{"id":43034,"date":"2019-05-16T10:27:50","date_gmt":"2019-05-16T14:27:50","guid":{"rendered":"https:\/\/staging21.finca.org\/uncategorized-en-ca\/empowering-women-through-fintech-in-pakistan"},"modified":"2024-11-04T02:06:59","modified_gmt":"2024-11-04T07:06:59","slug":"empowering-women-through-fintech-in-pakistan","status":"publish","type":"post","link":"https:\/\/finca.org\/en-ca\/empowering-women-through-fintech-in-pakistan","title":{"rendered":"Empowering Women through Fintech in Pakistan"},"content":{"rendered":"
<\/div>\n
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While\u00a0financial inclusion<\/a>\u00a0has been on the rise globally, driven by mobile phones and the internet, the gap in account ownership between men and women has stagnated. In fact, according to the World Bank\u2019s 2017 Global Findex,\u00a0the gender gap has widened in some countries, including Pakistan.<\/p>\n

At financial institutions, Pakistani men outnumber women account holders by 68 percent. In mobile banking, the gap widens to 78 percent.<\/p><\/blockquote>\n

Since FINCA Microfinance Bank Limited (\u201cFINCA Pakistan<\/a>\u201c) re-branded in 2013, it has been working tirelessly to bring financial solutions closer to\u00a0women<\/a>. Last year, FINCA Pakistan reached an agreement to provide SimSim, its digital payments solution, to Ghar Par, a professional home beauty service.\u00a0Ghar Par provides a platform for women to offer their beauty services to other women at their homes in Islamabad and Lahore.<\/p>\n

The partnership between FINCA Pakistan and Ghar Par provides beauticians with SimSim accounts. SimSim, Pakistan\u2019s first free-to-use mobile wallet, was developed in partnership with Finja, a Pakistan-based fintech company. It enables Ghar Par\u2019s employees to make and receive payments digitally. Designed to be as easy to use as possible, the product minimizes the hassle for women who may be less familiar with mobile technology or banking.<\/p>\n

In a country where only\u00a07 percent<\/a>\u00a0of women have bank accounts, digital platforms could be transformative. SimSim is, quite literally, the first bank account ever held by many of the women who use the service, including many Ghar Par employees. It solves several barriers to financial inclusion for women in Pakistan, including accessibility, security, privacy and convenience. Women employees can now electronically transfer their earnings without the inconvenience or risk of carrying cash back to the head office.<\/p>\n

Further, digital platforms such as SimSim offer FINCA Pakistan and other financial service providers an opportunity to understand the payment behavior of users so that they can tailor credit and other products that further strengthen women\u2019s inclusion into the financial system.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Partnership in FINCA Pakistan allows women beauticians to offer their services to other women and comlpete financial transactions digitally.<\/p>\n","protected":false},"author":374,"featured_media":43035,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[151],"tags":[95],"class_list":["post-43034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog-en-ca","tag-financial-inclusion-en-ca"],"acf":[],"yoast_head":"\nEmpowering Women through Fintech in Pakistan | FINCA<\/title>\n<meta name=\"description\" content=\"Partnership in FINCA Pakistan allows women beauticians to offer their services to other women and comlpete financial transactions digitally.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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