Research and Literature Review of Challenges to Women Accessing Digital Financial Services IN PARTNERSHIP WITH © International Finance Corporation 2016. All rights reserved. 2121 Pennsylvania Avenue, N.W. Washington, D.C. 20433 Internet: www.ifc.org The material in this work is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. IFC encourages dissemination of its work and will normally grant permission to reproduce portions of the work promptly, and when the reproduction is for educational and non- commercial purposes, without a fee, subject to such attributions and notices as we may reasonably require. IFC does not guarantee the accuracy, reliability or completeness of the content included in this work, or for the conclusions or judgments described herein, and accepts no responsibility or liability for any omissions or errors (including, without limitation, typographical errors and technical errors) in the content whatsoever or for reliance thereon. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. The findings, interpretations, and conclusions expressed in this volume do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The contents of this work are intended for general informational purposes only and are not intended to constitute legal, securities, or investment advice, an opinion regarding the appropriateness of any investment, or a solicitation of any type. IFC or its affiliates may have an investment in, provide other advice or services to, or otherwise have a financial interest in, certain of the companies and parties (including named herein). All other queries on rights and licenses, including subsidiary rights, should be addressed to IFC’s Corporate Relations Department, 2121 Pennsylvania Avenue, N.W., Washington, D.C. 20433. International Finance Corporation is an international organization established by Articles of Agreement among its member countries, and a member of the World Bank Group. All names, logos and trademarks are the property of IFC and you may not use any of such materials for any purpose without the express written consent of IFC. Additionally, “International Finance Corporation” and “IFC” are registered trademarks of IFC and are protected under international law. Photo Credits: World Bank Photo Library and Shutterstock. Table of Contents Acknowledgements iii Acronyms v Foreword vii I. Quick Tips for Digital Financial Service Providers to Reach Women 1 II. Introduction and Context 3 The Socio-Economic Situation for Women Globally 3 Socio-Economic Situation for Women in the Pacific Islands 4 III. Challenges for Women’s Access to Financial Services 7 Global Barriers 7 Barriers in the Pacific 10 IV. Women and Technology: Do Women Face Specific Challenges in 13 Accessing and Using Technology? Mobile Access and Usage - Papua New Guinea 14 V. How Can Digital Financial Services Be Used to Overcome the 17 Challenges Faced by Women? VI. Conclusion 23 VII. Appendices 25 1. Situation for Women in Papua New Guinea and Samoa – 25 Commonalities and Differences 2. Barriers to Women Accessing Financial Services in Papua New Guinea and Samoa 29 3. Case Studies 33 VIII. References 45 Table of Contents I Acknowledgements This report was compiled and written for the International Finance Corporation (IFC) by Lee-Anne Pitcaithly, Margarete Biallas, Rubin Japhta, Prashant Murthy with editing assistance from Elena Babkova, Carole Williams, Jeffrey Kane and Barbara Balaj, and design and layout support from Aichin Lim Jones and Amy Quach. Special thanks are given to PechMaly Khy at AMRET Cambodia, Merene Botsio of Fidelity Bank Ghana, Lelemba Phiri of Zoona Zambia, Ataur Rahman and Josh Woodward of FHI360, and Shahbano Hamid and Zain Javaid of Telenor Pakistan for providing their time for interviews and the provision of data for the case studies presented in this report. IFC Disclaimer The International Finance Corporation (IFC), a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. It fosters sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. The conclusions and judgements contained in this report should not be attributed to, and do not necessarily represent the views of IFC or its Board of Directors or the World Bank or its Executive Directors, or the countries they represent. IFC and the World Bank do not guarantee the accuracy of the data in this publication and accept no responsibility for any consequences of their use. Acknowledgements III Acronyms ANZ Australia and New Zealand Banking Group ATM Automated teller machine BISP Benazir Income Support Programme CBS Core Banking System CGAP Consultative Group to Assist the Poor CPAG Child Poverty Action Group DFS Digital financial services DFID Department for International Development (United Kingdom) FINCA Foundation for International Community Assistance FSP Functional Service Provider GDP Gross domestic product GHS Ghanaian Cedi GIZ Society for International Cooperation (Germany) GSMA Groupe Spéciale Mobile Association ID Identification IFC International Finance Corporation ILO International Labour Organization IMF International Monetary Fund INFE International Network on Financial Education KYC Know Your Customer MFI Microfinance Institution MFS Mobile Financial Services MNO Mobile Network Operator NGO Non-governmental organization NPL Non-performing loan Acronyms V OECD Organisation for Economic Co-operation and Development OTC Over the counter PIN Personal identification number PKR Pakistani Rupee POS Point of sale ROSCA Rotating Savings and Credit Associations SDG Sustainable Development Goals SIM Subscriber Identity Module SME Small and medium enterprise STEP Support Towards Early Profitability UN United Nations UNCDF United Nations Capital Development Fund VSLA Village Savings and Loan Associations WST Samoan Tala VI Research and Literature Review of Challenges to Women Accessing Digital Financial Services Foreword “Women, in particular, often bear the brunt of poverty and limited access to economic opportunity, including unfavorable financial access…Inequality is not just a moral issue—it is a macroeconomic issue…Growth has to be more inclusive, and for this, finance has to be more inclusive…to close the gender and inequality gap.” Christine Lagarde, Managing Director, International Monetary Fund, (IMF 2014) This report has been produced for the International This report is divided into four distinct sections, with Finance Corporation, a member of the World Bank each section having a sub-section relevant to the Group, as well as for the wider financial sector. It Pacific region. examines the current situation of financial exclusion for women globally, with a specific emphasis on 1. Insight into the socio-economic challenges faced the Pacific region. It aims to highlight the barriers by women globally. and other exclusionary factors that women face 2. A review of the global challenges facing women in in accessing formal financial services. It provides accessing formal financial services. options for how digital financial services — including technological product design and gender-sensitivity 3. A summary of the reasons why women do not own issues — can help to address these barriers based on mobile phones, and if they do, the challenges they research and experience. face in making full use of them. The mobile industry contributes 4.2 percent of global How the provision of digital financial services gross domestic product (GDP). However, 54 percent (specific design features of the technology and of women in low- and middle-income countries in the banker sensitivity) can help the industry and women East Asia and Pacific region do not own a phone. With overcome many of these challenges. 531 million women not participating in the economy in this way, there is still a large, untapped potential in This report also includes a bibliography of useful services using mobile technology. resources on this topic, case studies of how banks have tried various innovations to improve women’s Research for the report was primarily carried out participation rates, and direct quotations for applicable through a desk review of available literature and research. individual interviews with experts providing women- focused digital financial services (DFS) across the world. Foreword VII I. Quick Tips for Digital Financial Service Providers to Reach Women Recognize That Your Current Information should be given to them up front to help Offerings Do Not Always Suit Women them feel ready to make their decisions. No one has purposely excluded women from digital Women talk and share. If a service provider is really financial services (DFS). Any oversights in this field are helpful and easy to talk to, that may even become a by default, as banking has traditionally been done for reason for meeting. men and by men. Before 1974, even American banks were legally allowed to discriminate against women If You Sell It – Make Sure It Works applying for credit.1 The exclusionary behaviour of financial service providers exists globally for women If women have put in the time to understand your across all income levels.2 Businesses looking to product and decide to give their money, they want it leverage female participation in the economy should to work just as promised. Be sure to provide women recognize that women wish to be engaged, and that a clear and responsive feedback point for problems. they may participate in different ways. Women Travel in Packs For Higher Returns, Slow Down the Women are less likely to visit a bank branch. This is Sale due to time constraints, the cost of travel, as well as This seems counter-intuitive, but it works. Women are societal and cultural norms. This does not mean that more risk-aware than men and take longer to make women are hidden, though. Women group together decisions. They do make decisions though, and when a lot. Look for a group — market sellers, mothers’ they do, they tend to have not worse NPLs than men.3 groups, church choir, lending/saving associations, and neighborhood meetings. Get to the Point Relieve the Burden Women still want to know what interest rate they will receive/pay, but there are so many more questions Women are time-poor. Quite often they have the they have. Women want to know how a service works. responsibility of children, the household, and income They need to know things like where to transact, how generation. Women are looking for solutions that to transact, the fees that will be charged, and how help them with more than one challenge. Providing mistakes are rectified. These issues are important. solutions such as insurance, vendor discounts, health 1. https://en.wikipedia.org/wiki/Equal_Credit_Opportunity_Act. 2. http://www.ft.com/cms/s/2/b681b8e6-2705-11e6-8b18-91555f2f4fde.html?siteedition=intl#axzz4IhqGrbk4. 3. This is a loan that is in arrears for usually more than 30 days. I. Quick Tips for Digital Financial Service Providers to Reach Women 1 information, access to like-minded networks is The primary hurdle to access is the cost of the handset attractive to women. and its usage. As a provider of services, women can be helped over this hurdle by breaking down the cost. Build the Trust Bundling low-cost, easy to use handsets into a sales offer may help. It could also help drive usage and Though it is hard to hear — many women just do not product desirability. trust banks. Banks are not considered part of their trusted service providers. However, this does not Pink is Not Enough mean that they do not want to trust. Bank accounts, loans and automated teller machine (ATM) cards are Banks have argued that their products are designed all desired by women, as cited in aspirational surveys. to be accessible to all. Some banks have also gone a step further by ‘feminizing’ the name or brand color In addition, women like to discuss things with other of the product. These sales tactics may not work for women. Banking tends to be quite a male-dominated women. Women are looking for the slow sale, the environment. Using women to communicate about plain-talking, the easing of the burden, and the sense the product may help bring more female customers of inclusion. into the banking network. Work your Data Learn the Language Most banks and financial institutions already have Globally, women have received less formal education a lot of information on its current female clients. than men, resulting in lower levels of literacy and Institutions should spend time analysing data and numeracy. However, this does not mean that women talking to female customers. What, if any, are the do not communicate about money. Words such as different patterns in transacting? What trends are ‘balance’, ‘interest’, ‘transaction’, and ‘budget’ may not yet understood? A lot of answers may already be be completely foreign to them, but the concepts available. Institutions need to look for them. behind these words are not. In this regard, it is important to find the language that local women use In developing countries, there are many organizations when discussing money and communicate to them trying to promote access by to financial services by in their language. Help them to learn from a starting women using the latest technology. Developing a point where they feel comfortable and safe. database about women can facilitate value-added partnerships. Women have said that they want Give them Phones information that helps them in their daily lives. Being of service to female customers can also help Much of the research on women’s access to DFS link women to many other forms of useful financial revolves around the fact that women are less likely to information. own or have access to mobile phones. Although this is still a challenge, even in 2016, it is slowly changing. 2 Research and Literature Review of Challenges to Women Accessing Digital Financial Services II. Introduction and Context Since 2009, G20 Leaders have made commitments The Socio-Economic Situation for to improving access to financial services for the Women Globally poor. This included endorsing the ‘Principles for Innovative Financial Inclusion’ at the Toronto Statistics from the United Nations report on World’s Summit in 2010. These Principles advocate for the Women 2015 (United Nations 2015b) reveal that use of technological and institutional innovations to women and girls comprise nearly half of the world’s expand access to financial services. This is crucial to population, but their socio-economic status is far boosting economic participation for the more than 2 below its potential. Inequalities still exist, including billion people worldwide who currently lack access to disparities in work, education and literacy levels, formal financial services, most of whom are women4. discriminatory statutory and customary laws, and levels of gender-based violence. Specific targets for the United Nation’s Sustainable Development Goal (SDG) to ‘Achieve gender Inequality in work and pay equality and empower all women and girls’5 echo the commitments to “Undertake reforms to give women Globally, only half of working-age women participate equal rights to economic resources, as well as access in the labor force, compared to three-quarters of to ownership and control over land and other forms working-age men7. When women do work, they of property, financial services, inheritance and natural continue to be denied equal pay for work of equal resources, in accordance with national laws” and value and are less likely than men to receive a “Enhance the use of enabling technology, in particular pension. Consequently, women face large income information and communications technology, to inequalities throughout their lives. Across all sectors promote the empowerment of women”.6 and occupations, women on average earn less than men; in most countries, women in full-time jobs earn However, written commitments alone will not change between 70 and 90 percent of what men earn (United this lack of parity and inclusion. Much needs to be Nations 2015b). In developing countries, up to 95 done by governments, the international community percent of women’s employment is in the informal and the private sector. sector that is in jobs that are unprotected by labor laws, or which do not benefit from social protection. Women spend, on average, three hours more per day 4. According to the Global Findex (2014) database, 156 million more men than women have an account at a bank or other financial institution or mobile money provider. 