Savers, planners, and entrepreneurs: Banking the Unbanked in Mexico
Date Posted: Tuesday, May 29, 2012
Mexico has 27 million households. Twenty-two million of them are low income. Even though banks reach them physically, almost none of these people choose to use bank accounts to manage their money. In this 8-minute film CGAP’s Xavier Faz talks with five low income Mexicans about their day-to-day money management strategies to better understand the kinds of financial products that would meet their needs. He finds some clear patterns in the way low income people manage their household finances: “If you just look at income,” he says, “you’re completely missing the point of who these people are and the kinds of products they would find valuable.”
Please visit the following link for more detailed information on CGAP’s recent Brief concerning Market Segmentation in Mexico.