Cash as aid offers recipients choice and dignity. The digitization of cash transfers can minimize risks of using cash in crisis environments and provide access to financial services that could help the poorest cope with shocks in the future.
Recognizing the transformative role digital innovation can play in humanitarian response, CGAP, MasterCard and UNCDF co-hosted a high-level panel at the World Humanitarian Summit. How can digital finance work to build a bridge from response to resiliency?
Despite excitement around the promising potential benefits of digital social payments, a new CGAP brief reveals risks and challenges that need to be addressed if DSPs are to achieve their intended outcomes.
Digital social payments (DSPs) are a fast-growing, yet often overlooked, digital financial services (DFS) segment. Acknowledging and addressing the most common and consequential consumer risks should be a priority for any program or provider seeking to unlock the potentials of DSPs for the poor.
There is evidence of a clear tension between the advantages of digital financial services and the risks to customers. This issue will be addressed at the Responsible Finance Forum in Antalya, Turkey, September 7-9, 2015.