5. http://www.un.org/sustainabledevelopment/gender-equality/#751f89fa361630f60v 6. Ibid. 7. Calculated using data from the International Labour Organization (ILO). 2015. “Key Indicators of the Labour Market (KILM) Database.” Accessed June 2016. http://www.ilo.org/empelm/what/WCMS_114240/lang--en/index.htm II. Introduction and Context 3 than men on unpaid work in developing countries. Gender-based violence When all work—paid and unpaid—is considered, women work longer hours than men (United Nations Around one-third of women worldwide have 2015b). On the whole, then, women are the ultimate experienced physical and/or sexual violence by an multi-taskers. They work more hours, for less pay, intimate partner, or sexual violence by a non-partner caring for children, elderly relatives and carrying other at some point in their lives. Intimate partner violence domestic burdens as well. This restricts their time and is the most common form of violence, peaking during mobility for economic activities or entrepreneurship. women’s reproductive years in both developed and Also, societal and cultural norms often impact their developing countries. Prevalence declines with age, financial independence and/or decision-making but persists among older women. In the most extreme abilities within the household. cases, violence against women can lead to death; around two-thirds of victims of intimate partner or Low education and literacy levels family-related homicides are women (United Nations 2015b). Although the gender gap has narrowed, in some developing countries, the disparities regarding girls are stark. Today, 58 million children of primary school Socio-Economic Situation for age worldwide do not attend school. More than half Women in the Pacific Islands8 of these are girls and nearly three-quarters live in sub- One of the three core values of the Maya Declaration9 Saharan Africa and southern Asia. Despite progress in — self-determination, highlighted the fact that each educational access, an estimated 781 million people country’s circumstances are different, and that there aged 15 and over remain illiterate. Nearly two-thirds is not a simple off-the-shelf solution to development of them are women, a proportion that has remained needs. This paper focuses on the Pacific. Within the unchanged for two decades (United Nations 2015b). region, there is a great deal of diversity in geography, scale, culture and economies. Therefore, any Discriminatory statutory and institution engaging in the region would need to take customary laws into account the specifics of the particular country’s situation. In developing countries, statutory and customary laws continue to restrict women’s access to land A research study by Women’s World Banking (2015) and other assets and, in some cases, may explicitly on financial inclusion for women focused on Papua inhibit women’s access to commercial credit. (DFID, New Guinea and Samoa, two very disparate countries. GIZ 2013) Further, women’s control over household Papua New Guinea is the largest country in the Pacific economic resources may also be limited. In nearly a by both size and population, with a relatively well- third of developing countries, laws do not guarantee developed financial services sector. Samoa is a mid- the same inheritance rights for women and men, and sized Pacific country with a rather nascent and limited in an additional half of countries, discriminatory financial services sector. The countries are separated customary practices against women are prevalent. by different ethnicities, language, gender norms and Moreover, about one in three married women from cultural traditions. However, gender-based violence developing regions have no control over household is a particular problem in both countries. spending on major purchases, and about one in 10 married women are not consulted as to how their own The study found that there are barriers that arise cash earnings are spent (United Nations 2015b). from traditional and contemporary cultural and other socio-economic characteristics, as well as those that result from each woman’s personal circumstances. 8. The research covered only Papua New Guinea and Samoa, and is not intended to be a comprehensive survey of the Pacific region. 9. Agreed in Mexico in 2011 by the Alliance for Financial Inclusion members (central banks and financial regulators from across the developing world), it is a set of global and measurable commitments to unlock human potential by enabling access to financial services. 4 Research and Literature Review of Challenges to Women Accessing Digital Financial Services Some aspects of women’s personal experiences can Papua New Guinea. Thus, the majority of women are be common, but may not be applicable to all women. employed in the informal sector. In Samoa, despite These barriers prevent or limit the ability of women higher levels of education for women, they still tend to grow businesses, control their financial resources to have small-scale, home-based work in the fish and access financial services. marketing, handicrafts, retail and tourism sectors. Traditional gender roles and cultural • In both Papua New Guinea and Samoa, there are obligations limited economic opportunities for village women and difficulties finding markets. Women are believed to be subordinate to men, resulting in systematic violations of women’s rights • The women in the study also noted that there was a and violence against women. The legal framework lack of business skills and in Samoa in particular, a does not adequately protect their interests, particularly lack of an entrepreneurial culture. in relation to property rights, domestic violence and employment. Women are not empowered to be vocal, • Another restricting factor for women’s economic and are less likely to participate in public meetings or activity is a lack of business capital. to put forward their views. In this context, they have • In some areas (specifically reported in Papua also less access to information and are more likely New Guinea), there is a fear of sorcery which can to be illiterate. The following sections highlight the impact economic activity. socio-economic situation for women in Papua New Guinea and Samoa (see Appendices for further detail). • Samoa is also one of the most remittance- dependent countries in the world, comprising Education and literacy 17.6 percent of GDP in 201411. Therefore, there is In Papua New Guinea’s secondary schools, tertiary limited incentive for economic independence. education and training institutions, there is a • Also, in Samoa, there is also a preference toward persistent enrolment gap in the percentage of girls high levels of discretionary spending rather than and boys of eligible age. Concern for girls’ safety is a investment or saving. significant barrier to their school attendance, and this becomes most acute as the girls reach adolescence. A nationwide survey found that only 57 percent of Gender-based violence women reported they could read and write, compared A study conducted in Papua New Guinea found that with 69 percent of men. There are consistent rural- 67 percent of interviewed women had experienced urban gaps, with urban respondents 30 percent more domestic violence. Economic dependence on a likely to report being literate than rural respondents male breadwinner makes it difficult for a woman (Asian Development Bank and others 2012). In experiencing violence to report the abuse or leave Samoa, however, girls exceed boys in participation in her husband (UN Women 2010). Therefore, financial school at both the primary and secondary levels, and inclusion for women will not only benefit their they have a slightly higher percentage of literacy for economic potential, it will also positively impact the 15-24 age group.10 women’s health and safety. Marital conflict and domestic violence, exacerbated by alcohol abuse, can Work and income generation drive a need for secret savings. challenges The weak law and order environment further Low education and literacy levels tend to limit exacerbates the problem, as does the culture of men’s opportunities and options for work for women in entitlements and privileges over women in Papua 10. http://www.unicef.org/infobycountry/samoa_statistics.html - accessed 12/6/2016. 11. World Bank Databank – personal remittances received as a percentage of GDP, http://data.worldbank.org/indicator/BX.TRF.PWKR.DT.GD.ZS accessed 10/6/2016. II. Introduction and Context 5 New Guinea. The customary bride price can be seen Customary obligations to contribute as a trigger to domestic violence, as it provides men to community, church and family with a feeling of ‘ownership’ — in addition to the financial burden it places on families. Customary obligations greatly impact resource allocation to and control over women who face pressure to contribute their income. In many cases, men request or demand that they hand over their income. 6 Research and Literature Review of Challenges to Women Accessing Digital Financial Services III. Challenges for Women’s Access to Financial Services “Financial services are a core enabler for consumption smoothing, risk mitigation, self-employment, small and medium enterprise (SME) growth, asset accumulation, and wealth creation. Lack of access to financial services reduces women’s ability to climb out of poverty; increases their risk of falling into poverty; contributes to women’s marginalization to the informal sector; and reduces their ability to fully engage in measurable and productive economic activities”12. Global Barriers education when a family has limited resources. There are also economic and social demands placed It is an acknowledged fact that gender-disaggregated on women, spanning from household obligations data regarding penetration rates under financial and to child labor and child marriage. In addition, girls mobile banking programs/services is limited13. As and women are often the victims of gender-based such, the findings of this paper may not be as robust as violence, including female genital cutting/mutilation. possible. However, it is often reported and accepted Inadequate or discriminatory legislation and policies that there is a gender gap for women’s inclusion in often inhibit girls’ equal access to quality education.14 financial services. The gap is estimated at 9 percentage This continues to have a negative impact on their points in developing economies, according to the broader opportunities. Women, on average, are less World Bank’s 2014 Global Findex Database. This is financially literate (Alliance for Financial Inclusion a figure which has remained unchanged since 2011. 2016), and are not familiar with banking and financial terminology. A review of the literature finds the following factors that make it difficult for women around the world Some companies have stepped in to fill the education to access financial services, primarily due to socio- gap. For example, “MoneyMinded is a suite of economic and supply-side issues. financial education resources comprised of eight topics separated into 19 workshops which can Low education and financial literacy be tailored to meet the needs of individuals. The levels program includes activities and guides for facilitators, Women and girls do not typically have equal access workshop summaries and case studies and materials to education. The reasons range from supply-side for participants. Information about payday lending, constraints, such as inadequate sanitation facilities insurance and utility bills is also covered throughout in schools, to negative social norms favoring boys’ the program.”15 12. http://www.cgap.org/topics/women-and-financial-inclusion 13. In the Global System for Mobile Association’s (GSMA) 2014 State of the Industry report, only 23 percent of respondents reported knowing the gender composition of their customer base. 14. http://www.unicef.org/education/bege_70640.html . 15. http://www.anz.com/resources/c/f/cf734262-57a2-4b17-8a6f-d056324b4ec0/moneyminded-report-2014.pdf?MOD=AJPERES. III. Challenges for Women’s Access to Financial Services 7 Poor access to financial information needs, as well as affordable. Often bank charges for and lack of social networks transactions or accounts are prohibitive, and there is a sense that banks ‘eat’ their money. Women may also Strong networks encourage women entrepreneurs be loyal to informal products, for example, Village to take the necessary risks to grow their businesses. Savings and Loan Associations (VSLAs) due to their They provide crucial market information, logistical social dimension, location, trust, and affordability. support, and linkages to suppliers, investors, financing This may hinder women from exploring more formal- and technology. However, research shows that women sector alternatives, even though these may be more often do not have adequate access to networks, as affordable and secure than more traditional/local they are frequently limited by cultural norms that ones. One such example is “Unicredit BulBank, can restrict them from using public transportation or Bulgaria. BulBank has built an all-female salesforce from interacting with men, other than close relatives. for its women SME clients. All relationship managers Thus, they are at a disadvantage in terms of obtaining are trained in psychological and interpersonal skills resources and information needed to succeed (OECD/ to better understand and serve women clients.”17, 18 INFE 2015). In this regard, “Westpac is the first bank in Australia to have a dedicated Women’s Market Time, mobility and decision-making team. The team sits within Westpac’s marketing unit restrictions and is responsible for retaining the existing female client base as well as acquiring new female clients Women tend to play roles both inside and outside using its brand “Ruby.”16 of the home, and this ‘double burden’ makes more claims on their time than for men. Added to this, Confidence in services that are geographical distance to markets and financial appropriate and affordable services, particularly in rural areas, is a challenge for women in terms of both time and security. Traditional Research shows that women are slower to take gender norms can also make mobility a challenge for advantage of financial services. They are more women who may be expected to remain within or conservative and risk-averse than men, particularly close to the home Therefore, their movement outside if they have a major responsibility in managing the is limited and often dependent upon their husband’s household economy. They need to feel confident approval. This can have implications for their and secure in selecting a product or service. As ability to earn an income and access microfinance many bank officials are often men, women may feel or other financial services. Bank opening hours can uncomfortable in interacting with them. Indeed, also be problematic for women, as many banks are women have reported that service delivery can be often only open when women are carrying out their patronizing toward them (Silverstein and others economic activities. Intra-household decisions are 2009). often male-dominated, lessening a woman’s ability to independently utilize financial services. Women need to be sure that the services and products are actually what they require. Often there is a ‘one In this regard, an Indian microfinance institution, size fits all’ mentality, whereas women have unique Grameen Koota, in partnership with mCheck, piloted life-cycle needs. They tend to have a high number mobile money services with features such as multiple of small, regular transactions such as shopping, account balances and personal identification number receiving remittances, paying school fees and bills. (PIN) codes that allow women to hide their overall Therefore, products must be appropriate to their 16. http://www.womensworldbanking.org/wp-content/uploads/2014/11/Global-Best-Practices-Banking-Women-Led-SMEs- WomensWorldBanking.pdf 17. http://www.womensworldbanking.org/wp-content/uploads/2014/11/Global-Best-Practices-Banking-Women-Led-SMEs- WomensWorldBanking.pdf 18. Cultural context must be taken into account when deciding if women or men should be the provider of the services. At AMRET in Cambodia (see the Case Studies in this report), all of the mobile tellers are male for security reasons. However, this has not held women back from taking advantage of banking services. 