White paper released by FinTech firm Paysend, cites Infrastructure, cultural attitudes, and education as the main reasons why 270 million more women than men globally lack financial independence
Low income countries are particularly impacted by the gender imbalance in financial inclusion countries
Data from World Bank points to the importance of money transfers for women in poorer socio-economic situations
Global FinTech company Paysend today released a white paper focusing on the empowerment of women in low-income countries through international money transfers. The paper, published by Paysend, uses data from the World Bank and a number of other sources to demonstrate the importance of the digitisation of money transfers for women in poor socio-economic situations.
The white paper, entitled Digital money for inclusion. How FinTech is supporting the empowerment of women is part of Paysend’s educational series on the benefits of digital money, made particularly relevant given the importance of FinTech to play a central role in a post-coronavirus world.
Alberto Macciani, Paysend CMO and co-author of the white paper, said: “In many parts of the world financial equality is still a dream, as most women are completely dependent on their husband’s money. As women are generally better than men at saving and caring for family needs this has a huge impact on many socio-economic areas such as education and healthcare.
“To address this imbalance Paysend are working to educate people about the advantages of digital money, to help a fairer distribution and to have a more positive impact on society.”
Paysend is one of the leading global providers in digital money transfers and are on the cusp of reaching 2 million customers in just over 3 years of business. With a major focus on encouraging customers to make the switch from offline to online money transfer, the business has as one of its key pillars a focus on the distribution of money from high-income countries to low-income countries.