Post by account_disabled on Feb 22, 2024 0:19:52 GMT -5
Visa, the multinational financial services company, shared in its fifth report on corporate responsibility and sustainability, its achievements during 2019 on the most important ESG topics, organized into five areas of interest: Empower people and economies. Secure trade and protect customers. Invest in our workforce. Protect the planet. Operate responsibly. The report also includes a summary of Visa's efforts in 2020 to lead with its values the response to the global COVID-19 pandemic, and the racial and social justice movement in the United States. 5 highlights from the report 1. Empowering people and economies Visa believes that inclusive economies help everyone, everywhere. The company continued to boost economic growth by supporting small and micro businesses (SMEs); expanding financial access to the unbanked and underserved; building financial capacity; and strengthening their communities. These priorities increased in importance as small and micro businesses suffered globally as a result of the COVID-19 pandemic. Among its progress, the company: Reinforced its focus on building SME financial empowerment through programs and partnerships, including the deployment of new business and financial skills tools and resources in English and Spanish for SME owners.
It achieved its goal of helping 500 million unbanked and underserved people access digital payment accounts, including by offering products and solutions such as Visa Direct, contactless scanned payments to merchants, individuals and governments. She maintained her commitment to women's empowerment initiatives through programs such as She's Next, Money Is Changing, and Visa Everywhere Bulgaria Mobile Number List Initiative-Women's Edition. Supporting communities in times of crisis such as natural disasters, including recovery efforts following Cyclone Idai in Mozambique, Cyclone Fani in India and Hurricane Dorian in the Bahamas. 2. Secure trade and protect customers Visa demonstrated its ongoing commitment to implementing a multi-layered information security approach that enables reliable, trustworthy and frictionless digital payment experiences. Among its progress, the company: We are working closely with our clients to ensure business continuity while addressing needs arising from the pandemic and taking measures to help bring stability and minimize disruption to the payments ecosystem.
Prevented approximately $25 billion in fraud through the use of Artificial Intelligence, increased approval rates, and reduced consumer friction in the payments ecosystem. Continued implementation of Visa Token Service (VTS), which helps Visa customers create and maintain digital payment experiences while protecting sensitive consumer information from fraud. It received the highest rating in its sector from Gartner Consulting during the company's cybersecurity program review in 2019. 3. Invest in your workforce Visa remained committed to developing its world-class talent, fostering an inclusive and diverse culture, and offering benefits that promote the success of its employees. Among its progress, the company: Prioritized the health and safety of its employees during the pandemic by expanding remote work opportunities, established specialized engagement and feedback initiatives, expanded benefit offerings, and committed to no employee layoffs in calendar year 2020 related with COVID-19. They expanded offerings through Visa University—their flagship global learning platform offering courses facilitated by company leaders—which offers more than 80,000 learning resources. Encouraged employee engagement and development through the first Visa Learning Festival, a three-day interactive event focused on sparking curiosity.