An estimated 718 million recipients in developing economies are enrolled in cash transfer programs, more of which are going digital. This has not necessarily equaled greater financial inclusion. ISPA's Social Protection Payment Delivery Tool looks to make digital transfer programs more inclusive.
Envisioned as a digital revolution for government transfers, India's Direct Benefit Transfer program transfers government benefits into recipients' bank accounts. Three years in, the government continues to face challenges in digitizing transfers. Is there a way forward?
Two years ago, India launched a national financial inclusion program known as Pradhan Mantri Jan Dhan Yojana (PMJDY) which aims for at least one bank account for every household. Has there been any real impact of PMJDY on financial inclusion?
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.
Digitization of government-to-person (G2P) payments should be a financial inclusion “quick win,” but negative experiences with digital social payment programs sometimes have the adverse effect of steering low-income customers away from formal financial services. This doesn't have to be the case.
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.