PayNearby in association with the Reserve Bank Innovation Hub (RBIH) releases a Report on financial consumption by women at retail stores


Mumbai, March 06, 2023: In an interesting insight, PayNearby, India’s leading branchless banking and digital network, today said that more than 10,000 women entrepreneurs have dispensed over ₹900 crores of financial services in the last financial year. 

The report further highlighted that more than 76% of female customers, who availed basic banking services at PayNearby’s retail outlets preferred biometric authentication as a mode of cash withdrawal. 

Interestingly, cash which dominated the payment space among women in FY 2021-22, still continues to hold strong, with around 48% of women saying they preferred dealing in cash. Aadhaar-led transactions and UPI QR too have gained momentum. Cards continue to have minimal presence in this segment.

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