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Media (R)evolutions: The Mobile Wallet’s Global Popularity

Roxanne Bauer's picture

New developments and curiosities from a changing global media landscape: People, Spaces, Deliberation brings trends and events to your attention that illustrate that tomorrow's media environment will look very different from today's, and will have little resemblance to yesterday's

An estimated 2.5 billion people  in lower- to middle-income countries lack access to formal financial services, limiting their ability to benefit from economic opportunities and raise their income levels. Nevertheless, with more than 1 billion of these people owning a mobile phone, mobile money services, also known as mobile wallet, offer a possible solution by allowing individuals to pay for goods using a mobile phone instead of currency or credit cards. Already, there are around 220 services in 85 countries, and more continue to emerge.




 

The Gender Gap in Access to Finance

Asli Demirgüç-Kunt's picture

International Women’s Day is when we celebrate the strides made towards equality, but it also reminds us that gender is a powerful determinant of economic opportunities, particularly in developing countries.  Financial inclusion is one of the areas where we observe a gender gap—women in developing economies are still relatively more excluded from the financial sector than men, even after controlling for income and education

For the first time, we can quantify this gap using hard data and evaluate how women around the world save, borrow, make payments and manage risk, both inside and outside the formal financial sector. With the release of the Global Financial Inclusion (Global Findex) data, we now have a comprehensive, individual-level, and publicly-available database that allows for comparisons based on more than 150,000 nationally representative adults in 148 economies in 2011. The dataset includes over 40 indicators, but here we’ll focus on three main categories: account ownership, savings behavior and credit.

Counting Financial Inclusion and Debating its Merits

Leora Klapper's picture

Shedding light on and engaging in debate regarding financial inclusion is important and we can now be more informed on the topic thanks to the release last month of the Global Financial Inclusion Database, or Global Findex. With this in mind, I want to react from my point of view as supervisor of the Global Findex project to a recent post by Milford Bateman on The Guardian’s Poverty Matters blog.

Global Findex makes a valuable contribution to our development work, because it means that now researchers and policymakers no longer have to rely on a patchwork of incompatible household surveys and aggregated central bank data for a comprehensive view of the financial inclusion landscape.

It also means debates about financial inclusion can be rooted in more solid facts.