In the Joe Bar Market on the Old Road, the stalls follow one another neatly, displaying local delicacies like colourful embroidery on rotting-wood-plank canvas.
If you have been there this year and you had to think of a colour associated with this place, your mind would probably respond yellow without hesitation. Yellow has become the dominant colour in the market since market women started accepting mobile money.
On Day 3 of the #DFS4Women event, important insights started emerging about how to leverage the digitization of high volume payments to build a digital ecosystem in which people feel at ease using mobile money and second generation financial products. Significant emphasis was placed on behavioural changes and on what drives individuals to reassess their saving and spending practices and adopt new ones.
As agents represent the first and most tangible touch point for most digital financial service (DFS) customers, there is little doubt that having an effective agent network is key to the success of any DFS provider’s operations. Research published by The Helix Institute of Digital Finance in 2015 suggests that agent networks are also probably the most operationally burdensome and costly element
Day 2 of the #DFS4Women event saw participants go out into local communities to meet the real digital financial service (DFS) experts: mobile money customers and agents. Using a mobile-based Android app developed by Optimetriks, a provider of technological solutions to collect, process and visualize data, participants set out on a casual survey of DFS customers and agents.
Globally, there are 1.1 billion economically active but low-income women. What this means for digital financial service (DFS) providers is that there is a huge potential market of women DFS customers that remains largely untapped. When it comes to DFS, it turns out that what is good for women is good for everyone.
When it comes to digitizing bulk payments, scale is often considered the only thing that matters. No doubt scale is essential—but what if the obstacles to receiving the payments are so significant that women can not readily participate? This major challenge loomed over the discussion of benefits of high volume payments for women in the break-out session that opened the #DFS4W event organized by UN Capital Development Fund (UNCDF) in Kampala, Uganda, today. The gap between assumptions and reality on the ground is stark.
Facilitating women’s access to digital financial services (DFS) is an opportunity for the private sector to engage in gender equality. This is how Rosa Malango, UN Resident Coordinator in Uganda, opened the latest Partner Event of the Mobile Money for the Poor (MM4P) conference #DFS4W, today in Kampala, Uganda.