Visa launches responsible credit education campaign in Egypt

The campaign is a cornerstone of Visa's wider objective of promoting financial literacy. It aims to share advice with the public on financial management skills and how to make the most of payment cards.

'We are very excited to lead this initiative in Egypt. It is very important for each and every one of us to learn how to maximize the value of the financial tools we have at our disposal,' said Tarek Elhousseiny, Visa's Vice President and General Manager for Egypt and North and West Africa.

'Payment cards are an essential tool offering ease, flexibility and convenience and they are fast becoming part of our daily life. It falls onto the financial institutions to help the public hone their financial management skills. We take seriously our responsibility towards the society and we are proud to lead this campaign as an active partner in the development of our community.'

A fun educational quiz developed by Visa will be broadcast on the popular Negoum and Nile FM radio stations throughout the campaign duration. An educational tip followed by a question will be aired daily. To take part in this campaign, listeners will SMS their multiple-choice answer to 4413. One winner will be selected daily to win a Nokia mobile phone and at the end of the campaign, all daily winners will be entered into a draw to win two state-of-the art laptops.

These tips were designed by Visa to help cardholders understand the basics of payment cards. They cover a wide range of topics including: the difference between a credit and a debit card; the importance of building good credit; what to do if a card is lost or stolen; using cards at Automated Teller Machines (ATMs); understanding financial statements and the importance of a cardholder agreement.

The campaign also encourages the public to learn more about financial management skills by visiting www.ehsib.com, a financial literacy website developed by Visa. Ehsib.com provides a wealth of advice, valuable tips and interactive tools designed to help users manage their personal finances. Ehsib.com is available in both Arabic and English.

'This campaign is an initiative that contributes towards a solid basis for financial literacy in Egypt,' said Elhousseiny. 'Payment cards are a universally accepted payment tool and they make our lives easier and more flexible. In today's fast paced world they have evolved to become a necessity and we must learn how to make the most of the tremendous benefits they offer.'