Visa and GoHenry are extending a program that has been in place for ten years in the UK.
The largest payments company in the world and a youth-oriented prepaid card and financial education app have formed a new partnership that aims to improve financial literacy among young people around the globe, the companies said in a news release.
Through the new partnership, the two organizations will instruct young people aged 6 to 18 in financial literacy, and Visa will act as GoHenry’s sole global network partner for its prepaid cards in the US, the UK, and Europe.
Vanessa Colella, senior vice president, and director of global innovation and digital partnerships at Visa, claims that GoHenry has changed the rules of the game in terms of educating young people about money. We’re excited to increase our global partnership since it will support GoHenry’s objectives to break into new markets and roll out cutting-edge innovations that will empower parents and children everywhere.
The GoHenry app and prepaid card instruct young people in the areas of earning, saving, spending sensibly, charitable giving, and other financial concepts, according to a press release. Parents can also track their child’s progress in the program thanks to customizable controls and real-time updates provided by the program.
“With our recent European expansion and plans for continued growth, Visa’s in-country expertise, support, and strong global brand will be invaluable as we work to serve and grow our two million+ member base and achieve our mission to make every kid smart with money,” said GoHenry co-founder and U.S. President Dean Brauer.
This information comes after GoHenry acquired PixPay, a French company that provides an identical service, around four months ago. According to GoHenry, the acquisition will enable it to quickly diversify its clientele beyond the United States and the United Kingdom into continental Europe.
PixPay, a 2019 startup, has almost 200,000 users and has established itself as a leader in teen banking in France and Spain.
