Visa (NYSE: V) 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.”
Dean Brauer, co-founder and US President, GoHenry, stated:
“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. 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.”
Vanessa Colella, SVP and Global Head of Innovation and Digital Partnerships at Visa, remarked:
“GoHenry has changed the game for financial education for young people. 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.”