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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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Latin America’s Fintech Rebels Declare War on Inflation
A frustrated 49 percent of the region’s population and many small- and medium-size businesses are outright excluded from traditional financial services, according to the Inter-American Development Bank (IADB). Others, who have access, don’t even bother using the system because of decades of broken promises.
- Categories
- Finance
- Region
- Latin America
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Uber rival Go-Jek drives payments push with acquisition of three fintech start-ups
Go-Jek said the acquisition move would bolster its activity in both online and offline payments, as well as increase engagement in the financial services in Indonesia. Go-Jek's mobile payments service Go-Pay is one of the most popular payment platforms in Indonesia.
- Categories
- Finance
- Tags
- digital payments, fintech
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Perspective: A Digital Finance Prescription for Universal Health Coverage
There are some obvious opportunities for financial services to play a role in achieving universal health coverage. Savings accounts can help people plan for health expenses, access to credit can mean the difference between getting needed care and not, and insurance can help mitigate against health shocks that too often push people deeper into poverty. Offering these products to low-income customers is traditionally risky and expensive, but that picture is quickly changing with the growth of digital financial services (DFS), which leverage digital channels to reach more remote customers at lower cost.
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- Finance, Health Care
- Tags
- digital finance, fintech, SDGs
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Beyond the Bubble: What’s Cool, Potentially Cool, And Clearly Not Cool About Bitcoin in Financial Inclusion?
Bitcoin owners are laughing all the way to the (virtual) bank: The cryptocurrency’s value has gone up over 2,000 percent in the past year. But along with concerns about a likely "market correction," this has raised some pressing questions about its value as a tool for financial inclusion. Ignacio Mas explores Bitcoin's potential on that front, offering four points to consider.
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- Finance, Investing, Technology
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Press release: Moneyfellows wins MetLife Foundation Financial Innovation Competition powered by Verb, Secures $50,000 Grant
The competition was open to entrepreneurs, businesses and non-profit organizations and aimed to discover innovative solutions to promote financial capability and access to financial services. With more than 30 entries, Moneyfellows won the grand prize and collected a grant of $50,000.
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- Finance
- Region
- North Africa & Near East
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Fintech Listed as Emerging Risk to Financial Stability in Report
“Fintech risk, which was included in this survey for the first time, was acknowledged as a significant source of risk by 15 percent of respondents,” the authors wrote. “Generally recognized as holding great promise, these results demonstrate a growing awareness of potential emerging risks, highlighting the need to evaluate both risks and rewards associated with fintech initiatives.”
- Categories
- Finance
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Four Ways to Tackle Weak Competition in Digital Financial Services in Emerging Markets
Everyone loves a digital finance success story - but what happens when a firm's dominance gets out of hand? That's the issue in many emerging economies, where powerful players and extreme consolidation have raised the risk of abuses of market power. Simone di Castri and Ariadne Plaitakis of BFA suggest four ways policymakers and regulators can level the playing field.
- Categories
- Finance, Technology
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