26
vritti
Changing Lives
May 2017
Differential Pricing of
Mobile Money Services
Women are more price sensitive than men and
look for cheaper alternatives while making
transactions. Therefore, mobile money providers
can charge less for same service if the consumer
is a woman. Gender based differential pricing
can attract a large number of women to get
registered to the mobile money services. The
family can encourage the women to open mobile
money accounts to get same service delivered at
lesser rates. Merchants can provide cash back
and loyalty points to women on making
purchases. Mobile operator can distribute free
airtime or joining bonus to women that register to
mobile money services. Similarly attractive
interest rates can be offered on micro loans
disbursed using mobile money. Mobile money
providers can also provide interest on the
savings by women in their mobile money
account. Special campaigns can be launched
during International Women Day, Mother’s Day
etc where charges can be waived off for
transactions done by women consumers so as to
make them feel special and also promote the
usage of services.
Group Savings
Informal saving groups have come up in the
absence of banking infrastructure. Mobile money
providers can launch group savings product so
as to move away from traditional pooling of cash
by the groups that becomes difficult to operate
and manage. Women can form groups within
the locality and pool funds in a group account.
Al members of the groups can view the balance
and transactions done on group account so that
transparency is maintained. Borrowing can be
done on a rotating basis and each group can
have its own rules for disbursing of funds out of
the group savings account.
Econet has launched a similar product known as
“Savings Club” on its mobile money (Ecocash
platform). There is a Club Chairman who is the
owner of club account. There is one club secretary
and a club treasurer. Club member can place a
request to borrow a certain sum from the club.
The request is required to be approved by club
chairman, treasure and the club secretary. Post
which funds can be disbursed and the club
statement can be accessed by any club member.
60% of all Ecocash Saving Club users are women.