Mobile Money: A Driver of Financial Inclusion in Pakistan
This blog series explores the financial inclusion landscape of Pakistan and its linkages with the mobile money services industry. Based on the premise that mobile wallets have the potential to drive financial inclusion far beyond what traditional banking channels can achieve, this series highlights important 2013-2015 mobile money research from a variety of sources. It also explores specific opportunities which, if capitalized upon, could improve mobile wallet uptake in the country.
Mobile wallets could have a revolutionary impact on financial inclusion in Pakistan. However, success of this channel hinges on matching the abilities of the end users with appropriately designed products.
There is more to financial inclusion than convenience. In Pakistan, for mobile financial services to maximize their financial inclusion benefits, providers need to offer a wider variety of services.
Mobile money - through over the counter services and mobile wallets - is helping to drive financial inclusion in Pakistan.
Financial inclusion in Pakistan has improved slowly but steadily since 2008 according to most sources. However, depending on the source of data, the topline financial inclusion figure for Pakistan varies from 7% to 23%. Why?