Visa, the world’s leader in digital payments, has announced the development of a new financial literacy themed web game Mind Your Ringgit, to educate young Malaysians on how to make informed financial decisions. This initiative is part of Malaysia’s Financial Literacy Month 2020 (FLM 2020), and it is also in support of the financial literacy efforts driven by the Financial Education Network, co-chaired by Bank Negara Malaysia and Securities Commission Malaysia.
Mind Your Ringgit is a one-year simulation-based game where scenarios depicting real-life events are created for players to make financial decisions every month. In line with the strategic priorities under the National Strategy for Financial Literacy 2019-2023, the purpose of this game is to challenge young Malaysians in their thought process when managing finances, teach them financial concepts, and help them understand the consequences of the decisions they make. The game incorporates financial themes such as digital payments, financial scams, insurance, investments, loans, and savings. Derived from the acronym MYR, which is the international code for the Malaysian Ringgit, the game is a reminder for players that every Ringgit counts.
“At Visa, we have been focused on promoting the importance of financial literacy for many years now, including partnerships with Agensi Kaunseling dan Pengurusan Kredit (AKPK), who is also a member of the Financial Education Network. We continue to be committed to creating new and relevant financial education programs that ensure Malaysians are equipped with the knowledge to manage their finances. Mind Your Ringgit is a creative way that adopts a digital approach towards helping young Malaysians learn how to balance their money, health, and happiness based on real-life scenarios,” said Ng Kong Boon, Visa Country Manager for Malaysia.
Azaddin Ngah Tasir, Chief Executive Officer for AKPK added “It has always been our aspiration to create a financially savvy society, especially among the young adults. Visa’s Mind Your Ringgit, a financial web game, targeted to enhance the financial literacy level among the youth, is deemed aptly and timely. The situation has now become even more challenging due to the unprecedented pandemic COVID-19 that warrants behavioural changes and new ways of doing things in adapting to the new norm. Our heartfelt gratitude and appreciation to Visa for another successful year of strategic and successful collaboration and also for supporting our Financial Literacy Month 2020 initiated by Financial Education Network (FEN).”
The demo version of the financial literacy web game is made available to a group of Malaysians who are selected for this closed group pilot testing. Participants that are selected to participate in the initial user testing will play the demo game and provide feedback on the content. Mind Your Ringgit will be made available to the Malaysian public early next year.