The Latest Diversity In The Payments Industry Statistics Explained
The payments industry is dominated by men, with only 30% of the employees being women Globally.
The statistic suggests that there is a significant gender imbalance within the payments industry on a global scale, with men comprising the majority of the workforce at 70% compared to women at only 30%. This imbalance indicates a lack of gender diversity within the industry, potentially resulting in fewer opportunities for women to enter and advance in payment-related roles. This imbalance may also indicate underlying systemic issues such as unequal access to opportunities, biases in hiring and promotion practices, or cultural barriers that hinder women’s participation in the industry. Addressing this gender disparity is crucial not only for fostering a more inclusive and equitable work environment but also for leveraging the diverse perspectives and talents that women bring to the payments industry.
Gender pay gap in the FinTech sector, including payments, is 22% higher than the national average in the UK.
The statistic is stating that within the Financial Technology (FinTech) sector, specifically focusing on payments, there is a gender pay gap that is 22% higher than the national average in the UK. This suggests that women working in the FinTech sector, particularly in payment-related roles, are experiencing a significant disparity in pay compared to their male counterparts. The fact that the gender pay gap in this sector is notably higher than the national average indicates a concerning level of inequality and potential gender-based discrimination in terms of compensation. This statistic underscores the need for closer examination and addressing of gender pay disparities within the FinTech industry to promote fairness and gender equality in the workplace.
Only 12% of payment provider CEOs globally are women.
The statistic indicates that the representation of women in leadership positions within the payment provider industry is significantly low, with only 12% of CEOs being female on a global scale. This suggests that there is a gender disparity in this particular sector, where men hold the majority of top executive positions. The underrepresentation of women in leadership roles may be attributed to various factors such as systemic barriers, cultural biases, and lack of opportunities for career advancement for women in the industry. Addressing these challenges and promoting gender diversity and inclusion in payment provider companies can lead to a more balanced and equitable representation of leadership positions.
In Asia and Pacific, only 19% of payment companies have women CEOs.
The statistic “In Asia and Pacific, only 19% of payment companies have women CEOs” indicates that there is a noticeable gender disparity in leadership positions within the payment industry in the Asia-Pacific region. This data suggests that women are significantly underrepresented in top executive roles, with only a minority of payment companies being led by female chief executive officers. The low percentage of women CEOs highlights a potential lack of gender diversity and inclusion within these companies, pointing towards potential barriers that women face in advancing to leadership positions in this particular industry. Addressing this disparity may involve initiatives to promote gender equality, diversity, and inclusion in hiring and promotion practices within payment companies in the region.
In a survey by PwC, only 3% of respondents from the payments industry rated their organization as very effective at identifying diverse talent starting from recruitment.
In a survey conducted by PwC, it was found that only 3% of respondents from the payments industry rated their organization as very effective at identifying diverse talent starting from recruitment. This statistic highlights a significant gap in diversity representation within the industry’s workforce, particularly in the recruitment process. The low percentage suggests that companies in the payments industry are struggling to attract and retain diverse talent, which can have implications for innovation, employee satisfaction, and overall business performance. Addressing this issue is crucial for organizations to create a more inclusive and diverse work environment that can help drive success and sustainability in the long term.
Racial diversity in payments is also lacking, with non-white executives making up only 10% of the executive teams in the top 10 US payments companies.
The statistic highlights a lack of racial diversity in the executive teams of the top 10 US payments companies, with non-white executives representing only 10%. This suggests a significant underrepresentation of minority groups at the highest levels of leadership within the industry. Such lack of diversity can have far-reaching implications, including limited perspectives and experiences influencing decision-making processes, potential disparities in opportunities and advancement for individuals of different racial backgrounds, and a need for increased efforts towards creating a more inclusive and equitable workplace environment within the payments sector. Addressing and improving racial diversity in leadership positions is crucial for fostering innovation, ensuring fair representation, and promoting overall organizational success and sustainability.
According to PwC, 63% of people within the payments industry would like to see more diversity.
The statistic “According to PwC, 63% of people within the payments industry would like to see more diversity” indicates that a significant majority of individuals working in the payments industry express a desire for increased diversity within their field. This suggests that there is likely a perceived lack of diversity within the industry and a recognition of the benefits that a diverse workforce can bring. The statistic underscores the importance of promoting inclusivity and representation within the payments sector to foster a more inclusive and equitable work environment, as well as potentially improve innovation and decision-making processes through varied perspectives and experiences.
The Women Tech Network study found that 31% of the global fintech workforce, including payments, consists of women.
The statistic from the Women Tech Network study states that 31% of the global financial technology (fintech) workforce, which includes areas such as payments, is made up of women. This finding highlights the gender diversity within the fintech industry, showing that nearly a third of the workforce is female. The presence of women in fintech is significant as it promotes inclusivity and diversity in a traditionally male-dominated sector, potentially leading to a wider range of perspectives and ideas. Despite making up a sizeable portion of the workforce, there may still be disparities in roles, leadership positions, and opportunities for women in fintech, emphasizing the importance of initiatives to further promote gender equality and representation within the industry.
