unique website views & 6,000 financial football games and brochures.

• Featured in over a dozen full or double-page spreads across 16 publications.

• PR value estimated at $1.5 million by DABO & Co case study

• Moving forward, biggest critics could point at small institutional partnership numbers; Visa can easily improve these moving forward.

F. Conclusion

• Visa successfully in localizing & implementing their core CSR in the UAE.

• Main takeaways include:– Truly comprehending

the nation or area where the campaignwill be implemented.

– Have a well-established brand in the region,if possible.

– Ensure your CSRcampaign truly matchesthe social efforts your company is passionate about naturally.

VISA - My Money Skills

Education

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