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Some groups also struggle to identify with banking agents, said Njideka Harry, president of NGO Youth for Technology Foundation.
Timothy Lyman of CGAP says that regulators are getting more comfortable with the idea of banking agents.
Thea Anderson, senior advisor for financial inclusion, Mercy Corps, Washington, DC @mercycorps Harness the potential of banking agents: Liquidity and accountability are key to their success.
Banks in developing countries should also consider what's holding women back from joining the workforce e.g. fear of theft for banking agents who have to travel a lot.
And is closing the gap as simple as employing more women as banking agents, or should efforts be focused on legal barriers in different countries, such as women's property rights?
One product he is testing in India involves collaborating with banking agents to sell "savings cards" in shops, so that saving becomes an active purchase and can compete with other impulse buys.
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Then bank agents tried to talk the customer into refinancing, using the house as collateral.
MFIs are also interested in becoming bank agents, especially in places where they are not legally permitted to take deposits.
Efforts are under way to reach these people with roving bank agents but covering the whole country will take time.
PayFazz works by verifying people to become mobile bank agents.
That's the theory behind PAYFAZZ, which coordinates with banks to create a distributed network of bank agents that can operate from wherever — even their own homes.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com