Today, half the world’s adult population (2.5 billion) lacks access to basic financial services – the majority of which are women. With the rapid spread of cell phones, mobile financial services offer a unique opportunity to help close this gender gap.
At Visa we’re working with banks, governments and non-governmental organizations (NGOs) to provide the financially underserved with secure, reliable and affordable financial services at scale. To that end, Visa has partnered with GSMA’s mWomen Programme (GSMA) and Bankable Frontier Associates (BFA) to understand the wants and needs of women for mobile financial services in Indonesia, Kenya, Pakistan, Papua New Guinea, and Tanzania.
Mobile technology in the hands of women can provide access to life-enhancing services, but studies have shown that there is a demonstrated gender gap in mobile phone ownership and usage. In Pakistan, for example, only 12 percent of the total population has a bank account, and those who do are primarily men. In contrast, mobile phone usage hovers around 70 percent. This research will identify how to bridge that gap – connecting women to the mobile financial services they desperately need to enter the financial mainstream.
To learn more about women’s banking experiences in Pakistan, watch this video from the field and visit Mobile Payments Today for a guest contribution from Fundamo’s Aletha Ling and GSMA’s Chris Locke.
To read more about Visa’s commitment to financial inclusion and its mission to be the best way to pay and be paid, for everyone, everywhere click here.
 Half the World is Unbanked, Financial Access Initiative
Posted by: Douglas Sabo, Visa Corporate Responsibility on December 11, 2012 at 8:52 am