8 Research and Literature Review of Challenges to Women Accessing Digital Financial Services balance value, highlighting the benefits women see in maintaining privacy by holding their funds in a Women’s World Banking (2015) qualitative mobile phone (OECD/INFE 2015). research found that across cultures, women have distinct preferences for financial services Legal and regulatory barriers that provide for the following: There are some countries that maintain statutory • Convenience: the ability to make small, formal laws, which may explicitly prohibit women’s frequent deposits without taking time away access to commercial credit. Also, customary laws from their domestic responsibilities or from may undermine incentives to invest. Even where this running their businesses. is not the case, women often lack or cannot access the necessary documentation to open an account. • Reliability: reliable financial tools that allow For example, they may not hold a driver’s license, or them to access their money quickly. they may not be registered as the homeowner or bill payer. According to World Bank research, in 2014, • Security: knowledge that their money is safe. 2 billion people worldwide did not have any formal • Confidentiality: control over how they identification document. A disproportionate number manage their money, without inquiries or of them were women. Discriminatory laws, such as demands from husbands, in-laws, and/or inheritance, may be biased toward men — thereby other family and friends. prohibiting the ability of women to own land that could be used for collateral. Changing laws can make a difference. For instance, Technology can be used to allow for banks to adhere by changing the marital and succession law, Rwanda to these preferences. For instance, Al Majmoua granted women property rights, including the right to (Lebanon) created the free Bitakati loyalty card with inherit land from their parents. As a result, women are which its clients can receive discount rates with certain more likely to own property and use it as collateral vendors. The goal of the card was to attract and retain for a loan than in neighboring countries. (Making women borrowers and give Al Majmoua an edge in Finance Work for Africa 2012). a competitive market. Many of the vendors actually became clients who then promoted the product. This, To counter women’s collateral problem, Nigeria’s in turn, helped Al Majmoua with client growth and Access Bank explored jewelry and household retention.19 equipment as collateral options for women-owned businesses (Making Finance Work for Africa 2012). Another example concerns NBS Bank “Pafupi” in Similarly, banks in Sri Lanka commonly accept gold Malawi. Informed by market research findings and jewelry as collateral for loans (IFC 2011). conducted in collaboration with Women’s World Banking, visuals and local language (Chichewa) were Gender bias with regard to targeting of key elements of the communications campaign for customers the “Pafupi” agency savings account. NBS deployed In the past, the financial services industry targeted sales staff to meet women where they live and women by advertising products in women’s magazines work. Marketing materials were designed to convey in developed countries, and providing microcredit information simply and directly, with a respectful, at lower interest rates for those with no previous inviting tone. The emotional appeal was centered on credit history. However, the design and marketing providing “peace of mind,” highlighting proximity, of digital applications have been usu­ally focused on affordability, and the notion that no amount is too men sending money and women receiving money. small to save. (Women’s World Banking 2015) Very few mobile operators targeted female business owners or workers (Scharwatt and others 2014). 19. https://www.womensworldbanking.org/wp-content/uploads/2015/03/8-Tips-for-Successfully-Marketing-to-Women.pdf III. Challenges for Women’s Access to Financial Services 9 Lack of access to a mobile phone 4. There is no data to build a business case. Although or subscriber identity module (SIM); data are not always accurate or complete, there women slower to have access to and are pragmatic solutions to determine the female adopt technology than men clientele client surveys, gender determination by name or ID type, relationship manager knowledge Today, more than 3 billion people in low- and and so on). middle-income countries do not own mobile phones, and most of them — 1.7 billion — are estimated In addition to the myths listed, the report also to be women. Indeed, women own and use mobile highlighted the internal challenges for banks. There phones at lower rates than men due to barriers, such is little understanding at all staff levels as to how a as cost, network quality and coverage, security and woman is likely to respond to the offers being made harassment, agent and operator trust, and technical and why. Building marketing materials, product literacy and confidence. (Altai Consulting 2015). selling techniques and training staff on how to (See section on How Digital Financial Services differentiate the needs of women from men can [both technological design and banker sensitivity] provide new pathways to women. Overcome the Challenges for Women). Lack of understanding about women in Barriers in the Pacific the financial industry According to the Women’s World Banking (2013) research, women in Papua New Guinea and Samoa The Global Banking Alliance for Women (2014) considering accessing financial services are faced report20 entitled “How Banks can Profit from the with many barriers (see Appendix for further detail Multi-Trillion Dollar Female Economy” interviewed and quotes from respondents in the study). While 30 Chief Executive Officers (CEOs) and senior most of the barriers are unique to the Pacific, there bankers from institutions that account for about are some similarities to other geographical regions. 20 percent of global banking revenue. This report outlined four myths about women that the financial • High cost, limited access and complexity in services industry still believes: formal banking – The women in Papua New Guinea’s Women’s World Banking (2013) study 1. Men and women are the same. Evidence shows that cited the very high costs of banking, the difficulties women are more cautious, like to build long-term in opening an account, and/or meeting loan relationships, and take longer to make decisions. requirements. 2. We just need to feminize the existing products. • Nascent and limited financial services sector – Research has shown that women place value on in Samoa, there are few options for formal banking the services linked to the product, for example, and products for women. networking opportunities and education. • Informal banking comes at a high cost – In Papua 3. There is no business case in women markets. New Guinea, interest rates can be 40-50 percent, Although women are still under-served, there and in Samoa 20-30 percent — per fortnight. In is proof that women have lower churn rates (see Samoa, informal banking is not commonly used. Myth 1), and have a lower non-performing loan In Papua New Guinea, the women noted the risks, (NPL) rate than men. Also, as women are more particularly around violence that could occur risk adverse, one bank has shown that the profit over repayment problems, as well as the potential margin on SME loans to women is 15 percent breakdown of the Rotating Savings and Credit higher. Associations21 (ROSCAs) if a member defaulted. 20. http://www.gbaforwomen.org/download/how-banks-can-profit-from-the-multi-trillion-dollar-female-economy/ 21. https://en.wikipedia.org/wiki/Rotating_savings_and_credit_association 10 Research and Literature Review of Challenges to Women Accessing Digital Financial Services • Low financial literacy, awareness of banking • Women face challenges to save due to pressure choices and how to manage a loan – In both to share their financial resources – Women countries, women have little ability to analyze the reported having to keep secret savings that their information and make informed choices — even if family members did not know about. This was most they do a comparison of options. They also have commonly for goals which their family members limited capacity to make a savings plan, or to did not necessarily share, or for emergencies. carefully consider how they would use and repay a Such pressures have also included using borrowed loan. money for business to be diverted to meet personal obligations to the Church and the family (Hedditch • Little emphasis on savings – Samoan financial and others 2010). institutions have an insufficient emphasis on savings. Women mainly save at home and in secret, and most savings are small amounts for emergencies, and less so for business purposes. This is often due to the many financial pressures on any income earned. III. Challenges for Women’s Access to Financial Services 11 IV. Women and Technology: Do Women Face Specific Challenges in Accessing and Using Technology? According to the Groupe Spéciale Mobile Association also listed spam as a reason for not owning a mobile (GSMA) report Bridging the Gender Gap (2015), on phone. mobile access and usage, there is still a 14 percent gender gap in mobile phone ownership. The top Many countries are now introducing apps or SMS- reasons for lack of ownership and usage for women based services that allow for the blocking of callers, include the following: as well as the means to report harassment.23 Cost (handset and credit) Operator/agent trust Women are sensitive to prices. With a number of Linked closely with network coverage challenges, competing demands and little money, women need women have cited trust in the Mobile Network to make choices. Women have cited both the cost of Operator (MNO) as a barrier to ownership. This could handsets and usage as barriers. Mobile operators need be attributed to factors such as transparency in pricing to review their plans if they wish to increase usage. plans, expiration of credit, and forced usage due to Offering low-cost phones with off-peak usage or a lack of competition (particularly in rural areas). family and friends package may help women acquire mobile phones.22 Technical literacy and confidence In the GSMA report (2015), women cited technical Network quality and coverage literacy and confidence as barriers. Also, they were Even with the rapid growth of the mobile sector, more likely to need assistance to use the features of there are still locations that are not covered, or poorly the phone. covered, by cellular services. Though seen as mainly For instance, research by the Grameen Foundation a rural problem, many urban respondents in the in India shows that multi-step mobile phone menus GSMA report also expressed difficulties connecting, and the use of unfamiliar syntax are confusing for likely due to congestion in the network. rural women. For example, women in the study were pressing ‘*’ instead of ‘#’ as they could not differentiate Security and harassment between them. Also, they were not able to correlate ‘answer’, ‘send’, and ‘back’ with the associated soft Women expressed concerns related to theft, as well key on their handset, and then press the call connect as issues with strangers making harassing calls. They button below it (Grameen Foundation 2014). 22. GSMA 2015, see Smart Philippines Case Study on p 47. 23. GSMA 2015, see case study on p. 52 regarding services to prevent harassment and sending emergency alerts. IV. Women and Technology: Do Women Face Specific Challenges in Accessing and Using Technology? 13 In addition to these barriers, many women are still not • Network Quality – It is very important to ensure able to access or own a mobile phone due to social that the DFS can ‘run’ on the technology. Is there or cultural constraints. These societal norms can be even coverage in the customer’s location? For DFS addressed through the employment of female agents providers, it is important to clearly understand the and the provision of local, or even door-to-door, limitations of the cellular network when designing services. an offering. This includes the length of transaction time, technology used, devices, and so on. Although there are challenges that need to be overcome, it should be noted that the mobile phone is • Security and Harassment – Women have remains a tool that has, or is perceived to have, real said that they feel safer with a mobile phone. value for women to overcome some of the barriers to Getting handsets into their hands will help finance (GSMA 2015) including: women to overcome this challenge. At Etisalat in Afghanistan, for instance, it was found that female • Poor access to information and lack of social customers would not answer the phone when networks. At least 89 percent of respondents in the MNO called. Women do not answer calls of every country said mobile phones help them (or people whose numbers they do not know. Etisalat would help them) stay in touch with friends and then decided to send a text message before the family. call advising that they would be calling. This has • Time, mobility and decision-making restrictions. helped increase the contact rate and ensure that the At least 74 percent of respondents in every country customer does not feel harassed. said that having a phone saves time (or would save • Operator/Agent Trust – Women need to trust the them time). At least 60 percent of women in 10 out people with whom they are banking. The agent of 11 countries said mobile phone ownership saves is an extension of the banking brand. Ensuring (or would save) them money. At least 60 percent that the agents are trusted in their communities of women in every country claimed that a mobile (particularly by women) is important. A provider phone helps (or would help) make running errands of DFS may be well placed to work with the either more convenient or less expensive. local women’s groups and ask them to nominate • Confidence in services that are appropriate and the agent, thereby ensuring that trust is already affordable. At least 68 percent in every country established. reported that they feel safer (or would feel safer) • Technical literacy and confidence – Women with a mobile phone. want to have and use a phone. The desire exists, • Gender bias and targeting of customers. At least but the knowledge may not. Working with women 58 percent of respondents in every country said is easy, as they share information and knowledge. they felt more (or would feel more) autonomous Running fun programs like ‘phone display’ bingo and independent. may help women learn to use their handsets better. It is also important to ensure that the product uses These challenges are surmountable with a well- language that customers understand. planned and thought-out service. Such solutions could include the following: Mobile Access and Usage — • Cost – Providers of DFS could provide time-based Papua New Guinea payment plans on handsets and/or provide ‘free’ air The GSMA (2014) Connected Women report on time credit for usage. There is also an opportunity “Striving and Surviving in Papua New Guinea: to work with the local MNO or handset-makers Exploring the Lives of Women at the Base of the to develop a low-cost, branded model that can be Pyramid” provides an in-depth look at the status of provided to users of mobile financial services. low-income women and mobile usage in both urban and rural areas of Papua New Guinea. 