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Making Change on a Mobile Handset: Four IPA studies explore how to make digital financial services more effective and affordable
There are 203 million registered mobile money accounts worldwide and 256 mobile money services in operation. But only 30 percent of registered accounts are used regularly. More rigorous research is needed to maximize the sector’s impact on the poor. To this end, Innovations for Poverty Action is implementing several studies on digital financial services, four of which are discussed in this post.
- Categories
- Education
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Eight Tech and Policy Trends That Will Impact Financial Inclusion This Year
The use of digital financial services will continue to be one of the main drivers for financial inclusion in 2015, says John Owens of the Alliance for Financial Inclusion (AFI). He discusses eight interesting trends AFI has noted - both on the technology and policy sides - that should have a direct impact on advancing financial inclusion through digital means this year.
- Categories
- Technology
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2015 – The Breakout Year for Agriculture Digital Payments?
For digital finance to really expand throughout the developing world this year, it needs greater uptake among the rural poor, says Lee Babcock. To achieve that, the sector must think about how best to strategically insert digital finance into the agriculture value chain. He explores a number of ongoing initiatives that are focused on doing just that.
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- Agriculture
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Cheaper, Faster, Better?: Mercy Corps compares E-transfers and cash in the DRC
International humanitarian agencies are increasingly offering cash and vouchers as humanitarian assistance. But distributing cash carries security risks for agencies and recipients, while presenting accounting and logistical challenges. Electronic alternatives or vouchers could address these issues, but how well do they work? Mercy Corps studied the question in a program in the Democratic Republic of Congo.
- Categories
- Education, Impact Assessment
- Tags
- digital payments, research
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Four Barriers – and Four Solutions – to Financial Inclusion Through Payment Innovations
Enabled by the exponential expansion of mobile phones, social media, “big data” and internet access, financial players throughout the world are inventing new ways to transact. These innovations are especially pronounced in emerging markets, where many new entrants have chosen to dive directly into digital financial services. But in spite of this momentum, some challenges remain.
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- Uncategorized
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Bringing Mobile Money up to Code: GSMA Code of Conduct for providers puts customer experience at the center
Only 17 percent of respondents in CGAP’s recent global survey on consumer risks in digital finance felt that service providers are doing an adequate job of protecting customers. The GSMA’s Code of Conduct for Mobile Money Providers is part of a growing movement to try to change that, with a number of the Code’s eight principles directly addressing key customer concerns.
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- Uncategorized
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Is India approaching a perfect storm in digital financial services?
In the use of digital technologies, financial services in India lag behind other sectors. But a perfect storm may soon come and enable technology-led disruption at a far greater scale.
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- Uncategorized
- Region
- South Asia
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Three Key Steps for Boosting Mobile Money in Nigeria: Grameen Foundation explores ways the struggling sector could reach its potential
As the largest of Africa’s fast-growing economies, Nigeria is a promising market for mobile finance. Yet though almost 57 percent of Nigerian adults have no access to formal financial services, only 0.1 percent actively use mobile money. Grameen Foundation explores the reasons for the stunted growth of mobile services, and outlines some key steps that could increase their adoption and continued use.
- Categories
- Uncategorized
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