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Digital financial services (DFS) have grown considerably in emerging markets and developing economies, where they are instrumental for financial inclusion. DFS supervision needs to ensure that this expansion happens in a way that facilitates sustained, healthy financial inclusion.
This Brief explores the emergence, similarities, and differences between China's Alipay and WeChat Pay and the affects these elements may have on the way they compete in the rural arena.
This diagnostic provides an analysis of the regulatory framework for DFS in Côte d’Ivoire, including its coverage, conducive features, and gaps and obstacles. The paper also offers recommendations on how to address these issues.
This Working Paper explores three approaches banks in Kenya have used to respond to mobile money. While nonbank mobile financial services can fundamentally reshape the financial sector in a developing market, as they have clearly done in Kenya, mobile services need not represent an existential threat to the traditional banking industry.
Customers are turning to formal channels that use digital and mobile technologies for remittances because these are often able to offer services at lower costs. As more customers turn to formal services, remittances will have an even stronger developmental impact, notably in countries where protracted humanitarian crises affect large numbers of people.