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Global fashion brand H&M group joins our Alliance on International Women’s Day
Today's theme for International Women’s Day is about women's economic participation. Evidence is growing that connecting women to financial services through digital payments is a powerful way to contribute to the Sustainable Development Goals.

H&M Group Becomes First Global Fashion Brand to Join our Alliance

H&M announced today it will encourage suppliers to pay their workers using mobile money or other forms of digital payments as part of its commitment as the Alliance’s newest member. The company said digital payments “offer a faster, safer, and more transparent way to receive their salary, increase financial inclusion and support women’s economic independence” 

Learn more

Study: Digitizing Wage Payments in Bangladesh’s Garment Production Sector

Women make up 80 percent of the 4.4 million people in Bangladesh who work in the ready-made garment industry. We commissioned a World Bank survey of around 50,000 workers at 21 garment factories that have shifted wage payments for workers from cash to digital. Our findings? Factories have realized significant gains in time and money thanks to a more streamlined and secure payroll process, and the workers themselves now have bank accounts and greater control over their financial lives. 

Read the study

Why Women Workers and Managers Prefer Electronic Wage Payments in Bangladesh

When garment factories shifted to paying their workers—mainly women—electronically, many workers were resistant to the change. Today, however, they say they are satisfied, and find the new payroll system safer and more convenient.

Read the blog by World Bank’s Leora Klapper

How Digital Payments Are Connecting People With Opportunities To Improve Their Lives

Transitioning to digital payments can play an important role in creating opportunities for people to realize their full economic and social potential, including women. For example, in 2014 the Government of Peru began depositing social benefits directly into the savings accounts of poor, rural women. Within two years the women increased their asset base along with their bargaining power within the household.

Read the blog co-authored by Carolina Trivelli, Chairwoman of Pagos Digitales Peruanos, and Ruth Goodwin-Goren, our Managing Director.

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