KARACHI
\nA compassionate approach to the financial needs of persons with disabilities, supported by innovative technology solutions, has the potential to address the needs of the most vulnerable members of society across the Middle East and Africa, according to the latest white paper from Mastercard.
\nThe study, Bridging the Disability Gap: An Opportunity to Make a Positive Impact, reveals that digital inclusion is the pathway to financial inclusion for persons with disabilities. As governments adopt and prioritize policies to improve accessibility of services, this paves the way for public and private sector financial institutions, mobile network operators (MNO), fintech providers, and other organizations to develop and apply solutions.
\nUmar Hashmi, Vice President, Global Product and Engineering, Mastercard, said: \u201cAt Mastercard, we are a purpose-driven organization and put into practice our belief in \u2018doing well by doing good\u2019. Diversity, equity, and inclusion are part of who we are, and we bring this to life by deploying products, services, and partnerships that are aligned with the 2030 Agenda for Sustainable Development and the 17 Sustainable Development Goals (SDGs), based on \u2018leaving no-one behind\u2019.\u201d
\nAccording to the latest available data, one billion people, or 15% of the world\u2019s population, experience some form of disability, constituting the largest minority group in the world. Types of disabilities include visual, hearing, speech, mobility, cognitive, and psycho-social.
\nA combination of physical constraints in accessing financial institutions and services prevents many persons with disabilities from banking independently. Depending on the type of disability, this includes being unable to travel to and enter a financial institution, branch, or ATM, not perceiving and understanding what is written on paper or electronic devices, being unable to hear, understand, and communicate with banking service providers, and being unable to access paper or digital content.
\nThe paper includes real-life case studies of persons with disabilities having to depend on others to perform simple financial tasks. One interviewee said: \u201cYou should be able to access financial services in privacy; no one should know the details of your banking transactions, your balance, and how much you are spending.\u201d Others spoke about how access to services digitally would make a significant difference to their financial independence.
\nA 2019 UN report cites data that show persons with disabilities consider 28% of banks in developed countries, and between 8% and 64% banks in some emerging economies, to be inaccessible.
\nAccording to the Mastercard white paper, in the Middle East and Africa, using digital inclusion as the pathway to financial inclusion for persons with disabilities must involve reducing the gap in smartphone ownership, mobile internet usage, and digital literacy.
\nApproximately 63% of the world\u2019s population is now online since the pandemic. Research in select low- and middle-income countries in the Middle East and Africa shows that, despite a large mobile disability gap, widening at each stage of the user\u2019s journey, 62% of adults with disabilities own mobile phones and 21% own smartphones.
\nThe emerging technologies of the Fourth Industrial Revolution \u2013 such as artificial intelligence, machine learning, robotics, and the internet of things \u2013 have the potential to be delivered through apps and web-enabled services. This makes it possible to address the accessibility gap in financial services.<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI A compassionate approach to the financial needs of persons with disabilities, supported by innovative technology solutions, has the potential to address the needs of the most vulnerable members of society across the Middle East and Africa, according to the latest white paper from Mastercard. The study, Bridging the Disability Gap: An Opportunity to Make […]<\/p>\n","protected":false},"author":2,"featured_media":263713,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[1220,4724,91],"class_list":{"0":"post-263696","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-disabilities","9":"tag-financial-inclusion","10":"tag-technology"},"yoast_head":"\n