Visa and GoHenry Announce Global Partnership to Accelerate Financial Education for Children and Teens

Rhea-AI Summary

Visa (NYSE: V) has announced a seven-year global partnership with GoHenry, the financial education app and prepaid card for children aged 6 to 18. This partnership strengthens Visa's role as the exclusive global network partner for GoHenry’s prepaid cards in the US, UK, and Europe. With a mission to enhance financial literacy for young people, GoHenry has influenced the youth finance sector for over a decade. The partnership aims to facilitate operations and support GoHenry’s growth after its acquisition of French fintech Pixpay and a recent $55 million capital raise.

Positive

• GoHenry has over 2 million members, indicating strong user engagement and market presence.
• The partnership enhances GoHenry's operational capacity and global expansion efforts.
• Visa's established global brand and network will aid GoHenry in reaching new markets effectively.
• The collaboration supports GoHenry's interactive financial education model for kids, which is timely and relevant.

Negative

• None.

Visa and GoHenry expand successful work in the UK to help children across the world gain confidence with money and becomes the exclusive network partner for GoHenry’s prepaid cards for kids and teens in the US, UK, and Europe

SAN FRANCISCO--(BUSINESS WIRE)-- Visa (NYSE: V) today announced a seven-year global partnership with GoHenry, the prepaid card and financial education app for 6-to 18-year-olds. Visa will provide support as the exclusive global network partner for GoHenry’s prepaid cards for kids and teens in the US, UK, and Europe.

GoHenry helped expand a new category in youth finance 10 years ago with a simple mission: to make every kid smart with money. Since then, with Visa’s support, GoHenry has helped transform financial education for kids, teens, and their parents. The GoHenry financial education app and prepaid card help young people learn about money through several categories including earning, saving, spending responsibly, and charitable giving. The app also enables parents to guide their child’s progress with features like real-time updates and customizable controls.

“When GoHenry first launched into the financial education space, we needed a dynamic, reliable partner that was able to offer us support and guidance not only as a new player in the sector, but with our future plans for expansion, too,” said Dean Brauer, co-founder and US President, GoHenry. “Through the last 10 years working together in the UK, Visa has gone above and beyond our expectations. 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-plus member base and achieve our mission to make every kid smart with money.”

In the UK, GoHenry has been harnessing Visa’s secure network and issuing Visa-branded cards since it launched in 2012. With the global deal announced today, Visa will help bolster GoHenry’s expansion plans and its work to streamline operations following its acquisition of French fintech, Pixpay and its recent $55m growth capital round.

Parents using GoHenry will also be able to seamlessly load funds to their child’s GoHenry account using their Visa debit cards through Visa Direct, giving their kids and teens quicker access to their money.

“GoHenry has changed the game for financial education for young people,” said Vanessa Colella, SVP and Global Head of Innovation and Digital Partnerships at Visa. “We’re excited to expand our global partnership, which will support GoHenry’s plans to launch in new markets and offer new features that empower parents and children around the world.”

Alongside access to Visa’s brand, scale, and global acceptance footprint, Visa has helped GoHenry reach new audiences far and wide. Most recently, the two companies launched an award-winning campaign for the Olympic Games Tokyo 2020. Thanks to Visa, GoHenry provided exclusive content to its UK customers featuring Team GB and Team Visa skateboarder, Sky Brown, and launched an Olympic-themed, limited-edition collection of Visa prepaid cards.

About Visa:

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

About GoHenry:

A pioneer in financial literacy for 6-18-year-olds, GoHenry is a financial education app and prepaid debit card with in-app, gamified money lessons designed to teach kids and teens how to be smart with money from a young age.
Launched in 2012, GoHenry helps young people learn about money by empowering them with essential money management skills tailored to their age that they can put into practice in a safe environment - all with parental oversight.

GoHenry’s in-app financial education lessons, Money Missions, enhance this real-life learning with an interactive, rewarding, and fun way for kids and teens to build essential money skills for life.

For more information, visit GoHenry.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20221129005355/en/

Visa: Jackie Dresch -  jdresch@visa.com

GoHenry: Allyce Buniak -  allyce.buniak@gohenry.co.uk 

Source: Visa Inc.

FAQ

What is Visa's partnership with GoHenry about?

Visa announced a seven-year global partnership with GoHenry to provide support as the exclusive global network partner for its prepaid cards.

How does Visa's partnership benefit GoHenry?

The partnership will enhance GoHenry's operational support, global expansion plans, and user engagement through Visa's established network.

When was Visa's partnership with GoHenry announced?

The partnership was announced on a recent date, as part of a press release.

What financial impact does the partnership have for Visa?

While specific financial impacts were not disclosed, the partnership may drive further engagement in the youth financial education space.

What is GoHenry's main product offering?

GoHenry offers a prepaid card and financial education app designed for children aged 6 to 18 to learn money management skills.