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Microfinance going cashless  results and lessons learned from payments to asset-building julie-peachey
Microfinance going cashless  results and lessons learned from payments to asset-building julie-peachey
Microfinance going cashless  results and lessons learned from payments to asset-building julie-peachey
Microfinance going cashless  results and lessons learned from payments to asset-building julie-peachey
Microfinance going cashless  results and lessons learned from payments to asset-building julie-peachey
Microfinance going cashless  results and lessons learned from payments to asset-building julie-peachey
Microfinance going cashless  results and lessons learned from payments to asset-building julie-peachey
Microfinance going cashless  results and lessons learned from payments to asset-building julie-peachey
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Microfinance going cashless results and lessons learned from payments to asset-building julie-peachey

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  • 1. MICROFINANCE GOING CASHLESS: Results And Lessons Learned from Payments to Asset-Building Lessons from piloting mobile financial services at CARD Bank in the Philippines October 10, 2013
  • 2. CARD Bank Mobile Financial Services Pilot 1) Objective 1: Improving operational efficiency 2) Objective 2: Improving access and convenience 3) Objective 3: Demonstrate sustainable account and transaction volume
  • 3. Delivery Model CASH-IN Nanay Violy CASH-OUT CARD Bank Agent
  • 4. Time and cost to client of making a withdrawal Travel & transaction cost (Php) Withdrawal cost Withdrawal time in Peso MFS saves time: 103 min (116 minus 13) 140 Declined aggregate cost 120 100 80 Member’s earning capacity: P300/day = P37.5/hr = P0.63/min Opportunity cost saving: P0.63 x 103min = P65 60 40 20 Financial cost decrease: P22 0 Control Treatment Total Cost Saving: P65 + P22 = P87 per withdrawal
  • 5. Transactions on Weekends by Income Type Average number of transactions on a weekend PPI ($2.5/day) 38.3% 48.7% 49.6% Proportion of transactions made on weekends 26.4% • Casual laborers use MFS over weekends – Potential to improve financial inclusion – 55 out of 254 members surveyed (20%) are casual laborers
  • 6. Key Pilot Results • Improving operational efficiency – Time-saving for AOs: center meeting time could be cut by at least 50% • Improving access and convenience – Successful adoption of MFS in general – MFS reduces time & financial cost of making transactions – Casual laborers use MFS more frequently over weekends • Sustainable account & transaction volume – No change in loan volume – Slight increase in missed installments – Training attendance and customer satisfaction are correlated
  • 7. THANK YOU Julie Peachey Country Director, Philippines Grameen Foundation jpeachey@grameenfoundation.org
  • 8. Sample average CARD Bank MFS Member Profile Main source of personal income PPI: Likelihood below $2.5/day 42.3% PPI: Likelihood below national poverty line 24.9% Own a mobile phone 81.8% Mobile phone in the house 95.5% Have used mobile money services 24.81% Comfortable with SMS 94.0% Satisfied with savings 44.6%

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