Transcription of DIGITAL FINANCIAL SERVICES - World Bank
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DIGITAL FINANCIAL SERVICES - World Bank
DIGITAL FINANCIAL SERVICES April 2020 Ceyla Pazarbasioglu, Alfonso Garcia Mora, Mahesh Uttamchandani, Harish Natarajan, Erik Feyen, and Mathew Saal Foreword Access to affordable FINANCIAL SERVICES is critical for poverty reduction and economic growth. Countries with deeper, more developed FINANCIAL systems have higher economic growth and larger reductions in poverty and income inequality. For poor people, access to and use of basic FINANCIAL SERVICES can improve incomes, increase resilience and improve their lives. Women especially benefit. Far too many people 65 percent of adults in the developing World lack access to even the most basic transaction account that would allow them to send and receive payments safely and easily, much less the savings, insurance, and credit SERVICES that would help them expand their businesses, mitigate risks and plan for their futures.
the use of mobile money - permit remote payments and transactions, enabling the social distancing recommended to reduce contagion. Through electronic payments, consumers can transfer funds, pay bills and pay for goods and services from their home, or in a market or store setting, with limited physical contact.
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