14 Research and Literature Review of Challenges to Women Accessing Digital Financial Services Research shows that 42 percent of women between • With only 16 percent owning a mobile phone the ages of 16 and 21 prioritize having a bank account, and 39 percent having access to a mobile phone, and 31 percent prioritize the ownership of mobile 45 percent of women are ready to adopt the phones. With more than 87 percent of this same age technology, thereby enabling them to save without group wishing to have better housing, the link to goal- social pressures. based savings through mobile banking can be drawn. • Fifty-nine percent of surveyed women attend a There are definitely challenges to reaching women women’s group at least once a week (providing in the Papua New Guinea market. The country has women a safe environment where they can build 800 languages, varying social norms, with 80 percent skills); such group meetings can be a medium to of people living in rural areas. There is also a lack overcome technical deficiencies. of basic infrastructure, such as electricity, water, and sanitation. With regard to direct challenges to mobile • Female friends are cited as the primary sources ownership, 96 percent of respondents cited the cost of of information about pregnancy, healthcare, and handsets and credit as being too high, and 22 percent money management (and secondary sources for of women who have a mobile phone said that it makes business advice); likewise, the mobile phone can their husbands suspicious. become a source of information, including for gender-based violence, for example.24 However, the opportunities do exist. With a market that is currently undersupplied with both technology It is important to note that the technology and the and value-added service such as DFS — as well as a ability to use it is one part of the full product and high number of women attending targetable meetings service offering that needs to be considered when at least once a week — the market is easily reachable. delivering high-quality DFS to women. 24. For further information about digital coverage and its impact on the economies in the Pacific region, please refer to: http://gsmamobileeconomy.com/pacificislands/ IV. Women and Technology: Do Women Face Specific Challenges in Accessing and Using Technology? 15 V. HOW CAN DIGITAL FINANCIAL SERVICES BE USED TO OVERCOME THE CHALLENGES FACED BY WOMEN? To reach scale and impact in their operations, mobile money operators cannot ignore women, who make up half of the potential customer base. However, penetration of services within this group remains low and there are many barriers that keep women from adopting and using these services, such as low levels of literacy and mobile phone ownership. Operators can use a number of tactics to overcome these gender-specific barriers, particularly changing their approaches to marketing and distribution. This includes product offerings tailored to the unique financial needs of women; updated marketing campaigns that women can relate to; and hiring quality female agents who help to build women’s confidence and trust in mobile money services and turn them into loyal customers. (GSMA 2014) This section, provides a more in-depth look at the in the Women’s World Banking report on Global Best challenges women face with regard to the provision of Practices (2014), there are changes that can be made Digital Financial Service. It also introduces (through to the existing models that provide for more inclusive case studies) some information about providers trying environments. The following notions can be applied to overcome these challenges in their own ways, using to both branch and DFS-related engagements: mobile technology and addressing broader sensitivity issues (for example, less patronizing staff). • Know your Customer. In normal bank jargon, this means fulfilling documentation needs for account To providers of financial services, DFS can look like opening. However, it also involves spending more ‘just another channel’, and it is sometimes treated time to understand current data (both internal and internally as such. However, as DFS is targeted to external) and reviewing the real constraints placed clients that have traditionally been unserved or under- on women in the community, for example, social served by the formal financial sector, this is their first norms, daily lives, and literacy levels. In doing so, introduction to formal financial services. They will institutions can better understand the needs of 50 need to develop an understanding of the technology, percent of their available markets. how a bank account works, how to transact, build trust, and see the value of the offering. It is important • Product Design. Women face myriad challenges to ensure that it is the view of the customer that drives in their daily lives and are looking for products the development, sales and marketing of DFS. This is that help them to solve one or more of their needs. even more important when the customer is a woman. For instance, packaging easy payments with a transaction account and a separate savings account allows women to pay school fees and save at the Banks do not want me as a customer same time. As noted, banks can be intimidating, as well as • Internal Capacity. Women tend to engage socially difficult environments for women. Perhaps differently than men in the market place. They unwittingly, many banks have built products and are not necessarily more difficult, just different. environments that exclude women. As shown though V. How digital financial services can be used to overcome the challenges faced by women? 17 The product design is important, but so is how it Studies show that using female agents (GSMA 2014, is sold. Women tend to ask many more questions 8) drives the usage of both women and men, and up front about how the product works. While this can help to build trust in the network. Many women may prove frustrating, it could be addressed by are already members of women-only groups, which creating clearer marketing materials or multimedia can be leveraged to find both agents and customers. approaches. Women are also less likely to be Tapping into such networks builds on the trust that literate or numerate. Women still make purchases, has already been established.25 but they will probably need more face-to-face engagement, including more tolerant and patient In the Democratic Republic of Congo (DRC), women staff. In addition to these more across-the-board must have their husband’s permission to open a concerns, women tend to prefer to deal with other bank account, or even accept a job. The outcome of women. Institutions need to ensure that there are the recent civil war and the outflow of many males enough women to serve women clientele.(GSMA as migrant workers has led to about 25 percent of 2014, 8) households being, de facto, led by women. Where can I access my account? However, a study about agents by the Foundation for International Community Assistance (FINCA) As noted, many women are restricted in their ability (FINCA 2016) noted the following: The key finding to travel due to home-based requirements, social of the study is (when controlling for external factors constructs, distance, and/or financial cost. The in the regression analysis) that — as agents — women provision of DFS in these environments allows for do a better, more efficient job compared to men. Not a transaction point to either be in their hand or close only do female agents transfer higher volumes per at hand. There are models that actually have the FINCA transaction, they also, on average, report 12 agent transacting directly at the front door (GSMA percent more FINCA transactions per month than 2014, 7-8). Additionally, local transaction points can male agents. provide financial literacy and sell new products. The case studies on Diamond Bank Nigeria and AMRET The Partnership for Financial Inclusion – Cambodia (see Appendices) provide information Women Make the Best DFS Agents on how the provision of local DFS centres has For more information about how financial sector enabled women to securely save and make financial alternative delivery channels create business transactions. opportunities for women in emerging markets, see Who will help me if I get it wrong? the case studies on Fidelity Bank Ghana and Zoona Zambia. Women look to other women for information about healthcare, children’s education and money How do I use the service? management (GSMA 2014). Additionally, in some As noted, women in developing countries are less societies, women are restricted in their ability to likely to be educated and therefore more likely to interact with men (GSMA 2014, 8). The provision of a be both illiterate and innumerate. This means that women’s agent network to provide both transactional traditional marketing models do not work with this and educational support meets the needs of women. group, particularly standard booklets and leaflets.26 Although a service may be conveniently located, if This has also made it difficult to build a business case it is run by a man, or is heavily frequented by men, around this market group because it is perceived as it may be a place that a woman is not likely to feel too hard to reach. Studies have shown (Melnyk and comfortable, for example, liquor stores, male-targeted others 2009) that when women build trust in the cafes, and sports clubs. 25. http://www.cgap.org/blog/achieving-financial-access-through-village-banking-and-data Although this source does not directly reference women, most VSLA’s are predominately women and are managed by women. 26. http://www.gsma.com/mobilefordevelopment/wp-content/uploads/2016/02/GSM0001_03232015_GSMAReport_NEWGRAYS- Web.pdf. See page 57 for case studies in India and Papua New Guinea of innovative technical literacy programs. 18 Research and Literature Review of Challenges to Women Accessing Digital Financial Services individual providing the service (that is, the agent), • Using automated voice calls to clients to provide they stay loyal and value the offering. incentives, including reminders about goal targets, congratulations on meeting self-set targets, In most of the case studies in the Appendices of birthday wishes, and so on. this report, the DFS providers needed to undertake a more intensive, face-to-face training program to reach women. For example, as part of their role in Is it safe to use? delivering the Benazir Income Support Programme The security of the product can be broken down into (BISP) payments, EasyPaisa of Pakistan has built 36 three key challenges for customers: permanent camps at which customers verify details, receive their cards, and receive training on how to 1. What happens if I make a mistake? use their cards by EasyPaisa agents and at ATMs. 2. What if my phone is stolen? These camps service 1.6 million women and are intended to be no further than 5 kilometers travel for 3. How do I keep my data and transactions private? any customer. Though these camps are still critical in helping wth new registrations, lost cards, forgotten Although more women own handsets, many still do PIN, and so on, usage and trust in the EasyPaisa not know how to use all the functionality they offer system is now inherent in local recipients through the (Grameen Foundation 2014). For low-income people sharing of knowledge. who are very protective of their money, the idea of making a mistake on your phone and losing your Like any new product or service, it needs to be made money is a very real concern (McKee and others accessible conceptually and operationally27. To drive 2015). It is important to build the DFS functionality usage change, management needs to be incorporated around existing local phone use behaviors (such as into the delivery model. An adequate time period for flash dialling29) and local terminology for easier change also needs to be taken into account. uptake. It is also beneficial to be aware of jargon. Although such terms as ‘balance’ may be understood Some models of marketing activities that can be done within the DFS provider, it may not be understood with illiterate and innumerate women include the in the target market. Women may prefer the use of following: alternative words or to coin a new term (for example, • Making use of the existing groups that women left-over, still have, rest). belong to church groups, school groups, farming Many people find it challenging to understand how collectives, handiwork groups, savings groups, losing their mobile phone or PIN does not mean that and so on.28 they will lose all of their money. Many women do • Building on things that are fun and already a part not have sole use of a phone and are also not always of women’s lives. This could include the use of in a position where they can keep information secret soap operas, songs, games, competitions, and so from family members, particularly husbands. The use on, that can help women engage and retain the of customer care touch points is very important to information provided. Leveraging the transactional alleviate fears for customers, but it should be easily network (for example, through agents, particularly accessible (possibly toll-free). Due to low levels female agents) to deliver the required literacy and of technical literacy, care needs to be taken when numeracy. working with this group. Building training that is based on alternative, real-life behaviors may also help. 27. Lichtenstein and others, 2006. http://www.jecr.org/sites/default/files/07_2_p01.pdf. This report from 2006 provides insight into the consumer adoption of internet banking (p 53). Though targeted at developed countries with educated populaces, the same challenges were experienced, for example, trust in the Internet, technical self-sufficiency, and not seeing the need for change. 28. http://www.impatientoptimists.org/Posts/2015/09/Warning-Mobile-Money-May-Have-Powerful-Sideeffects#.V1kttfl9600. This blog discusses the value of the training group, and how it goes beyond learning how to use mobile money. 29. https://en.wikipedia.org/wiki/Missed_call V. How Can Digital Financial Services Be Used to Overcome the Challenges Faced by Women? 19 There are multiple demands on a woman and the To withdraw money, three different people must resources she has. To build her savings, she must first enter their PINs (replicating the three locks on the get the money past the people placing the demands — old strong box) before withdrawals can be done. This children, husbands, extended family and community model could be adapted to provide extra protection to groups. Learning to say no is difficult. Australia and women because potential abusers would need to hold New Zealand (ANZ) Banking Group has launched power over more than one person to withdraw cash. a financial literacy program, tailored to the Pacific region that includes a section on assertiveness. DFS provides a woman a safe space to store her According to the Solomon Islands Impact Report,30 money. At the same time, concerns for women need the respondents reported an increase in confidence in to be properly and empathetically addressed to ensure their ability to say no from 20 to 77 percent after the trust and understanding have been created. training. Stella Dube, a 45-year-old mother of five runs a Adeline Sibanda from United Nations Women says number of flea markets in Bulawayo, Zimbabwe’s economic empowerment in women drastically second largest city, and her story bears testimony to reduces cases of gender-based violence in any this. community. “I used to suffer all kinds of physical and mental “It is important for women’s confidence and abuse from my husband back in the day when all self-esteem to be raised so the women are able I did was look up to him to provide for all the to demand and advocate for space in the key financial needs in the home. He would beat me up sectors of the economy. Gender- based violence in private, in public and in front of our children against women in most families is a result of over and would sometimes disappear for weeks on end, dependence on men. If women can be empowered leaving us with no money for food,” says Dube. economically and are earning, they will not be “It was then I realized that I needed to act, violated,” Sibanda says. (Lauler 2015) otherwise my children would die from hunger. Although ending violence against women is not the I borrowed money from friends and family and goal of DFS, women’s financial independence can ventured into cross-border trading, where I’d buy contribute to this goal by providing women with a stuff from South Africa or Botswana to sell here. safe place to store and use their money away from It was difficult and took me a long time to become prying eyes, as well as helping her build her own stable, but with perseverance and some luck my financial resources. Care needs to be taken to ensure business grew, and today I own five stands here that women’s financial behaviour is protected. Banks and employ several people. and agents need to be aware that keeping financial “When I started making enough to pay for the behaviours private is critical and cannot be shared children’s school fees, clothe and feed them, as with anybody. Appropriate penalties need to be put if by magic, the abuse from my husband abruptly into place to ensure that women’s privacy is enforced stopped. It was as if he had gained some new- and protected. found respect for me and started treating me as The use of receipts (SMS or paper) also needs to be his equal. He has not raised his fist to me in seven reviewed. Short-term solutions, such as Snapchat years, and I think he fears that if he does it again I or receipts going to a second, trusted number, may am empowered enough to leave him and start a life provide the privacy many women need. In Uganda, for myself — or worse report him to the police.” Airtel worked with the Grameen Foundation to design a digital solution for Women’s Savings Groups31. 