Programs

Ensuring the poor—particularly women—have the proper knowledge, skills, and attitudes toward financial services, and enabling them to participate in the formal financial sector, has significant benefits:

• It allows individuals to save for emergencies and build resilience to economic shocks, such as illness or loss of employment
• It empowers women to influence financial decision-making, which shifts household spending patterns in ways that benefit children and families
• It enables low-income adults to invest in economic opportunities
• It supports investments in health and education

230 million unbanked adults globally receive their private-sector wages in cash.

However, cash is:

• Risky: Employers face the risk of theft or fraud in the transportation and distribution of cash wages.
• Inefficient: Workers must often stand in line to receive cash wages, which cuts into their productive or personal time.
• Disempowering: Women have less control over their wages when they are paid in cash.

BSR is therefore partnering with supporters to digitize wage payments for low-income workers in global supply chains.

• We work directly with employers to support their transition from cash to digital payroll, allowing workers to receive their wages instantly and transparently into a formal account.
• We provide factory management and workers with training based on the HERfinance methodology to ease their transition to digital wages.

Learn More

—Mosammot Lucky