“The purpose of Visa is to uplift the world by engaging them in the digital economy…Visa is so much more than a credit card,” she said in the session called ‘The New Paradigm of Payments’, chaired by Arijit Barman, Associate Editor, The Economic Times.
Tullier also spoke on Visa’s work with uplifting women in India in collaboration with United Way of Mumbai.
“We together provide training and the tools to bring women entrepreneurs into the digital economy and be able to facilitate their businesses,” she said. She noted that the partnership has helped over 10,000 women since its inception recently. “They enter the workforce, they earn money, real revenue and then they start to hire other women in their businesses…they make sure they build the communities together.”
India’s financial innovation, inclusion
Tullier further said that the financial innovation that has happened in India, including UPI is incredible.
“Payments are all about innovation…the QR code is amazing technology, amazing development,’ she said.
“Financial inclusion is amazing in this country…it is so important to economic growth for the individual and for the country. But there is a journey beyond that. Once you get them into digital commerce, then you want to accelerate their growth and continue their empowerment through products that we might be able to provide,” she added.
Tullier also said that partnering with different people including the government is important in order to get as many people involved in the digital economy as possible.
The Visa vice chair also spoke on its Bengaluru campus where the number of engineers, technicians and innovators has increased by a thousand this year, totalling 4,000 now.
“They develop great innovation there that we transport around the world. They developed a product recently in cooperation with a Japanese client..we have introduced it to Japan, the United States, and we will take to other places around the world,” she informed.
Tullier noted that Bengaluru’s innovation hub is an important tech hub for Visa from around the world.
