Extensive and inclusive cash-in/cash-out (CICO) agent networks are key to ensuring DFS access in rural areas. Regulators play an essential role here by enabling DFS providers to innovate agent network models that are sustainable in rural areas.
The rise of DFS has sparked debate on cash's future in developing economies. But, despite increasing adoption of DFS, cash prevails in most global economies, emphasizing agent networks' crucial role as enablers rather than disruptors.
Bancolombia is a great example of a provider that's been successful in developing rural agent business models at scale, therefore playing a critical role in furthering financial inclusion. Here, we look at the factors that explain their success.
Côte d'Ivoire's mobile money market is an excellent opportunity to reflect on whether market disruptions contribute to financial inclusion, given a recent revamp of mobile money business models in the country.
G2P transfer experiments during the COVID-19 pandemic collectively demonstrate the importance of “financial inclusion (FI)-friendly” G2P - intentional architecting and implementation that support active DFS usage beyond an initial payment.
Based on pilots in five countries (Colombia, Cote d’Ivoire, India, Indonesia, Morocco and Pakistan), we share early insights on how funders can engage with stakeholders in Cash-in Cash-out (CICO) rural agent networks to kickstart innovation.
Governments are enrolling the unbanked into the formal financial system at scale in EMDEs, primarily to facilitate government-to-person (G2P) payments, but do all these accounts with funds flowing into them amount to financial inclusion? Not yet.
More than a decade since the rise of digital finance, cash remains popular and the ability for people to move cash in and out of digital systems is still vital to financial inclusion. How can agent networks be expanded to fill this need?
Agent networks are crucial for advancing financial inclusion and other development goals. Here are six ways funders can encourage the expansion of agent networks in rural areas home to many of the world's low-income populations.
In analyzing how to extend the reach and quality of rural cash in/cash out agent networks, we have come to realize that it is critical to apply a gender lens to identify key barriers for women. Here are three basic steps to do so.
In 2017, Zambia introduced a government-to-person (G2P) payments model that lets beneficiaries choose the provider they want to use to receive their payment. Today, the benefits to the recipients, providers and government are clear.
Government-to-person (G2P) programs can reach millions of women. What if instead of requiring women to receive payments from a single provider, they enabled women to select among several options and to reward good service with their business?
As customers, agents and digital financial services providers adjust to COVID-19, it’s becoming clearer what a resilient agent network looks like. Providers should take note to prepare for future crises.
Kenya offers higher fees to providers that facilitate digital government-to-person payments in underserved areas. Today, this makes it easier to reach hundreds of thousands of low-income people with assistance during the COVID-19 crisis.
Digital payments are central to the global COVID-19 response, but the agent networks that distribute these funds are struggling to remain open. Here are three questions policy makers must answer to ensure agents reach as many people as possible.