vritti
22
Changing Lives
May 2017
Mobile financial services have become the
most promising mobile applications in the
developing world. Mobile Money is slowly
evolving as an ecosystem spread across
commerce, healthcare, agriculture and
other sectors. It is driving financial inclusion
in developing economies and has
tremendous potential in bridging the
financial gender gap as well. While urban
men have emerged as the early adopters of
mobile money, the mobile operators are
currently involved in expanding their
services to reach to have a wider
penetration that encompass rural regions as
well. While low levels of literacy and mobile
phone ownership among women are barriers,
still with much simplified usage it can soon
become popular among women as well.
GSMA conducted a study in 2016 to identify
the gender gaps in the mobile money usage
journey in Kenya that has become the most
mature mobile money market in the world.
Women have very specific needs for
financial management:
Mobile financial services have become the most
promising mobile applications in the developing
world. Mobile Money is slowly evolving as an
ecosystem spread across commerce, healthcare,
agriculture and other sectors. It is driving financial
inclusion in developing economies and has tremendous
potential in bridging the financial gender gap as
well. While urban men have emerged as the early
adopters of mobile money, the mobile operators
are currently involved in expanding their services
? !
Unaware Aware
UNREGISTERED USER
Understand
a Convenience: Since women take care of the
household so they are constrained in terms of
time and hence they will be more inclined
towards a financial product that is easy to use.
b Reliable: Women are known to save money for
emergencies. So, the financial tool that they use
to save money should immediately provide them
their savings when they require.
c Secure: In many households, women are
responsible for budgeting and taking care of
essentials such as payment of school fees, etc.
Women are concerned that the savings are safe
and expenditure can be transacted securely.
d Privacy: Women want to independently save
and spend the money. They do not like other people
interfering with the way they manage the funds.
e Price Sensitive: Women are economic and
bargain during spending of funds. They require a
financial product that is cost effective.
f
Risk Averse: Women are not known to take
risks with their savings. Normally the savings are
small and they want to ensure that the same can be
liquidated easily as wand when required. Women
are less likely to try new financial services compared
to men as they perceive the risks involved.
to reach to have a wider penetration that encompass
rural regions as well. While low levels of literacy
and mobile phone ownership among women are
barriers, still with much simplified usage it can
soon become popular among women as well.
GSMA conducted a study in 2016 to identify the
gender gaps in the mobile money usage journey
in Kenya that has become the most mature
mobile money market in the world. Women have
very specific needs for financial management:
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