Payment service provider Visa has announced that it is developing a new financial literacy-themed web game in a bid to help educate young Malaysians on making informed financial decisions. The Mind Your Ringgit game is yet another initiative rolled out in conjunction with the Financial Literacy Month (FLM 2020) in October – an event that is organised by the Financial Education Network (FEN).
Mind Your Ringgit – which takes its name from the acronym of Malaysia’s currency (MYR) – is a simulation-based game that will take place over the span of a year. Each month, players will be presented with scenarios depicting real-life events so that they can resolve the situations by making necessary financial decisions. The game also incorporates a range of financial themes, including digital payments, financial scams, insurance, investments, loans, and savings.
In a statement, Visa said that this game is meant to challenge young Malaysians in their thought process when managing finances, as well as to teach them financial concepts. Additionally, it helps them grasp the consequences of their financial decisions. The payment service provider also said that its effort is in line with the objectives of the National Strategy for Financial Literacy 2019-2023, a five-year plan aimed at improving the country’s level of financial literacy.
“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 programmes that ensure Malaysians are equipped with the knowledge to manage their finances,” said the country manager (Malaysia) of Visa, Ng Kong Boon.
Meanwhile, the chief executive officer of AKPK, Azaddin Ngah Tasir, said that the debut of Visa’s Mind Your Ringgit game is timely, especially amidst the current financial landscape. “The situation has now become even more challenging due to the unprecedented Covid-19 pandemic that warrants behavioural changes and new ways of doing things in adapting to the norm,” he said.
At present, Visa has released the demo version to a selected group of Malaysians for pilot testing. It will be made available to the public in early 2021.