Digital wallets empower women in Karachi’s Korangi through financial independence

KARACHI: The adoption of digital wallets is transforming the way many Pakistanis, particularly women in low-income areas, manage their finances. For Samina Begum, a 34-year-old tailor living in Korangi, the shift from cash payments to receiving her earnings through a mobile wallet marked a significant change in her daily life.

Previously, Samina received her tailoring payments in cash, which she would hand over to her family. Now, with her earnings deposited directly into an account registered in her name and accessible only via her personal identification number, she experiences a new sense of autonomy. “It feels different. I used to give the money to them. I now choose when and how much to take out,” she said.

The use of digital financial services is expanding rapidly across Pakistan. Millions have joined the formal banking sector through mobile wallets operated by companies such as JazzCash and Easypaisa. According to the State Bank of Pakistan, the growth of branchless banking has significantly boosted account ownership, especially among low-income women.

While these changes may appear technical, they are having a profound impact within households. The ability for women to control their own finances is subtly shifting long-standing gender dynamics. The move towards digital wallets is not just about convenience or technology; it is also about empowerment and increased agency for women like Samina, who can now make independent decisions regarding their earnings.

As digital financial services continue to grow, experts note that the impact extends beyond financial inclusion. The shift is fostering greater independence for women and gradually altering traditional power structures within families. The State Bank’s data highlights the role of mobile wallets in bringing more people, particularly women, into the formal financial system, marking a significant step towards greater financial equality.