30. https://www.anz.com/resources/4/2/42e374ba-9ec7-401b-b029-02374fc7cfad/MM-Sol-Is-Impact-2013.pdf?MOD=AJPERES See Section 4.7 31. http://www.grameenfoundation.org/press-releases/airtel-uganda-grameen-foundation-and-plan-uganda-introduce-new-group- savings-produc-2 20 Research and Literature Review of Challenges to Women Accessing Digital Financial Services Can I use it for my little bit of money? and this will create reputational risk. Worse still, the customer may leave their phone, PIN, and cash Quite often people living in or on the edges of poverty behind with the agent to transact when the system is wish to save, but only have very small amounts of functioning again. There have been notable situations money to save. Digital provides a model to do this of this occurring, and agents not performing the — without the cost of travel to branches or the fees transactions as agreed. charged by banks. Additionally, many self-employed people do not receive a regular, set income. They Lack of appropriate network coverage receive some money most days. This means they need (McKee and others 2015) to be able to allocate some of that money to savings and store it most days. Physically going to a branch In order to conduct transactions with an agent, there does not meet this need. has to be consistent network coverage. This means working closely with the MNOs in the country to These savings may be used for many different ensure there is adequate coverage. If areas only purposes. A woman may save for business investment, receive 2G coverage, then a system must be able to to put her child through school, to be prepared for run smoothly and efficiently on this bandwidth. There a family event (such as birth, death or injury) or for also needs to be enough band-width to meet potential her own personal purchases. To meet the needs of a customer demand. Building a close relationship with high-transacting customer with limited resources, it the MNO or the network management team is critical. is important that any fees associated with the account are fair and reasonable (to the customer). Globally, DFS System outages there is a tendency away from set monthly fees and (McKee and others 2015) limited free transactions. For a financial institution, This is very closely linked with the previous items. the business case for DFS to low-income customers If a system is not stable or is experiencing outages, is usually based on deposit gathering and customer customers will quickly lose faith in the product/ growth. See the BETA Diamond Bank Nigeria and service. Although targeted to low-income people AMRET Cambodia case studies. and with very small margins, DFS is still a financial Will I always be able to access my service. As such, it needs to meet the same reliability money? requirements of an ATM or branch-based platform. Customers with limited resources will only use a Agent Liquidity (McKee and others 2015) service if they know they can access it easily. Detailed It is common occurrence for agents not to have here are some to the key system access issues that sufficient liquidity to service all customers. Instead of are experienced by clients, particularly in rural areas. stating this clearly to customers, though, many agents When customers cannot access their funds, but will simply say that the ‘system is down’ — putting they know their funds are there, they are not able to blame on the Functional Service Provider (FSP). distinguish if it is a network fault, system fault, agent This causes reputational damage and may result in fault, or their own fault. The first likely source to customers no longer using the service as a place of blame will be associated with the owner of the DFS, storage or a way to remit/receive funds. V. How Can Digital Financial Services Be Used to Overcome the Challenges Faced by Women? 21 VI. Conclusion In today’s world, women make up a growing While women generally to adopt new technology percentage of income generators. However, most are more slowly, they will ultimately adopt it in greater not able to fully participate in the financial sector due numbers. Women are usually more conservative and to many factors. Digital financial services can be an risk-averse than men, particularly if they have a major effective channel through which women can access responsibility in managing the household economy. reliable solutions to their financial issues. These solutions reverberate far beyond the financial sector, In conclusion, key recommendations to reaching and deep into the health and safety of women and women through digital financial services include the their families. following: Financial services need to be tailored to women’s • Develop messages that are consistent with the specific needs. Since many women deal with small demographics of women, specifically those living amounts of money, services must be inexpensive. in metropolitan versus rural areas; Services must provide channels for convenient • Staff and merchants need to be educated further to spending and saving. Due to women’s burdens in promote the product to women; the home, services must also be easily accessible. Importantly, women also need privacy when it comes • Emphasize that banking via the mobile phone will to their banking needs. enable a greater sense of financial control as they bank, shop, pay, save and pay for utilities; DFS are critically important for women whose needs are not as well met by traditional banks in the • Design mobile banking communication programs, formal sector. Women in developing countries are including roving staff, that emphasize that phones more likely to be illiterate and innumerate. They also are the pre-requisite for banking, followed by face challenges dealing with the male-centric world branches. of banking. The advantage of DFS is that it can be tailored to the needs of women, with increased focus on privacy, reliability, trust and education. VI. Conclusion 23 These findings are in line with research developed by the Global Banking Alliance for Women (see Box below): Global Banking Alliance for Women: Research The Global Banking Alliance for Women issued a report entitled ”How Banks can Profit from the Multi- Trillion Dollar Female Economy.” The GBA interviewed 30 CEOs/senior bankers from institutions that account for about 20 percent of global banking revenue. This report highlights four myths about women prevalent in the financial services industry: 1. Men and women are the same. Evidence shows that women are more cautious, like to build long-term relationships, and take longer to make decisions. 2. We just need to feminize the existing products. Research has shown that women place a value on the services linked to the product, for example, networking opportunities and education. 3. There is no business case for female markets. Although women are still under-served, there is proof that women have lower churn rates (see Myth 1). Also, the trend is toward a lower non-performing loan rate among women. Additionally, because women are more risk averse, one bank has shown that the profit margin on small and medium enterprise (SME) loans to women is 15 percent. 4. There is no data to build a business case. Though data are not always accurate or complete, there are pragmatic solutions to assess female clientele, for instance, client surveys, gender determination by name or ID type, relationship manager knowledge, and so on. 24 Research and Literature Review of Challenges to Women Accessing Digital Financial Services VII. Appendices 1. Situation for Women in Papua New Guinea and Samoa – Commonalities and Differences PAPUA NEW GUINEA SAMOA Levels of Education and Literacy At the primary school level, the gender gap has According to the most recent statistics in Samoa, narrowed in the last decade or so. However, at girls exceed boys in participation in school at secondary school, tertiary education and training both the primary and secondary levels, and have institutions, there is a persistent enrolment gap in a slightly higher percentage of literacy for the 15- the percentage of girls and boys. Concerns for the 24 age group.32 However, Samoa’s 2006 National safety of girls are a significant barrier to their school Census shows that just under a third of the attendance, and this is most acute as the girls reach economically active population are women, with adolescence. The inability to pay school fees is also most women focusing instead on domestic work a constraint. A nationwide survey found that only (Hedditch and others 2010). 57 percent of women reported they could read and write, compared to 69 percent of men. This suggests a substantially lower rate of literacy among women than men. There are consistent rural-urban gaps, with urban respondents 30 percent more likely to report being literate than rural respondents (Asian Development Bank and others 2012). Options for Work and Income generation. Low education and literacy levels tend to limit Regarding Samoa, estimates are that nearly opportunities and options for work. In Papua New 82 percent of the population participates in the Guinea, enclave developments — which are large- informal sector, with women tending to have small- scale natural resource development projects — are scale, home-based work in the fish marketing, an important part of the economy. They employ handicrafts, retail and tourism sectors. significant numbers of low-income men and women as manual workers. Apart from enclave developments, the majority of the population is employed in the informal sector. 32. http://www.unicef.org/infobycountry/samoa_statistics.html - accessed 12/6/2016 VII. Appendices 25 In both Papua New Guinea and Samoa, there are limited economic opportunities for village women, as well as difficulties finding markets. “I think that roads and transport and finance are “For me, it is not being able to find a market for our difficult. Around Kimbe, there is access to a road, products. We all weave the same thing. Sometimes so they can bring their produce. There are a lot of it is hard for us to find someone to buy them from places where they have good fruits, but they have us.” (Women, Savaii, Samoa) no roads or they just have to walk to travel to get places. They have to carry a heavy load to walk.” (Higher Income, Man, Kimbe, Papua New Guinea). “I sell in my locality because I do not have to pay fees. If I go to the market, then you have to pay a lot of fees.” (Higher Income, Women, Mobile, Kimbe, Papua New Guinea) In addition, women noted that there was a lack of business skills and in Samoa, a lack of an entrepreneurial culture. “They need to give loans to women so they can start “There was a group from the Body Shop. Our businesses. They need training – how to make a center manager told us to select one person from good business plan, how to attract customers, how the training. I learned so many things, how to treat to budget, etc. We have the mentality that women people, customer service, how to get people to are supposed to be in the house. Businesses buy from you. You can also see …if there is profit belong to men – this is the mentality. But you can or no profit. Some do not understand that. They see that women can do this. They need more just spend it on fa’alavelave33. They just then run training.” (Higher Income Woman, Kimbe, Papua around and ask their husbands to pay for the New Guinea) repayment.” (Woman, Upolu, Samoa) A lack of business capital is equally restricting for women who wish to engage in economic activity. “Our problem is that there are lots of ways to “For me as a mother, there are a whole lot of needs earn more money, like a canteen or poultry, but that we need to use the money for. We need to the problem is that you need capital to start it. We rebuild our shower. Also, my children and I have women never get enough money in [our] hands to decided to build a canteen so we can cater for actually do something, we do not control the money, the village community meetings. We could supply the husbands and men control the money. This them with food.” (Woman, Savaii, Samoa) is a big problem for us.” (Lower Income Women, Mobile, Kimbe, Papua New Guinea) 33. Traditional ceremonies where large amounts of money, food and fine mats are accumulated, pooled, exchanged and redistributed between kin-groups to mark funerals, weddings, and title-conferring rituals. 26 Research and Literature Review of Challenges to Women Accessing Digital Financial Services Fear of sorcery can impact economic activity. “My daughter’s husband was a rich man and he had a lot of assets, we were also prosperous because we had a store. They were jealous of us. I think that people used sanguma (like black magic) on us. They were both murdered by sorcery because of the jealousy. This has discouraged me and my husband from running a business again because we do not want jealousy to affect us that way. My last daughter is studying accounting in Lae. We had a business for a long time, but because of those things that happened, we do not want to run our business anymore.” (Higher Income, Woman, Mobile, Kimbe, Papua New Guinea) Remittance dependent Samoa is also thought to be one of the most remittance-dependent countries in the world at 17.6 percent of GDP in 2014.34 Therefore, there is limited incentive to achieve economic independence. “We turn to our families overseas and we ask them for money (laughs!). All of us have family abroad. They say no, but we keep calling until they agree!” (Women, Upolu, Samoa) There is a preference toward high levels of discretionary spending rather than investments or savings “I love bingo! Yes, I am very happy when I play bingo. If the bus comes to take people down there to play bingo, and I miss it then I am very mad!! I do hide some money for my bingo activities! Most of the women that play bingo, they spend around 40 WST. I play smaller money because I don’t play that many papers. It costs 10 WST per paper. I spend around 20 WST because I think that’s about how much I need to spend on my family. I try not to spend so much money on it, but it is very fun and makes me happy to play!” (Woman, Savaii, Samoa). 