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Visa Youth Prepaid Cards and financial capability Visa Europe Public This information is not intended, and should not be construed, as an offer to sell,

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Presentation on theme: "Visa Youth Prepaid Cards and financial capability Visa Europe Public This information is not intended, and should not be construed, as an offer to sell,"— Presentation transcript:

1 Visa Youth Prepaid Cards and financial capability Visa Europe Public This 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

2 Presentation Identifier.2 Information Classification as Needed Visa Public Visa Prepaid Youth Market December – 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

3 Presentation Identifier.3 Information Classification as Needed Visa Public Visa Prepaid Youth Market December Factors influencing youth payments Forward Thinking : Quantifying the Prepaid Opportunity in Europe August 2009 Increasing disposable income Dependence on parents Influence of parents Internet

4 Presentation Identifier.4 Information Classification as Needed Visa Public Visa Prepaid Youth Market December 2009 Visa prepaid youth products Under 18s 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

5 Presentation Identifier.5 Information Classification as Needed Visa Public Visa Prepaid Youth Market December 2009 Daily/weekly/monthly spending limits Visa youth prepaid card : Under 18s Financial education Sms alerts Parental involvement (website, consent for card application, access to spend data, ability to set spend limits, SMS alerts) Mandatory blocking for certain merchant categories Load and spend – can only spend what has been loaded to the card

6 Presentation Identifier.6 Information Classification as Needed Visa Public Visa Prepaid Youth Market December 2009 Visa youth prepaid card: 18 to 24 SMS alerts Top – ups from cardholder, parents, employers Help with budgeting Financial education Spending limit choices Load and Spend – no risk of going overdrawn Use it to pay anywhere Visa is accepted or at an ATM Return to Youth Products

7 Presentation Identifier.7 Information Classification as Needed For Visa Internal Use Only Visa Prepaid Youth Market December Cardholder Benefits Convenience Buy 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 Independence Allows young people to have the financial independence they seek A powerful tool for parents to use as part of financial education Security Safer than carrying cash Funds can be added on a regular basis and parents can track spending Acceptance Accepted anywhere Visa is – home and abroad Trusted and widely recognised payment brand Benefits to youthsBenefits to parents

8 Presentation Identifier.8 Information Classification as Needed For Visa Internal Use Only Visa Prepaid Youth Market December Visa Prepaid web pages Backhttp://www.visaeurope.com/personal/youthprepaid/main.jsp

9 Presentation Identifier.9 Information Classification as Needed For Visa Internal Use Only Visa Prepaid Youth Market December 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

10 Presentation Identifier.10 Information Classification as Needed For Visa Internal Use Only Visa Prepaid Youth Market December Budget Buddy

11 Presentation Identifier.11 Information Classification as Needed For Visa Internal Use Only Visa Prepaid Youth Market December Money Game Backhttp://www.visaeurope.com/personal/youthprepaid/moneygame.jsp

12 Presentation Identifier.12 Information Classification as Needed For Visa Internal Use Only Visa Prepaid Youth Market December 2009 Money Game

13 Presentation Identifier.13 Information Classification as Needed For Visa Internal Use Only Visa Prepaid Youth Market December 2009 Money Game

14 Presentation Identifier.14 Information Classification as Needed For Visa Internal Use Only Visa Prepaid Youth Market December 2009 Money Game

15 Presentation Identifier.15 Information Classification as Needed For Visa Internal Use Only Visa Prepaid Youth Market December 2009 Money Game

16 Presentation Identifier.16 Information Classification as Needed For Visa Internal Use Only Visa Prepaid Youth Market December 2009 Money Game

17 Presentation Identifier.17 Information Classification as Needed For Visa Internal Use Only Visa Prepaid Youth Market December 2009 Money Game

18 Presentation Identifier.18 Information Classification as Needed For 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

19 Presentation Identifier.19 Information Classification as Needed For Visa Internal Use Only Visa Prepaid Youth Market December 2009

20 Presentation Identifier.20 Information Classification as Needed For Visa Internal Use Only Visa Prepaid Youth Market December Managing Money

21 Presentation Identifier.21 Information Classification as Needed For Visa Internal Use Only Visa Prepaid Youth Market December 2009 Managing Money

22 Presentation Identifier.22 Information Classification as Needed For Visa Internal Use Only Visa Prepaid Youth Market December 2009 Managing Money

23 Presentation Identifier.23 Information Classification as Needed For Visa Internal Use Only Visa Prepaid Youth Market December 2009 Managing Money

24 Presentation Identifier.24 Information Classification as Needed For 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

25 Presentation Identifier.25 Information Classification as Needed For 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


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