Rashmi Pillai

Senior Financial Sector Specialist

Rashmi Pillai contributes to CGAP’s work on resilient rural women at the intersection of agriculture and climate change. 

Rashmi is a global executive with 19+ years of experience in impact investing, digital financial services, inclusive and competitive financial markets development, and financial markets policy and regulation across Africa and South Asia. Previously, she was the Anglophone Head of Public Policy for Wave Mobile Money and contributed to Wave’s operations in its six African markets. Prior to that, she was the CEO at Financial Sector Deepening Uganda (FSDU). Before FSDU, she served as a digital financial services technical expert to two organizations – CGAP, at the World Bank and the Better Than Cash Alliance at the UNCDF across multiple African countries. Rashmi is also the founder of the "Sankalp Forum" – the first major impact investment deal flow platform in India for for-profit social enterprises and took it to scale. The forum has now expanded across Southeast Asia and East Africa. 

Rashmi has a master’s in public policy from Harvard Kennedy School of Government, Harvard University on a Fulbright Scholarship. She also holds another Masters in Spectroscopic Physics from M.S. University Baroda, India.

By Rashmi Pillai

Blog

Merchant Payments: What About the Customers?

Shifting retail payments away from cash to digital instruments will require strong buy-in from end customers, who tend to like cash. How might they be persuaded?
Blog

Merchant Acquiring: Why Winning Is the Wrong Approach

Competition is heating up among digital financial services providers looking to stake a dominant position in the $35 trillion global retail payments market. But this could be a market where cooperation will be as important as competition for success.
Blog

Want Your Customers to Save More? Use Behavioral Economics

A behavioral economics experiment in Tanzania increased customers' savings by up to 11 percent using SMS messages about the balances of better savers.
Blog

Will Digital Payments Unlock Financial Access for Small Business?

Bundling digital payments with services that address common challenges for merchants could expand access to finance for small businesses.
Blog

Agents for Everyone: Removing Agent Exclusivity in Kenya & Uganda

Mobile money and banking agents blend seamlessly into the daily economic lives of consumers in countries like Kenya and Uganda, offering convenience and expanding access points to financial services. But agent exclusivity clauses can limit customers' choices.