Mobile phone as Financial Freedom device than entertainment.
Mobile phones’ primary positioning as #FinancialFreedom device than an entertainment tool will push #FinTech and #FinancialInclusion in India and other countries to much extent. Such positioning must be supported with the #Women focused campaign by mobile manufactures. The How and Why…
If mobile device companies can change at least their low-cost mobile phones’ positioning from entertainment to #FinancialFreedom, a lot can change, and we may be able to increase the penetration of mobile in rural and semi-urban locations, especially for women. It will be a win-win profitable situation for all the stakeholders, like Telcos, Banks, Customers and numerous other companies who want to enter the tier 2 onwards market but cannot due to low penetration of mobile phones and hence connectivity and direct accessibility.
Why am I emphasising on the mobile ownership, especially for #Women?
Mobile ownership for women in a family, especially in tier 2 onwards locations is low which hinders with the process to empower them even on an assisted mode. Currently, the same mobile number is shared across the family which is generally owned by any male member (Husband, Son etc), further reducing the ownership of their financial lives.
With Jio moment in the telecom industry where data, call rates, device cost are further reduced has made it relatively easier to own a mobile phone. Also, with government schemes and private entities insisting to link mobile phones with their services have made it mandatory for an individual to own a mobile number and a device. #MicroFinance industry which focuses on women customers will find it easier to share useful information directly with their customers if mobile ownership is increased.
#IndiaStack which is built on the #Consent, #Cashless, #Paperless and #Presence less layers, rely completely on three customer-facing pillars, Jandhan (now any bank account), Aadhaar (Unique ID) and Mobile phone (JAM) for any product design. And none of this JAM and India stack layer will work effectively and smoothly if a resident doesn’t have a #Mobile phone.
Everyone is doing their bit, now if mobile companies can do their bit by changing their phones’ #Primary positioning from entertainment to #FinancialFreedom and #Empowerment keeping women at the forefront of their campaign, a lot can change in India (especially for those who needs financial inclusion the most)
Please share your thoughts..