Global payments technology company Visa has received a Corporate Social Responsibility (CSR) award from the American Chamber of Commerce (AmCham) for its efforts in bringing meaningful and positive change to the people of Vietnam.
The award recognises Visa’s commitment to transparency, good governance, and sustainable business practices that create both long-term economic and social value. Visa was acknowledged as a role model for other companies as it demonstrates some of the best business practices that AmCham seeks to promote in the country.
The key highlight of Visa’s CSR activities in Vietnam is its annual financial literacy programme Practical Money Skills, which it has run since 2012. The programme is a collaboration between Visa and the Central Committee of Vietnam Students Association to teach students across the country how to manage their money responsibly.
“At Visa, we feel it is our responsibility to help build stronger, more sustainable communities. We do this by providing innovative digital payment products and services, by partnering to address critical needs in the areas of financial inclusion and financial literacy, by enabling volunteerism and charitable giving by our employees, and by supporting local causes and communities throughout the year, and in moments of crisis,” Sean Preston, Visa country manager for Vietnam, Cambodia, and Laos, said. “In particular, we look forward to continuing our work with the Central Committee of Vietnam Students Association to drive financial literacy and help equip students across the country with the necessary skills to budget, save and spend responsibility.”
Each year the format for Visa’s Practical Money Skills programme changes to keep the content fresh and students engaged. However, one thing remains constant: the programme always utilises peer-based learning, with students actually helping one another to learn. Over the course of the past five years the programme has seen students engage in video-making competitions, digital gaming tournaments, and running financial literacy workshops, reaching thousands of students at universities across Vietnam.
This year’s Practical Money Skills programme required students to create inspirational phrases and art works to promote financial literacy concepts to their peers. The programme received more than 800 entries from 84 universities across Vietnam and the best 50 pieces were toured around the country in a series of exhibitions in Hanoi, Ho Chi Minh City, Danang, Quang Ngai, and Haiphong, reaching nearly 16,000 students.
“We are incredibly happy with how successful the programne has been, and it’s hugely gratifying to know that what we’re doing will have a real, tangible benefit for the thousands of students who have been involved in the program to date,” said Preston.
AmCham’s CSR Recognition Award is designed to raise awareness of CSR among AmCham members and the community, and to provide recognition to firms with best practice CSR programmes in Vietnam.
To qualify for AmCham’s CSR Recognition Award, a member company’s CSR programme must receive high marks in four separate categories: attention to business objectives and societal needs, creation of long-term economic and social gains, communication and sharing of best practices, and programme sustainability.