85% of companies in the global payments ecosystem have less than 25% of female representation in leadership roles.
The statistic “85% of companies in the global payments ecosystem have less than 25% of female representation in leadership roles” highlights a stark gender disparity in leadership positions within the industry. This data suggests that a significant majority of companies in the global payments sector have a disproportionately low number of women occupying top leadership roles, with less than a quarter of these positions held by females. This imbalance points to systemic barriers and challenges that women may face in advancing to leadership positions within these organizations. Addressing this underrepresentation of women in leadership roles is crucial for achieving gender equality and diversity in the workplace, as well as for fostering a more inclusive and equitable payments ecosystem.
The global gender pay gap in the FinTech sector including payment industry is around 14%.
The statistic stating that the global gender pay gap in the FinTech sector, including the payment industry, is around 14% indicates that, on average, women in these industries earn 14% less than men for similar work. This gap underscores ongoing disparities in pay based on gender within the finance and technology sectors, highlighting an issue of gender inequality that persists in many workplaces worldwide. This statistic suggests that despite advancements in the FinTech industry, there is still progress to be made in achieving equal pay for equal work and addressing underlying systemic factors that contribute to gender pay disparities.
In the UK, 35% of those working in the Fintech sector, including the payments industry, are women.
The statistic indicates that in the United Kingdom, 35% of individuals employed within the Fintech sector, which encompasses areas such as financial technology and the payments industry, are women. This means that out of the total workforce in these sectors, about a third are female. The statistic sheds light on the gender representation within these specialized areas, highlighting a notable presence of women but also potentially pointing towards an existing gender imbalance. It indicates a trend towards increasing diversity and inclusion within the financial technology sector, while also suggesting room for further improvement in ensuring equal opportunities for women in this field.
In Africa, only 30% of C-suite roles at fintech companies, including those in the payments industry, are occupied by women.
The statistic reveals that in Africa, women hold only 30% of the top executive roles within fintech companies, specifically in the payments industry. This imbalance highlights a significant gender disparity in leadership positions within the financial technology sector on the continent, where women are underrepresented in high-level decision-making roles. The low representation of women in C-suite positions may indicate systemic barriers to gender equality in the industry, such as limited access to opportunities for career advancement, biased hiring practices, or cultural norms. Addressing this disparity and promoting diversity and inclusion initiatives could help foster a more equitable and dynamic leadership landscape in African fintech companies.
In the US, the racial and ethnic diversity in Fintech workforce including the payments industry got stuck at 34% in 2020.
The statistic indicates that in the United States, the representation of racial and ethnic diversity within the Fintech workforce, specifically in the payments industry, remained stagnant at 34% in 2020. This suggests that despite efforts to promote diversity and inclusion within these sectors, progress in increasing representation has reached a plateau. The statistic may imply that there are persistent barriers or challenges hindering further advancement in diversifying the workforce, highlighting the ongoing need for targeted initiatives and strategies to address systemic inequalities and promote a more inclusive environment within the Fintech industry.
In an Avion report, The employee demographic of the fintech industry, including the Payments industry in the UK, was calculated to be 81.9% white, 11.5% black, 2% mixed and 4.6% Asian.
In the Avion report on employee demographics in the fintech industry, particularly the Payments sector in the UK, it was found that the workforce is predominantly composed of white individuals, making up 81.9% of the total workforce. Black individuals accounted for 11.5% of the workforce, while those of mixed race and Asian descent comprised 2% and 4.6%, respectively. These statistics provide a snapshot of the racial diversity within the fintech industry in the UK, highlighting underrepresentation of certain racial groups and suggesting potential areas for improvement in promoting diversity and inclusion initiatives within these sectors.
Only 6% of Fintech directors in the payments industry globally are women.
The statistic that only 6% of Fintech directors in the payments industry globally are women indicates a significant underrepresentation of women in leadership roles within the Fintech sector. This disparity may reflect broader challenges faced by women in entering and advancing in male-dominated industries, as well as potential barriers such as gender bias, limited networking opportunities, and unequal access to resources and opportunities. Addressing gender diversity and promoting inclusion in Fintech leadership is not only a matter of equity but also essential for fostering innovation, driving business success, and ensuring a more diverse and representative industry that can better cater to the needs and perspectives of a diverse customer base.
References
0. – https://www.www.paymentsource.com
1. – https://www.www.altfi.com
2. – https://www.thedigitalbanker.com
3. – https://www.www.fintechmagazine.com
4. – https://www.www.womentech.net
5. – https://www.thefintechtimes.com
6. – https://www.www.pwc.com
7. – https://www.www.forbes.com
