Paper
Cost and Willingness to Pay
Understanding business correspondents services in rural areas
12 pages
CWP is a study conducted by MicroSave in the states of Rajasthan, Tamil Nadu and Uttar Pradesh. This multi-region study focuses specifically on the services business correspondents provide in rural areas - and whether or not this particular customer segment thinks the greater convenience and other potential benefits are worth paying for.
Some of the key findings are:
- Close to 70% of study participants indicate willingness to pay for BC services;
- Bank transactions are difficult for most respondents;
- Travel to and from the branch, direct and indirect costs incurred, wait time while there, literacy barriers, poor IT and other back-office support, and unhelpful bank staff are the reasons they cite for preferring the local and more personalised convenience of business correspondents.
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