34. World Bank Databank – personal remittances received percent of GDP http://data.worldbank.org/indicator/BX.TRF.PWKR.DT.GD. ZS accessed 10/6/2016 VII. Appendices 27 Gender-based violence A study conducted in Papua New Guinea found that “There are two aspects of Samoan living. I see 67 percent of women interviewed had experienced women that are not married and women that are domestic violence. Economic dependence on a married. I receive a lot of money and I look at other male breadwinner makes it difficult for a woman couples, they are always fighting over money. I am experiencing violence to report the abuse or happy that I have ownership of my own money, leave her husband (UN Women 2010), thereby but I feel sorry for my sisters that have conflicts highlighting the impact to women’s health and with their husbands over that.” (Divorced Women, safety that financial inclusion might counter. Marital Savaii, Samoa) conflict and domestic violence, exacerbated by alcohol abuse, can drive a need for secret savings – “Women who have drinking husbands do that. They come and beat up their wives for money. When you do something, you have to do it in secret. Papua New Guinean women are strong women. We are good at keeping secrets. Women go and do their marketing. That is theirs. She brings that income and she repays her loan. Her husband does not necessarily know how much she is making at the market. What she gets, it is hers, but when her husband asks, she will give it. She will not tell the whole amount.” (Higher Income, Women, Kimbe, (Papua New Guinea) The weak law and order environment further exacerbates the problem. “The laws against domestic violence are there, but the awareness is lacking. They do not know what they can do. They do not know who they see, or what they can do. I do a lot of counseling. She will be told that if the court charges me, I will kill you. You cannot win. I will give you an example of our daughter. She will come and escape and live with us for one year. Then they will get back in touch on the phone, and he will ask her back and then she will go back for 6 months. She will come back and she will get all bloody and crying. It is not all men here who do this, they are being demonized — though all men do this.” (Higher Income, Man, Kimbe, Papua New Guinea) 28 Research and Literature Review of Challenges to Women Accessing Digital Financial Services Male entitlements and privileges over women and the impact of ‘bride price’ need to be considered. “The women have to ask for money, but (men) ask women about their earnings and some take the money. The men are the bosses. They decide on what is spent or not spent. Men are the head of the family and women follow this.” (Lower Income, Women, Moresby, Papua New Guinea) The customary bride price can be seen as a trigger to domestic violence as it provides men with a feeling of ‘ownership’, as well as placing a financial burden on families. “When you think about bride price, then everyone is contributing here and there. You may not have anything at home, but you have to give.” (Lower Income, Women, Branches, Boera, Papua New Guinea) Customary obligations to contribute to community, church and family greatly impact resource allocation and control. They also impact women who face pressure to contribute their income. In many cases, men request or demand that they hand over their income. “Most of the time, I experience that every time you “It is really hard because there is so many go through social problems, like different Wantoks35 fa’alavelave going on, especially for women. I asking you for money here and there, 100 here and have to make my contributions to the women’s 100 there.” (Higher Income, Man, Kimbe, Papua committees from my account. My husband’s New Guinea) account is for emergencies and school fees. One of my children is schooling at the university in Apia, and it is a very high fee that we have to pay.” (Woman, Savaii, Samoa). “As a Samoan, when you get money, there is already something in mind to pay. For example, if I get my money today, I already have line items that I need to pay, such as food, church contributions, or other things like school fees, electricity, etc. — even before I get my money. If there is anything left, then maybe 10 or 20 WST, I put that into my savings account. I know that if I save money today, then I can go back to it next week.” (Woman, Savaii, Samoa) 35. The ‘Wantok’ system is a social system whereby members of the same ethnic group, family or district assist and depend on one another in social and financial matters. VII. Appendices 29 2. Barriers to Women Accessing Financial Services in Papua New Guinea and Samoa PAPUA NEW GUINEA SAMOA FORMAL BANKING High cost, limited access and complexity – the Nascent and limited financial services sector Women’s World Banking study (2013) noted the – The limited formal banking sector mainly serve very high costs of banking in Papua New Guinea, wage earners, who are primarily male and middle including account maintenance fees, withdrawal or upper class. Most transactions are for salary fees, and interest rates. payments and pensions, against which loans can be taken. There has not been much movement “I have heard that for a loan of 5,000, you have to include non-salaried workers, or the provision to pay back 7,000. That is too high, so we do not of other services. With few private microfinance borrow money. Why would you borrow if you have institutions (MFIs) and only a couple of projects, to pay back that much interest?” (Higher Income there are few options open to women in Samoa. Women, Kimbe, Papua New Guinea) “All of our husbands’ have accounts.” (Women, Women also face difficulties in opening an account Savaii, Samoa) and/or meeting loan requirements. “I do not have a job. Then I do not see the need “I have heard from my friends that getting a loan to hold a bank account.” (Women, Savaii, Samoa) is very difficult. I also believe that it is better to use banks to save and not borrow.” (Higher Income Women, Kimbe, Papua New Guinea) INFORMAL BANKING High costs and risks of informal banking – Limited and fairly high cost of informal banking where interest rates of 40-50 percent per fortnight – Informal borrowing is pre-dominantly from village- are common. based women’s committees (Komiti) that lend informally to members at a rate of 20-30 percent “You have to pay back 30 PGK on 100 for interest. I per fortnight. However, informal lending is not so do market money. That is one of my interests. That common in Samoa. is my business.” (Lower Income Women, Kimbe, Papua New Guinea) “Yes, the women in the committee can lend the money to members. It has to be agreed upon Informal loans can be risky in that it is not amongst all the members. There is an interest. For uncommon for there to be violent clashes over 100 WST, you have to repay 20 WST extra. It is repayment. Also, interest is still charged even usually 50 WST because it is not just me; it is every when loans are between family and friends, as well one that is borrowing. For 50 WST, you have to as with professional moneylenders. repay 20 cents per WST.” (Women, Savaii, Samoa) Q. What happens if you cannot repay? “Summons, from the court. Sometimes they may beat you up or threaten you or someone else.” (Higher Income Women, Kimbe, Papua New Guinea) The informal rotating savings and credit associations (locally called ‘sande groups’) are mainly used for consumption, not business purposes. These are considered high risk because they may break down due a group member defaulting. 30 Research and Literature Review of Challenges to Women Accessing Digital Financial Services “This is very popular amongst women. We take turns and we get money from it. But it has sort of broken down because a lot of women do not put their share. It depends on everyone doing it. Due to the unfaithfulness of some women, the ‘sandes’ do not work.” (Lower Income Women, Kimbe, Papua New Guinea) LOW FINANCIAL LITERACY Low financial literacy and awareness of banking Low financial literacy and awareness, including choices, while rarely comparing choices. a misunderstanding of how to use loans – Even if a comparison of options is made, people People reported difficulty in making a savings have little ability to analyze the information and plan, and did not consistently appear to plan how make informed choices. They also have limited they would use and repay loans. Despite training capacity to make a savings plan, or carefully from microfinance institutions, some had limited consider how they would use a loan. They have understanding of interest rates and the total limited understanding of interest rates and the total amount that they would have to repay. amount that they would have to repay. Q. What is the interest rate on that loan? Q. Does anyone have an idea of the requirements? “I borrowed 1,000 WST, but I didn’t get the full “No idea. We struggle to know what the bank loans amount. I had to pay 1,270 altogether.” are, what the interest is. We have to find a way to get more information from them about the loans.” Q. Was that a surprise to you? (Lower Income Women, Kimbe, Papua New “Yes, it came as a surprise to me. I originally Guinea) thought that for a 1,000 WST loan, I would just have to repay 1,000. But afterwards, I went to the SPBD training after and they told me….” (Woman, Q. So banks are very expensive? Savaii, Samoa) “Yes, but we do not know how much it is. We have no idea.” (Lower Income Women, Kimbe, Papua New Guinea) LITTLE EMPHASIS ON SAVINGS Samoan financial institutions have an insufficient emphasis on savings. Women mainly save at home and in secret, although mostly savings are small amounts for emergencies and less so for business. This is often due to the many financial pressures on any income earned. “It is hard to save because when things happen in the village, you cannot hold onto that money. Even if you are saving for a purpose, you have to give it towards that. Because that is happening now, but savings can happen later.” (Women, Savaii, Samoa) VII. Appendices 31 CHALLENGES TO SAVE DUE TO PRESSURE TO SHARE Women reported having to keep secret savings that their family members did not know about. This was most commonly used for goals which their family members did not necessarily share, or in case of emergencies. “… the money left over from spending from my husband’s pay, I do keep that aside as secret savings. I just leave it in my bag. My children will go through it and they will try to find it. They do not know the secret place for it. I have to keep some private for emergencies. If someone gets sick and has to go to the hospital, then my whole family will look at me and say how we will go to the hospital, where will we get the money? I will say don’t worry, just pack up your things and I will take care of it.” (Woman, Savaii, Samoa) Such pressures have also included using borrowed money for business, which is then diverted to meet personal obligations to the Church and the family (Hedditch and others 2010). 32 Research and Literature Review of Challenges to Women Accessing Digital Financial Services Case Study 1: BANKING ON THE MARKET The Service Low-income women in the bustling city of Lagos, Nigeria are both time and resource poor. However, they seek services to ‘park’ their money for larger spending purposes, such as business capital and KEY FIGURES school fees. Women have traditionally had access to an informal service called Ajo.36 Therefore, Diamond Bank decided to replicate this model to attract people into the formal banking sector. At the end of the 6-month pilot program In addition to providing a newly-designed savings account with in 21 Diamond Bank no minimum balance or transaction fees (BETA savings account), Branches, the banks Diamond Bank built a network of agents called BETA friends to work had: in the markets where these women make financial their transactions. 38,600 new accounts Innovations Going to the Customers: Queues in African banks are notoriously 40 percent of new long and many people do not have the time to do banking the accounts were held by traditional way (even though they would like to have bank accounts). women The BETA friends service allows people to save quickly, and in a place that suits them. Compensated on an incentive basis, the BETA US$1.5 million in savings friends create their own portfolio of customers — from an average of had been gathered 200 customers to up to 500 for high performers. Reduced and accessible Know Your Customer (KYC): Many 74 percent of customers customers (quite rightly) perceived the requirements to open a were transacting at least bank account onerous. Therefore, Diamond Bank needed to make once a month the registration process quick and with minimal requirements. Account opening is done through a mobile phone and a starter pack (with a Debit Card) is given immediately to the customer. No trips to branches, utility bills or references are required.37 36. The Ajo Service does a daily collection of savings at the market stalls. Typically, money can only be withdrawn at the end of the month. Fees are generally equal to one day of savings. Though commonly used, the risk of the Ajo collector running off with the money is real. 37. Nigeria has a regulatory system that allows for different KYC for different types of transactions (including balance limits and transaction limits). Case Study 1: Banking on the Market 33 Marketed directly to women: The BETA savings The savings gathered is less costly than raising funds account was marketed directly to women (without on the international markets, and can therefore have a discriminating against men). The tools were designed larger spread when lent out. with women in mind, as they had previously been very hard to reach. This however did not deter men. Brand awareness and trust is developing in markets Indeed, men comprise 60 percent of the account that previously saw banks as inaccessible. Word of holders. mouth marketing puts Diamond Bank at the front of this new market. Adaptations Further opportunities Adapting the product: Diamond Bank wanted to have the deposits of these customers, but realized it Customers have expressed interest in borrowing and would need to provide a service that cost no more than realize that by formally saving, they are creating a the Ajo service. Diamond Bank built its business case history that allows them to borrow. Diamond Bank is on the low cost of funds that come from leveraging already assessing lending possibilities. savings. The account also attracts interest, and offers This new market segment presents fresh opportunities a chance to win weekly cash prizes. to offer products, such as insurance and youth banking As women are harder to convince and tend to ask (or school-based BETA friends). more questions than men, opening accounts for How this can apply to the Pacific Region women was not seen as lucrative to the BETA friends. Diamond Bank decided to pay the BETA friends The Pacific Region is still largely unbanked. higher incentives to open accounts for women as they However, it does have a number of venues where knew that women were more likely to use the account people congregate, such as markets, schools, Bingo regularly, save more, and withdraw less. Men tend to halls, churches, and so on. These are places where a see the account as more transactional than for savings BETA friends concept could be used to open accounts purposes. and make transactions. All marketing and communications are done using Bingo is enjoyed by many Pacific women. Generally, ‘everyday’ language. Banking jargon, by contrast, giving prizes to customers can entice new users into was seen as exclusionary and not well understood. registering and utilizing the product. How the BETA product and friends have Additional Resources added value to Diamond Bank https://www.womensworldbanking.org/wp-content/ Diamond Bank has grown a complete new segment of uploads/2014/03/Womens-World-Banking-A-BETA- customers that were previously untargeted. Way-To-Save.pdf 34 Research and Literature Review of Challenges to Women Accessing Digital Financial Services Case Study 2: CAMPING WITH OUR CUSTOMERS The Service EasyPaisa38 of Pakistan uses 75,000 agents and 6,000 plus 1-link enabled ATMs to facilitate 1.2 million Benazir Income Support Payments (BISP) to poor women every quarter. Utilizing an KEY FIGURES innovative co-location tent for each client servicing, EasyPaisa has watched these women develop their financial literacy and share this learning in the community. 