The payments giant and the youth-oriented prepaid card and financial education app announced a new partnership that aims to improve financial education in youths around the world, the companies said Tuesday (Nov. 29) in a press release emailed to PYMNTS.
With the new partnership, the two organizations will help 6- to 18-year-olds around the world learn about money, and Visa will be the exclusive global network partner for GoHenry’s prepaid cards in the U.S., U.K. and Europe.
“GoHenry has changed the game for financial education for young people,” Vanessa Colella, senior vice president and global head of innovation and digital partnerships at Visa, said in the release. “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.”
GoHenry’s app and prepaid card help young people learn about earning, saving, spending responsibly, giving to charity and other aspects of money, according to the press release. It also provides parents with real-time updates and customizable controls so that they can guide their child’s progress in 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-plus member base and achieve our mission to make every kid smart with money,” GoHenry Co-founder and U.S. President Dean Brauer said.
This announcement comes about four months after GoHenry acquired the French company PixPay, which operates a similar service, and said the deal would enable it to rapidly grow its customer base from the U.K. and U.S. to continental Europe.
PixPay was founded in 2019 and has established itself as a leader in teen banking in France and Spain, with nearly 200,000 users.