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Digital Transaction for woman in Asia PDF

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Overview

Digital transactions are on the rise across ASEAN, delivering benefits to consumers, businesses, and governments by contributing to the growth of digital trade and supporting growing industries like e-commerce, e-health, and e-education.

In ASEAN, between 2018 and 2021, the value of digital transactions more than doubled to reach AUD226.8bn. These trends are expected to continue with the total value of digital transactions estimated to grow to AUD455.1bn, at a CAGR of 19% to 2025. Till 2025, digital payments, the largest component of digital transactions, will grow to AUD300bn. Government efforts to encourage cashless transactions have facilitated the transition to digital payments, and their volume continues to soar given the growing reliance on digital devices, channels, and platforms for school, work, and entertainment.

Despite rapid growth, the average penetration of digital payments in the region remains approximately 51%.1 It is even lower among women, who make up a significant portion of the underbanked and underserved population. With limited access to owning an account at a formal financial institution, absence of a legally recognised identity, and low levels of financial and digital literacy, large numbers of women in the region lack access to credit, lending, and saving facilities.

Within this context, this policy brief:

  • Defines the scope of digital transactions;
  • Examines the trends in digital transactions and financial inclusion in the region;
  • Highlight barriers that impede women’s financial inclusion across the region;
  • Assess the development of policies, regulations, frameworks, and initiatives in AMS that impact women’s access, ability (knowledge and skills), and awareness of digital transactions;
  • Examine and highlight successful approaches including through leveraging national, regional, and international frameworks and standards to scale digital transactions for women;
  • Estimate the economic opportunity and impact of closing the gender gap, and enhancing access and adoption of digital transactions for women.
  • Offer recommendations for AMS to expand digital transactions for women and enhance financial inclusion in the region

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