PayNearby highlights growing digital payment use among rural women

PayNearby has released the sixth edition of the PayNearby Women Financial Index (PWFI) 2026, which examines financial behaviour among women in rural and semi-urban areas of India.

The report finds that 38% of women in these regions use Unified Payments Interface at least once a week, mainly for routine expenses such as groceries, utility bills and mobile recharges. It also highlights saving habits among women, with 85% of respondents stating that they are the primary savers in their households.

The findings are based on a survey of 10,000 women agents who provide digital and financial services across rural and semi-urban communities. The study examines how women customers access financial services and how assisted service models contribute to adoption beyond basic transactions.

Growing Engagement with Savings and Investment

The survey indicates increasing awareness of investment and asset-linked products among women when guidance is available at local service points. Around 44% of respondents expressed interest in investing in gold-based savings products through small-ticket systematic investment plans (SIPs), reflecting continued social acceptance of gold as a savings instrument.

Flexible deposit products such as fixed deposits and recurring deposits also show strong interest, particularly when they allow easy withdrawals. Approximately 98% of women surveyed said they would consider saving through such options. By contrast, awareness of mutual funds remains limited, with fewer than 10% of respondents familiar with them.

The report also notes the role of women agents in building trust within communities. Around 78% of women prefer conducting financial transactions through women agents, citing comfort, trust and ease of communication. At the same time, 71% of respondents said they now operate their bank accounts independently, particularly among those aged 18–30 and 31–40.

Cash withdrawals continue to be widely used, helping households manage day-to-day expenses and maintain access to funds. About 54% of respondents prefer biometric authentication methods, including face authentication, for withdrawals. The most common withdrawal amount ranges between Rs 1,000 and Rs 2,500.

Savings, insurance and credit trends

Many respondents reported maintaining small but dedicated emergency savings. However, only 32% said they currently save through formal banking institutions. The most common financial goals include children’s education, followed by medical emergencies and household purchases.

Insurance adoption remains limited but is gradually increasing, with 26% of respondents reporting coverage, mainly in health, life and accident insurance. Around 32% of women agents said they actively assist customers with insurance enrolment in their communities.

The survey also highlights purpose-driven borrowing patterns. Nearly 73% of respondents expressed openness to formal credit, mainly for healthcare costs, children’s education, agricultural inputs, home repairs and small business activities. Gold-backed loans are also emerging as a short-term financing option.

Beyond financial services, community service points are increasingly offering health-related services. About 37% of women reported accessing services such as telehealth consultations, sanitary products and other wellness items. According to the report, this reflects growing awareness of health and hygiene needs alongside financial priorities.

Overall, the findings suggest that women in rural and semi-urban areas are gradually expanding their engagement with financial services, moving beyond basic transactions towards savings, insurance and credit products, often with support from local service agents.