India boasts a vibrant and fast growing economy with sophisticated banking and technology sectors. Nevertheless, most banks are not highly motivated to use branchless banking because they generally see branchless banking as a corporate social responsibility with limited-to-nonexistent business potential.
Mexico’s financial sector is beginning a significant transformation that is setting the stage for a broader commercial offering that would reach lower income segments of the population through innovative products.
Although Pakistan’s population exceeds 170 million,it is estimated that there are only 16 million individual bank accounts, meaning that the vast majority of the population is without access to banking services.
CGAP's Branchless Banking Database combines data from the CGAP Technology Program’s field work on agents, business models, customer adoption, and regulation with other sources, such as data on banking access in 168 countries from CGAP and the World Bank’s Financial Access 2010 report, mobile penetration from Wireless Intelligence, and population and income from the World Development Indicator's database.
Pakistan is becoming a laboratory for G2P payment innovations. This report by CGAP discusses the G2P payments sector in Pakistan and demonstrates how social transfers can help bring poor people into the formal financial system.
The rate of mobile money (MM) adoption among poor people remains low. However, the mechanisms driving adoption are similar to those of other segments. This analysis revealed that social networks and social interactions influence mobile money uptake.
This paper addresses options MFIs have to leverage m-banking; experiences of MFIs that have served as agents for m-banking ; benefits for MFIs and their customers; why some MFIs hold off on m-banking; and new innovative microfinance business models.