1.2 million transactions every quarter Innovations 75,000 agent locations The BISP recipients are not likely to own mobile phones. EasyPaisa and BISP opted for a debit card solution. These accounts can be transitioned to mobile phones when ownership and usage rates 75 percent of recipients increase. from the poorest 40 percent of the population To service these customers, BISP and EasyPaisa have set up 31 “campsites” strategically located approximately 5 kilometers from All 1.2 million recipients any client’s home. These tents have BISP staff members to verify have a bank account, a eligibility. EasyPaisa personnel in turn issue and train customers in debit card, and are fully how to use the debit cards, making them a one-stop tent for customers. trained to use agents These service tents also manage lost cards or PINs, re-training and and ATMs queries about payments. 31 Co-location Service Adaptations campsites created EasyPaisa needed to ensure the cash-out points were ready for 1.2 million transactions of 5 billion Pakistani Rupee (PKR) (approximately US$47 million) per quarter through retailers and ATMs. The availability of cash in ATMs is not the responsibility of Easy Paisa, as the ATMs are owned by various banks across Pakistan. Therefore, they mapped locations of clients and reviewed current liquidity levels, and increased agent numbers of installed ATMs. A lot of pre- planning was involved. 38. EasyPaisa is a joint venture between Telenor Pakistan and Tameer Bank/MFI in 2009. Telenor now owns 100 percent of Tameer Bank, and therefore 100 percent of EasyPaisa. It is based in Pakistan. Case Study 2: Camping with Our Customers 35 Having access to a debit card was new for all of these • Reduced waiting time due to the number of outlets women, so mass training events needed to be held. where customers can receive cash. Previously this These events advised users on what a debit card is, was through money orders at the Pakistan Post where to use it, how it works and most importantly Office. — protection of the card and PIN. Through intensive training and service tents, clients have adapted • Increased financial literacy and access to a formal quickly. The information was shared and travelled financial tool that can be used for various reasons. fast. • A one-stop shop for registration, education, queries EasyPaisa also needed to ensure agents were aware of and feedback. what was about to occur, including bringing on new clients, understanding how the BISP works, creating How can this apply to the Pacific service points for customers, and so on. Region As governments look to digitize payments, DFS How the BISP Payments have added providers can be ready to help them achieve this goal. value to EasyPaisa By working with the government, a DFS provider can EasyPaisa was able to deliver a high quality service for grow their customer base quickly. The government BISP. As such, it has gained many other bulk payers may also possibly pay for the change management. who can now utilize the facilities and knowledge built A marketable and fairly similar client set allows for through the BISP program. easier development and testing of new products. EasyPaisa receives commission from the government The same model can be offered to large companies, to distribute the payments. The government also funds non-governmental organizations (NGOs) and other the costs associated with the service tents (except entities making regular payments. In addition, this EasyPaisa staff). In addition, it has experienced generates demand in rural areas where the business dramatic customer growth. Customers receiving case for agents is hard to create. payments through EasyPaisa are also more likely to wish to receive their remittances (from extended Additional Resources: family, and other government payments) through this http://dailytimes.com.pk/business/23-Dec-15/wb- channel. lauds-system-transparency-of-bisp http://www.grameenfoundation.org/resource/ Further Opportunities easypaisa-overview-operational-model-mobile- • Designing new products to customers, for example, money-service-provision loans to customers based on confirmed eligibility, https://www.telenor.com/media/articles/2014/ and micro insurance from BISP payments. bringing-financial-services-to-pakistani-women/ • Adapting cards to also include mobile access and build a non-over the counter (OTC) transaction set. 36 Research and Literature Review of Challenges to Women Accessing Digital Financial Services Case Study 3: CRACKING OPEN THE COOKIE JAR The Service In 2014, AMRET39 launched the first stage of its Mobile Financial Services (MFS) program in Cambodia, called Mobile Tellers. The mobile teller provides Door-2-Door account registration, savings KEY FIGURES collection, and cash withdrawal service with SMS receipts. Managed by the individual branches, these tellers go out to clients’ homes and/ or business places where customers are not able to travel to a branch. 26,000 rural savings accounts have been The key driver for building the MFS program is the leveraging of created rural savings. AMRET knows such savings exist, but these savings are not entering the formal banking sector due to long geographical 82 percent of the Mobile distances. Teller customers are women Innovations Double Processing: Many new customers were not comfortable Only 27 percent of these with only having SMS receipts. Illiteracy, full SMS mailboxes, women previously had and technical unfamiliarity were the major challenges. AMRET bank accounts decided to adopt both SMS and paper receipts until customers felt comfortable. This helped customers feel safe as they transitioned from their Cookie Jar savings to formal savings. Branch Adaptations: AMRET opted for a decentralized approach, whereby branches would manage the mobile tellers and own the customers. Branch manager roles were adapted to being eco-system driven, rather than branch driven. This required a clear new vision for Branch Managers, and a pilot program was undertaken to see how the changes worked. Staged Approach: There are two phases to the AMRET MFS program. First, Mobile Tellers are brought into an area to register and service customers. This phase builds the trust and creates the eco-system. Second, AMRET will then work with customers to move to a self-serve model as comfort with technology increases. 39. AMRET is a Micro-Finance Institute in Cambodia licensed do lending and take deposits. Case Study 3: Cracking Open the Cookie Jar 37 Adaptations Further Opportunities • Door-2-Door: AMRET knew it needed to Review other functions that the Mobile Teller can leverage rural savings. However, it also knew it undertake, such as disbursements and collection of could not build new branches everywhere, and that loan applications. It may also be beneficial to run customers would not travel the distances to visit marketing programs, and undertake research. Review them. The Door-2-Door model allows AMRET to the savings products and other services offered to extend the reach of each branch in a cost effective, determine if further changes are needed to better suit yet highly personal way. this market —and enable clients to obtain further access to formal financial services through the Mobile • All processes in branches, from cash management Teller channel. to customer complaints, needed to be reviewed and adapted to add the mobile teller model into the day-to-day operations. This review was critical How this can apply to the Pacific to ensure that the operation ran smoothly for both Region staff and customers. As in Cambodia, many Pacific women are not easily able to leave home due to home-based needs How has the Mobile Teller program (children, parents, home businesses). Women need added value to AMRET help by having services come to them. • AMRET has leveraged 26,000 new savings Many communities are still unexplored in terms of accounts as of May 2016. These accounts are what their financial service needs are. First player depositing savings at about twice per week, with advantage would allow a DFS to build trust in the withdrawals being done about once every 2 weeks. community while building awareness of all financial service products. • AMRET has significantly extended its brand reach and built trust in new villages. This means that it There are many highly underserved communities in will likely be the first port of call for customers the Pacific region who would benefit from having a who wish to utilize more financial services. regular financial service. The provision of training AMRET has developed a much greater and support can help introduce these services in more understanding of the ‘last mile’, that is, what areas of the region. is out there in terms of savings, and how these communities behave. Many of these communities Additional Resources are inaccessible at different times of the year and have been typically ignored by formal institutions. http://bwtp.org/amret-microfinance-institution- update/ http://www.amret.com.kh/amret/index.php/en/ 38 Research and Literature Review of Challenges to Women Accessing Digital Financial Services Case Study 4: BANKING OUTSIDE OF THE BOX The Service As Ghana’s largest indigenous bank, Fidelity Bank has always wanted Ghanaians to know that they can produce the same, if not better, levels of products and services as any international bank. In KEY FIGURES 2013, Fidelity Bank piloted the Smart Account product and Agency Banking service to set the pace for offering quality financial services to Ghana’s unbanked and under-banked. Fidelity’s Smart Account Converted 396 VSLA’s is either a current or savings account with reduced Know Your Customer (KYC) regulations, an immediately enabled debit card. It Individual Accounts is enabled for mobile and internet banking, and usable at any Smart Opened: 4402 Agent via a point of service (POS) machine. In 2013, Fidelity Bank partnered with CARE, a leading humanitarian Total Cumulative organization funded by the United Nations Capital Development Deposit Gamered: Fund [UNCDF] Micro-Lead Expansion [MLE] Programme. The Ghanaian Cedi (GHS) goals was to pilot the transition of CARE-run Village Savings and 198,243.1 (approximately Loans Associations (VSLA) from being managed in a locked box to US$50,000) digital banking. Fidelity Bank has also opened an individual account, as well as a group account (in the name of the VSLA Chairperson). 4803 Transactions Through Agents Adaptations and Innovations • Reduced KYC - With approval from the Bank of Ghana, Fidelity 16 New Agents Opened Bank opened accounts with low KYC requirements. This meant Due to CARE VSLAs that customers only needed one type of government-issued identification (ID). For the rural areas, this is predominately a voter ID or a National Health ID card. This ID is then photographed and uploaded so the opening of the account can be immediately undertaken by a Smart Friend (a roving Fidelity Bank representative). • Triple PIN – CARE VSLAs include up to 25 people with an elected chairperson, secretary and treasurer who hold keys. Each group has a box that is locked with three locks that are opened by these keys. To replicate this level of security, Fidelity Bank has split the four-digit account PIN into two, giving two digits each to two persons selected by the group, with the card being domiciled with a third person. Case Study 4: Banking Outside of the Box 39 • Core Banking System (CBS) – When developing Further Opportunities the Smart Program, Fidelity Bank opted to build a stand-alone CBS for customers that also allowed This pilot project, when adapted, allows Fidelity to for internet and mobile banking through agents. convert the remaining CARE VSLAs as well as other Fidelity was then able to move very quickly savings group models operating in Ghana. to market with a new customer set, without This pilot allows CARE to replicate this program impacting their existing customers. This decision, with other institutions in other countries where they though well thought-out at the time, has proven to are operating VSLA programs. In Ghana, two other have too many limitations (not scalable enough, financial institutions have now joined this linkage agents restricted to Smart accounts only, and POS model being piloted by Fidelity Bank and CARE terminals not robust enough for the geography). under the sponsorship of UNCDF MLE. Therefore, Fidelity is transitioning this platform to their existing CBS. How this can apply to the Pacific • Training through CARE – With CARE as the Region overseer and facilitator of the VSLAs, they were best placed to manage and train the individuals and The Pacific Islands have many savings group groups in the necessary skills. Providing training structures similar to the CARE VSLAs described in already established and trusted groups allows here. They are collective groups that can be easily for ease of information sharing and trust among targeted to be the providers of transactions to a clients. VSLA members also have input into the struggling agent network. selection of local Smart Agents, as they have local knowledge of the reliability, trustworthiness, and Additional Resources: abilities of those chosen to provide agent services. A report from CARE on how collectives empower women: http://www.care.org/sites/default/files/ Added Value to Fidelity Bank documents/care_crossproject_wee_revisedformat_ The partnership with CARE allows Fidelity Bank to june_2016.pdf access collective customer sets that would have been Video on Fidelity Smart Account and expensive to recruit on their own. Agency Banking: https://www.youtube.com/ An interesting outcome of this project has been the watch?v=zQ3CCZhTENM anecdotal increase in savings by individuals. VSLAs Video on CARE Fidelity VSLA Linkage: tend to have set and equal savings requirements https://www.youtube.com/watch?v=ks6OBrgxVS0 for each member to offset any chance of power differentiation. Although this works well for a group dynamic, many women want to save more than the set amount. The provision of the Smart Account allows women to meet their VSLA obligations while still having a safe and secure place to save extra money. 40 Research and Literature Review of Challenges to Women Accessing Digital Financial Services Case Study 5: IN TELLERS WE TRUST The Service The Service Zoona Zambia has created a specialized program to train more young women to become Zoona tellers, Zoona Kiosk owners and community leaders. In 2014, Zoona was selected by the Girl Effect KEY FIGURES Accelerator40 as one of the 10 global ventures best-positioned to take young, marginalized women out of poverty. 400 Zoona Agents in Zambia managing 100 Innovations outlets After doing some data analysis, Zoona realized that even though only 30 percent of their kiosks were owned by women, 70 percent of all 1.5 million unique the kiosks were staffed by women. When exploring why this was customers every 60 days the case, Zoona learned that both clients and business owners trust women more in conducting transactions and operating the kiosks in an effective manner. Over US $1 billion of transaction value In February 2016, Zoona launched the Girl Effect Pipeline. This is processed since a two-week leadership training course for young women who have inception finished 12 years of schooling, but who have no access to employment or funds to invest in tertiary education. 