Brazil is seen as a global leader in branchless banking and as an example of how banks have created wide-reaching branchless channels that use cards and point-of-sale (POS) devices at various retail locations.However, challenges remain.
The story of National Payments Corporation of India sheds light on the quick and robust transformation of India’s payment systems. The lessons learned from the NPCI success story can be useful for policy makers in financial inclusion and other markets.
Based on pilots with 18 fintechs across Africa and South Asia, this paper identifies emerging fintech innovations with potential to improve the lives of the poor. It also highlights common challenges faced by early-stage fintechs.