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Transcript of Visa Youth Prepaid Cards and financial capability Visa Europe Public This information is not...
Visa Youth Prepaid Cards and financial capability
Visa Europe PublicThis information is not intended, and should not be
construed, as an offer to sell, or as a solicitation of an offer to purchase, any securities
Presentation Identifier.2Information Classification as NeededVisa PublicVisa Prepaid Youth Market December 2009
18 – 24 : 31m12 – 17 : 64m
European youth market
There are 95m young people aged 12 – 24 living in Europe representing 17% of the total population.
Forward Thinking : Quantifying the Prepaid Opportunity in Europe August 2009
Presentation Identifier.3Information Classification as NeededVisa PublicVisa Prepaid Youth Market December 2009 3
Factors influencing youth payments
Forward Thinking : Quantifying the Prepaid Opportunity in Europe August 2009
Increasing disposable income
Dependence on parents
Influence of parents
Internet
Presentation Identifier.4Information Classification as NeededVisa PublicVisa Prepaid Youth Market December 2009
Visa prepaid youth products
18 - 24 Under 18’s €36bn pa cash spend
Strong preference for debit over credit due to debt concerns
50 – 60% of students have part-time jobs
A general purpose card loaded either by themselves or by parents/ employers
71% of European teenagers receive
a monthly allowance
Average allowance is €35 per month
A prepaid card loaded by parents
Substitute for cash allowances and pocket money
click for more information
click for more information
Presentation Identifier.7Information Classification as NeededFor Visa Internal Use Only Visa Prepaid Youth Market December 2009 7
Cardholder Benefits
ConvenienceBuy what you want when you want to but keeping spending
under control
Provides young people with easy access to funds using a
trusted payment brand
IndependenceAllows young people to have the financial independence
they seek
A powerful tool for parents to use as part of financial
education
SecuritySafer than carrying cashFunds can be added on a
regular basis and parents can track spending
AcceptanceAccepted anywhere Visa is –
home and abroadTrusted and widely
recognised payment brand
Benefits to youths Benefits to parents
Presentation Identifier.8Information Classification as NeededFor Visa Internal Use Only Visa Prepaid Youth Market December 2009 8
Visa Prepaid web pages
Backhttp://www.visaeurope.com/personal/youthprepaid/main.jsp
Presentation Identifier.9Information Classification as NeededFor Visa Internal Use Only Visa Prepaid Youth Market December 2009 9
Online learning module for schools
Financial education tools available
Budget tool
Money Game
• Help foster money management skills
• Developed by independent financial education experts
• Teaching packs for use in schools
Presentation Identifier.10Information Classification as NeededFor Visa Internal Use Only Visa Prepaid Youth Market December 2009 10
Budget Buddy
http://www.visaeurope.com/personal/youthprepaid/budgetbuddy.jsp Back
Presentation Identifier.11Information Classification as NeededFor Visa Internal Use Only Visa Prepaid Youth Market December 2009 11
Money Game
Backhttp://www.visaeurope.com/personal/youthprepaid/moneygame.jsp
Presentation Identifier.12Information Classification as NeededFor Visa Internal Use Only Visa Prepaid Youth Market December 2009
Money Game
Presentation Identifier.13Information Classification as NeededFor Visa Internal Use Only Visa Prepaid Youth Market December 2009
Money Game
Presentation Identifier.14Information Classification as NeededFor Visa Internal Use Only Visa Prepaid Youth Market December 2009
Money Game
Presentation Identifier.15Information Classification as NeededFor Visa Internal Use Only Visa Prepaid Youth Market December 2009
Money Game
Presentation Identifier.16Information Classification as NeededFor Visa Internal Use Only Visa Prepaid Youth Market December 2009
Money Game
Presentation Identifier.17Information Classification as NeededFor Visa Internal Use Only Visa Prepaid Youth Market December 2009
Money Game
Presentation Identifier.18Information Classification as NeededFor Visa Internal Use Only Visa Prepaid Youth Market December 2009
and Visa working together
• NIACE is a membership-led voluntary organisation
– Our mission is to promote adult learning – more, better and different opportunities to learn
– Our 700 members include colleges, universities and voluntary organisations
– 250 staff working throughout UK
• Our work includes:
– Advocacy – working with policy-makers at all levels
– Research – finding out what works best for adult learners
– Supporting educators with training and resources
• Partnerships with other sectors
– Our partnership with VISA is the first in the banking sector
– Financial services companies have an important role to play in financial learning
Presentation Identifier.19Information Classification as NeededFor Visa Internal Use Only Visa Prepaid Youth Market December 2009
http://www.visaeurope.com/personal/youthprepaid/financialed.jsp
Presentation Identifier.20Information Classification as NeededFor Visa Internal Use Only Visa Prepaid Youth Market December 2009 20
Managing Money
Presentation Identifier.21Information Classification as NeededFor Visa Internal Use Only Visa Prepaid Youth Market December 2009
Managing Money
Presentation Identifier.22Information Classification as NeededFor Visa Internal Use Only Visa Prepaid Youth Market December 2009
Managing Money
Presentation Identifier.23Information Classification as NeededFor Visa Internal Use Only Visa Prepaid Youth Market December 2009
Managing Money
Presentation Identifier.24Information Classification as NeededFor Visa Internal Use Only Visa Prepaid Youth Market December 2009
The Visa Prepaid Financial Education Plan
• Schools programme
– Worksheets
– Lesson plans
– Developed by education professionals
• Staff volunteering
– Encourage involvement from staff at Visa and our Member banks
Presentation Identifier.25Information Classification as NeededFor Visa Internal Use Only Visa Prepaid Youth Market December 2009
Thank you
Caroline Birchinall
Senior Manager, Head of Prepaid Proposition Development
Visa Europe
Howard Gannaway
Research Fellow in Financial Education
National Institute of Adult Continuing Education, UK