March 9

Online Remittances: Closing The Gender Gap

By Madhvi Mavadiya

Over 1 billion women across the world are unbanked, which means that these individuals lack the autonomy to take control of their finances and make financial decisions. Women make up approximately 50 percent of all migrant workers globally. However, the persistent gender pay gap means that their wages are commonly lower than men’s, which is problematic when research suggests that female migrant workers typically send home a higher proportion of their earnings more frequently.

Migrant workers are driven by the need to sustain their family group and can exert individual and collective influence by leveraging remittances, both as recipients and senders. Further, regardless of the gender of the sender, remittances are usually directed to mothers, daughters or to women looking after the children of migrants.

Photo courtesy of WorldFish.

Source: Forbes (link opens in a new window)

financial inclusion, fintech, migrants, remittances