Digitizing wages in the global garment industry represents a significant opportunity worth billions of dollars for Financial Service Providers. However, the segment remains untapped. This guide, developed with Mastercard Center for Inclusive Growth, offers financial service providers insights and practical advice on three stages to develop the digital wages market segment:
- Acquiring new customers—understanding the financial behaviors and needs of garment sector employers and workers, and developing financial solutions which would be in high demand
- Driving account usage of financial services—supporting clients and customers to digitize and become active account users
- Retaining customers and reaching scale—building relevant use cases and collaborations to build the ecosystem