2500 jobs created Providing the young women with training in life skills, phone and by Zoona related computer usage, personal presentation, customer service and how to businesses – 70 percent operate the Zoona system, 41 young women, from rural and urban of whom are women areas are now earning incomes as tellers in existing Zoona kiosks. The women now plan to become either Zoona Kiosk owners or return 22.5% female youth to their tertiary education. unemployment rate Adaptations The Girl Effect Pipeline is a new program that is intended to run for two years for each cycle, with a new cycle starting every year. 40. Girl Effect Accelerator is partnership between the Nike Foundation and the Unreasonable Group. http://girleffectaccelerator.com/ World Bank Quandl Database, December 2013. Case Study 5: In Tellers We Trust 41 Zoona also provided some seed funding for all new • Move the same model into new markets (for Kiosk owners. This covers pre-built Kiosks, branding example, to Malawi, where Zoona has already (including clothing and signage), tools to manage established a business). businesses, and training support. • Increased financial literacy and access to a formal Additionally, Zoona provided a Support Towards Early financial tool that can be used for a variety of Profitability (STEP) payment for new businesses to purposes. cover operating costs, such as rent, electricity, phone credit and teller salaries, and so on) for up to one year, • A one-stop shop for registration, education, queries or until the business breaks even. and feedback. How Girl Effect Pipeline has added How this can apply to the Pacific value to Zoona Region • The provision of start-up support for new Kiosks • The Pacific Region has many young women who allows new businesses some time to grow their lack opportunities. Sixty percent of women in market, without being hindered at the start by Papua New Guinea attend a women’s only group existing debt. at least once a week, and 30 percent of women said they seek money management advice from female • Pre-made Kiosks allow for consistent branding friends. and ensure a minimum level of consistency in the customer experience. • There is demand for female training services that provide skills and the ability to create an income. • Supporting more women tellers, and hopefully more women business owners, provides Zoona • There are many highly under-served communities with a more trusted agent network that is attractive in the Pacific region that would benefit from to its customers. having a regular financial service. The provision of training and support can facilitate financial services to these areas. Further Opportunities • The ability to adapt or ‘franchise’ the Girl Effect Additional Resources Pipeline model to other businesses where women customers are highly sought. https://www.youtube.com/watch?v=rP-GTP2B6Vs (Video on the Girl Effect) • Great community branding as a support for rural areas and r young women. http://www.girleffect.org/girl-effect-in-action/girl- effect-accelerator/ 42 Research and Literature Review of Challenges to Women Accessing Digital Financial Services Case Study 6: SHOW ME THE SAVINGS The Service Dnet41, a social enterprise based in Bangladesh, launched Aponjon (meaning ‘the close/dear one’ in Bangla) in 2012. This service provides educational SMS messaging to new and expectant mothers, KEY FIGURES as well as other family decision-makers (particularly husbands and grandmothers) around pregnancy, birth and infant care. Reduced internal To reach the potential clients, Dnet brokered partnerships with payment processing six outreach organizations, every mobile network operator in the time from 30 days to 8 country, and three large corporate partners. days — that is by 14,612 person hours a year After previously paying commissions to the outreach workers manually, Dnet decided to work with the mSTAR program42 to digitize these payments to save on both time and costs. This has led Removed two layers to an extraordinary 75 percent reduction in time spent processing and of processing for each collecting the payments, and a 77 percent reduction in the processing payment cost of the payments.43 Reduced the time spent Adaptations and Innovations on payment processing and collection by 75 Payment System – To undertake the digitization of payments, percent Aponjon first needed to create a system that would contain historical information to calculate payments due to each person and include payment details. This system produces payment reports that are sent Reduced the cost of to each mobile payment partner when payments are made. payments by 77 percent Training Manual – Though the outreach workers were already 1.8x return on confident in using their mobiles for the Aponjon activities, this did investment in the first not naturally lead to confidence in, or the ability to use, mobile money year 41. http://dnet.org.bd/ and http://www.aponjon.com.bd/ 22.5 percent female 42. https://www.fhi360.org/projects/mobile-solutions-technical-assistance-and- youth unemployment research-mstar rate 43. For more a more detailed breakdown on savings from this project, see: https:// www.microlinks.org/sites/default/files/resource/files/Dnet_Payments_ infographic_August2015.pdf Case Study 6: Show Me the Savings 43 applications. The agents felt there was an increased Further Opportunities risk of using MFS instead of cash because of a lack of trust in Mobile Money agents, the possibility of The success of this transition is now visible to the being issued fake notes, as well as making mistakes public and will be used to argue the point for the when transacting (and losing money). After extensive transition to DFS. As pressure is put on cost-reduction training, it was clear agents had trouble remembering in development projects, this model could have wide PINs. It was decided to ask the women to remember a application. pattern (on a 3x3 keyboard) rather than the numbers, and this has worked well. How this can apply to the Pacific Region Partnerships – The Aponjon program is made up of many partners, and adding DFS partners needed The Pacific region has many large-scale employers to occur. The partners needed to work with Aponjon (such as mining, fisheries, governments, and so (and the new payment system) as well as the outreach on) that are always looking for solutions to pay workers to ensure a smooth transition. their workers in a timely, safe and secure manner. Although the transition to DFS has been discussed How has the transition to digital many times, the appropriate conditions with regard to payments added value to Dnet? cost, timeliness and the quality of the agent networks have not been present. The reduction in cost and the willingness to adapt and learn has provided Dnet with a new payment A DFS provider in the Pacific region may be able to model for their entire operation. DFS payments can fix the Agent Network and build a clear transition now be embedded into programs at the initial stages, path for these employers at a huge savings of cost and including any technical training required. time. For the Aponjon agents, it has greatly reduced the Additional Resources delay between finishing work and receiving payment for that work. It has also added knowledge and new https://www.microlinks.org/sites/default/files/ skills into their daily lives. resource/files/FinalEvaluation_Dnet_mSTAR_ June2015.pdf 44 Research and Literature Review of Challenges to Women Accessing Digital Financial Services VIII. References Alliance for Financial Inclusion. 2016. “Policy Banthia, Anjali, Susan Johnson, Michael J. McCord, Frameworks to Support Women’s Financial Inclusion and Brandon Mathews. 2009. “Microinsurance “. Women’s World Banking. March. http://www.afi- that Works for Women: Making Gender-Sensitive global.org/sites/default/files/publications/2016-02- Microinsurance Programs”. Microinsurance Paper No womenfi.1_0.pdf 3. Women’s World Banking. Centre for Development Studies, University of Bath; The MicroInsurance “A Quick Guide to the Maya Declaration on Financial Centre, Zurich Financial Services. http://www.ilo. Inclusion”. http://www.afi-global.org/sites/default/ org/public/english/employment/mifacility/download/ files/afi_maya_quick_guide_withoutannex_i_and_ mpaper3_gender.pdf ii.pdf?op=Download Banthia, Anjali, Janiece Greene, Celina Kawas, Angelow, Weselina. 2016. “Achieving Financial Elizabeth Lynch, and Julie Slama. 2011. “Solutions Access through Village Banking and Data”. Child for Financial Inclusion: Serving Rural Women”. Poverty Action Group (CPAG) Blog. April. http:// Women’s World Banking Focus Note. http://www. www.cgap.org/blog/achieving-financial-access- microfinancegateway.org/sites/default/files/mfg-en- through-village-banking-and-data case-study-solutions-for-financial-inclusion-serving- Asian Development Bank, the Australian Agency rural-women-2011.pdf for International Development (AusAID), United Consultative Group to Assist the Poor (CGAP). Nations Country Team, World Bank/International “Women and Financial Inclusion”. CGAP Blog. Finance Corporation (IFC). 2012. “Country Gender http://www.cgap.org/topics/women-and-financial- Assessment, Papua New Guinea 2011-2012”. inclusion http://www.adb.org/sites/default/files/institutional- document/33859/files/cga-png-2011-2012.pdf Foundation for International Community Assistance (FINCA). 2016. “Women Mean Business.” FINCA Banthia, Anjali, Carol Tyroler, Penelope Schoeffel, Blog. http://www.finca.org/blogs/women-mean- and Ramatolie Saho. 2013. “Deepening Financial business/ Inclusion For Women In The Pacific Islands: An Assessment of the Gender Issues Surrounding Women’s Global Banking Alliance for Women. 2014. “How Ability to Access and Control Financial Resources Banks can Profit from the Multi-Trillion Dollar in Papua New Guinea And Samoa”. - Prepared for Female Economy”. http://www.gbaforwomen.org/ the New Zealand Aid Programme. Women’s World download/how-banks-can-profit-from-the-multi- Banking. April. https://www.womensworldbanking. trillion-dollar-female-economy/ org/wp-content/uploads/2013/06/WWB-Pacific- Gender-Study-Research-Report-May2013-Final-A4. pdf VIII. References 45 Grameen Foundation. 2014. “Research on Women International Monetary Fund (IMF). 2014. “Address and Usability of Mobile Financial Services in India.” to the International Forum for Financial Inclusion, Link to Power Point on the research study can be found Mexico.” By Christine Lagarde, Managing Director, at: http://www.grameenfoundation.org/resource/use- International Monetary Fund (IMF). June 26. https:// mobile-financial-services-among-poor-women www.imf.org/external/np/speeches/2014/062614a. htm Groupe Spéciale Mobile Association (GSMA). 2014. “Connected Women: Striving and Surviving in Papua Klapper, Leora. 2015. “Digital Financial Solutions to New Guinea: Exploring the Lives of Women at the Advance Women’s Economic Participation”. World Base of the Pyramid”. http://w w w . g s m a . c o m / Bank Development Research Group, the Better Than mobilefordevelopment/wp-content/uploads/2014/11/ Cash Alliance, the Bill & Melinda Gates Foundation mWomen_PNG_v3.pdf and Women’s World Banking to the G20 Global Partnership for Financial Inclusion. Prepared for the GSMA Intelligence. 2015. “The Mobile Economy. Turkish G20 Presidency. November 16. http://www. Pacific Islands”. http://gsmamobileeconomy.com/ uncdf.org/sites/default/files/Documents/womens_ pacificislands/ economic_participation_report_16_november_2015. GSMA-mWomen and VISA, Bankable Frontiers pdf Association. 2013. “Unlocking the Potential: Lauler, Julienne. 2015. “Warning! Mobile Money Women and Mobile Financial Services in Emerging May Have Powerful Side-effects”. Impatient Markets”. February. http://www.gsma.com/ Optimists Blog. Bill and Melinda Gates Foundation. mobilefordevelopment/wp-content/uploads/2013/02/ September 30. http://www.impatientoptimists.org/ GSMA-mWomen-Visa_Unlocking-the-Potential_ Posts/2015/09/Warning-Mobile-Money-May-Have- Feb-2013.pdf Powerful-Sideeffects#.V2D4VtfoCbR Hedditch, Sonali and Clare Manuel. 2010. Lichtenstein, Sharman and Kirsty Williamson. 2006. “Papua New Guinea - Gender and Investment “Understanding Consumer Adoption of Internet Climate Reform Assessment”. IFC/AUSAID. Banking: An Interpretive Study in the Australian January. http://www.ifc.org/wps/wcm/connect/ Banking Context”. http://www.jecr.org/sites/default/ cbdeb18049fb10e5a29bebd1a5d13d27/IFC_Gende files/07_2_p01.pdf r+and+Inv+Climate+Reform+Assessments+PNG. pdf?MOD=AJPERES McKee, Katharine, Michelle Kaffenberger and Jamie M. Zimmerman. 2015. “Doing Digital Finance Right: “Samoa - Gender and Investment Climate Reform The Case for Stronger Mitigation of Customer Risks”. Assessment”. IFC/AUSAID. January. http://www.ifc. CGAP Focus Note No. 103. June. http://www.cgap. org/wps/wcm/connect/9adfb08049fb3c40a4a3edd1a org/sites/default/files/Focus-Note-Doing-Digital- 5d13d27/IFC_Gender+and+Inv+Climate+Reform+ Finance-Right-Jun-2015.pdf Assessments+_Samoa.pdf?MOD=AJPERES Melnyk, Valentyna, Stijn M.J. van Osselaer, & Helms, Brigit. 2013. “Why Women Remain an Tammo H.A. Bijmolt. 2009. “Are Women More Untapped Potential in Mobile Money”. Better than Loyal Customers Than Men? Gender Differences in Cash Alliance. Guest post. July 16. https://www. Loyalty to Firms and Individual Service Providers”, betterthancash.org/news/blogs-stories/why-women- Journal of Marketing73(4):82–96. https://archive. remain-an-untapped-potential-in-mobile-money   ama.org/archive/AboutAMA/Pages/AMA%20 International Labour Organization (ILO). 2015. “Key Publications/AMA%20Journals/Journal%20of%20 Indicators of the Labour Market (KILM) Database.” Marketing/TOCs/SUM_2009.4/Are_Women_More_ http://www.ilo.org/empelm/what/WCMS_114240/ Loyal_Customers.aspx lang--en/index.htm 46 Research and Literature Review of Challenges to Women Accessing Digital Financial Services Napier, Mark, Claire Melamed, Georgia Taylor United Nations, Sustainable Development Goals, and Thomas Jaeggi. 2013. Promoting Women’s 2015a http://www.un.org/sustainabledevelopment/ Financial Inclusion: A Toolkit”. Department for gender-equality/#751f89fa361630f60v International Development (DFID) Deutsche Gesellschaft für Internationale Zusammenarbeit The World’s Women 2015: Trends and Statistics. (GIZ) GmbH. February. https://www.gov.uk/ New York: United Nations, Department of Economic government/uploads/system/uploads/attachment_ and Social Affairs, Statistics Division. http://unstats. data/file/213907/promoting-womens-financial- un.org/unsd/gender/worldswomen.html inclusion-toolkit.pdf UN Women. 2010. “Ending Violence against Women Santosham, Shireen, Dominica Lindsey, Emmanuel and Girls. Evidence, Data and Knowledge in the de Dinechin, Geraldine Baudienville, Alice Bodreau, Pacific Island Countries. Literature Review and Alizée Boutard, and Marc de Courcel. 2015. “Bridging Annotated Bibliography”. http://www.unicef.org/ the Gender Gap: Mobile Access and Usage in Low- pacificislands/evaw.pdf and Middle-Income Countries”. GSMA Connected Women’s World Banking. 2015. “Digital Savings: Women and Altai Consulting. http://www.gsma.com/ The Key to Women’s Financial Inclusion?” https:// mobilefordevelopment/wp-content/uploads/2016/02/ www.womensworldbanking.org/wp-content/ Connected-Women-Gender-Gap.pdf uploads/2015/08/Digital-Savings-The-Key-to- Scharwatt, Claire, Arunjay Katakam, Jennifer Wo m e n % E 2 % 8 0 % 9 9 s - F i n a n c i a l - I n c l u s i o n _ Frydrych, Alix Murphy, and Nika Naghavi. WomensWorldBanking.pdf 2014.“State of the Industry Mobile Financial Services World Bank and the OECD/INFE. 2015. “Women and for the Unbanked”. GSMA. http://www.gsma.com/ Finance Progress Report to the G20”. With inputs from mobilefordevelopment/wp-content/uploads/2015/03/ the Global Partnership for Financial Inclusion. http:// SOTIR_2014.pdf g20.org/English/Documents/PastPresidency/201512/ Scharwatt, Claire Pénicaud and Elisa Minischetti. P020151225685439727341.pdf 2014. “Reaching half of the market – Women and World Bank Databank.Samoa – Personal remittances Mobile Money”. GSMA Report. September. http:// as a percentage of GDP. http://data.worldbank.org/ www.gsma.com/mobilefordevelopment/wp-content/ indicator/BX.TRF.PWKR.DT.GD.ZS uploads/2014/09/2014_DI_Reach-half-of-the- market-Women-and-mobile-money.pdf World Bank Findex. Financial Inclusion Data. http:// datatopics.worldbank.org/financialinclusion/topic/ Silverstein, Michael J. and Kate Sayre. 2009. gender “Women Want More: How to Capture Your Share of the World’s Largest, Fastest-Growing Market”. Harper Business. United Nations Children’s Fund (UNICEF). Samoa – Country Socio-Economic Statistics (State of the World’s Children). http://www.unicef.org/ infobycountry/samoa_statistics.html VIII. References 47