Page 4 - Connected Women
P. 4
GSMA MOBILE MONEY FOR THE UNBANKED & CONNECTED WOMEN REACHING HALF OF THE MARKET: WOMEN AND MOBILE MONEY
The case for reaching women with mobile financial services
Only 32% of respondents to the 2013 Global Mobile Money Adoption Survey reported knowing the gender composition of their customer
4
base, suggesting that operators may be overlooking a promising commercial opportunity.
• Women represent half of the potential customer base in every market.
Mobile money operators that do not take account of the gender split of “The vision of Telenor is ‘Empower Society’,
their customer base could miss out on a huge segment of the market. and society is made up of men and women;
women make up 50% of the potential
• Women are more likely to receive than send mobile money. The market so this is why we are actively trying
interviews with mobile money operators revealed that, in many to reach more women with Easypaisa.”
markets, women are more likely to receive mobile money than send it, – Telenor Pakistan
while senders tend to be primarily men. This suggests that financially
dependent women are a key market segment since they use mobile money to receive transfers from their relatives and social
payments from the government or aid organisations. Mobile money operators have tended to focus on the ‘active’ side of the
transaction (the senders), and less on the ‘passive’ side of the transaction (the recipients), forgetting that recipients are just as
important to a successful network. Other groups of women are promising segments as well; some operators are targeting female
5
business owners or female students with a different value proposition.
• To be successful, mobile money services must meet women’s unique financial needs. Research conducted by the GSMA in
partnership with the Visa Foundation shows that women are active household financial managers with specific wants and needs
6
when it comes to financial management:
• Convenience – Women are time-poor and need financial tools that fit into their busy daily routine.
• Reliability – Women need reliable financial tools that allow them to access money quickly in emergencies.
• Security – Women need to trust the financial tool that is safeguarding their money.
• Privacy – Women feel empowered and independent if they can save and spend their money how they like, without undue demands.
Informal financial services do not always meet these needs, but mobile financial services could have strong appeal for women.
“Initially, we wanted to attract more female customers because they are the household’s financial managers. Salary
payment over mobile money is very popular in Somaliland, but men would usually withdraw the amount received to
give it to their wife in cash. We wanted to attract more female customers so that men could send their salary to their
wife over mobile money. This way, money stays in the system instead of being cashed out.”
– Telesom
4. 32% of 92 respondents reported knowing the gender composition of their customer base.
5. For examples of female segments of the market (or other demographic groups), see “Women and Mobile: A Global Opportunity”,
http://www.gsma.com/mobilefordevelopment/wp-content/uploads/2013/01/GSMA_Women_and_Mobile-A_Global_Opportunity.pdf, p. 9.
6. GSMA mWomen Programme, 2012, “Unlocking the Potential: Women and Mobile Financial Services in Emerging Markets”,
http://www.gsma.com/mobilefordevelopment/wp-content/uploads/2013/02/GSMA-mWomen-Visa_Unlocking-the-Potential_Feb-2013.pdf, p. 11.
4
The case for reaching women with mobile financial services
Only 32% of respondents to the 2013 Global Mobile Money Adoption Survey reported knowing the gender composition of their customer
4
base, suggesting that operators may be overlooking a promising commercial opportunity.
• Women represent half of the potential customer base in every market.
Mobile money operators that do not take account of the gender split of “The vision of Telenor is ‘Empower Society’,
their customer base could miss out on a huge segment of the market. and society is made up of men and women;
women make up 50% of the potential
• Women are more likely to receive than send mobile money. The market so this is why we are actively trying
interviews with mobile money operators revealed that, in many to reach more women with Easypaisa.”
markets, women are more likely to receive mobile money than send it, – Telenor Pakistan
while senders tend to be primarily men. This suggests that financially
dependent women are a key market segment since they use mobile money to receive transfers from their relatives and social
payments from the government or aid organisations. Mobile money operators have tended to focus on the ‘active’ side of the
transaction (the senders), and less on the ‘passive’ side of the transaction (the recipients), forgetting that recipients are just as
important to a successful network. Other groups of women are promising segments as well; some operators are targeting female
5
business owners or female students with a different value proposition.
• To be successful, mobile money services must meet women’s unique financial needs. Research conducted by the GSMA in
partnership with the Visa Foundation shows that women are active household financial managers with specific wants and needs
6
when it comes to financial management:
• Convenience – Women are time-poor and need financial tools that fit into their busy daily routine.
• Reliability – Women need reliable financial tools that allow them to access money quickly in emergencies.
• Security – Women need to trust the financial tool that is safeguarding their money.
• Privacy – Women feel empowered and independent if they can save and spend their money how they like, without undue demands.
Informal financial services do not always meet these needs, but mobile financial services could have strong appeal for women.
“Initially, we wanted to attract more female customers because they are the household’s financial managers. Salary
payment over mobile money is very popular in Somaliland, but men would usually withdraw the amount received to
give it to their wife in cash. We wanted to attract more female customers so that men could send their salary to their
wife over mobile money. This way, money stays in the system instead of being cashed out.”
– Telesom
4. 32% of 92 respondents reported knowing the gender composition of their customer base.
5. For examples of female segments of the market (or other demographic groups), see “Women and Mobile: A Global Opportunity”,
http://www.gsma.com/mobilefordevelopment/wp-content/uploads/2013/01/GSMA_Women_and_Mobile-A_Global_Opportunity.pdf, p. 9.
6. GSMA mWomen Programme, 2012, “Unlocking the Potential: Women and Mobile Financial Services in Emerging Markets”,
http://www.gsma.com/mobilefordevelopment/wp-content/uploads/2013/02/GSMA-mWomen-Visa_Unlocking-the-Potential_Feb-2013.pdf, p. 11.
4
