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COVID-19 and the Pursuit of Financial Inclusion in Pakistan
When Pakistan implemented a national lockdown in mid-March, economic activity for the world’s fifth most populous country was brought to a halt. In a country where nearly 40% of people live in poverty and more than 24 million workers either earn daily or piece-rate wages or are self-employed, the ensuing economic crisis has hit the population hard.
- Categories
- Coronavirus, Finance, Technology
- Region
- South Asia
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Orange Extends Africa Remittance Links
Orange added Morocco and Burkina Faso to the list of mobile money destinations its customers in France can remit funds directly to, a move it stated would cut consumer costs and increase the speed of transactions between the markets.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Distribute Cash, not COVID-19: Five Ways Policymakers in Sub-Saharan Africa Can Provide Cash Transfers Safely
As COVID-19 spreads around the world, 35 countries have introduced new cash transfer programs in response to the pandemic. Cash is one of the most effective ways to support people during a crisis, say Martin Gould and Nate Vernon at IDInsight. But administering cash transfers in low-income countries can raise some big questions for policymakers. They discuss five ways governments in sub-Saharan Africa can manage these programs safely and effectively.
- Categories
- Coronavirus, Finance
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Amazon, Western Union debut PayCode to sell goods in emerging markets and let shoppers pay in cash
Amazon has partnered with Western Union to set up a service called PayCode, which lets people shop and pay for Amazon items using local currencies that would not have been accepted on the site before, starting with services in 10 countries.
- Categories
- Finance
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Report: Cash Usage Rising In Both Developed, Emerging Markets
Despite predictions that cash is going the way of the dodo bird, a new study by the Bank for International Settlements found that notion is more bluster than reality.
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Most Influential Post Nominee: The UBI Debate: What We Know – and Don’t Know – About Universal Basic Income
Policymakers from Nairobi to Silicon Valley have lately been considering the same approach to reducing poverty: universal basic income (UBI). Evidence from ongoing randomized evaluations will be key to understanding the impact of UBI, and how this disruptive concept might fit into a broader portfolio of social policies. In the meantime, there is much we already know from impact evaluations of related interventions that can help make sense of the debate. Alison Fahey at J-PAL provides an overview.
- Categories
- Uncategorized
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Most Influential Post Nominee: Why the Crusade Against Cash Isn’t Clearly ‘Pro-Poor’ – UPDATED
Many assume that getting rid of cash in the name of financial inclusion would unequivocally be a good thing for the poor. Phil Mader says it's too early to say – and that cash might have insufficiently recognized advantages, including being free to use, anonymous and under public stewardship. And besides, he argues, if the mission is poverty alleviation, it’s not money’s physical form, but how it's distributed, that matters.
- Categories
- Technology
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Going Cashless? Bad for Tax Cheats, Privacy, Poor
Could physical cash go away entirely? Economists see great payoffs in a cashless society: lower transaction costs, new tools to manage economic growth and an end to tax evasion and money laundering. Critics see an end to privacy, frightening new powers for tyrants and costs that would fall disproportionately on the poor.
- Categories
- Technology
- Tags
- cash, fintech, mobile banking, mobile money
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