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Digital credit has shown considerable success in Kenya and is expected to provide opportunities for individuals excluded from formal loans because of their lower socioeconomic status. However, evidence supporting the greater positive impact of digital credit on financial inclusion than that of traditional loans is lacking. This study employs a multinomial logistic regression to investigate the impact of digital credit services, particularly mobile banking and FinTech loans (MBLs and FTLs), on financial inclusion in Kenya. MBLs appear to be less accessible to vulnerable populations, such as women, low-educated groups, and casual workers although both MBLs and FTLs are equally accessible to rural populations. In contrast, FTL services show no such constraints in terms of accessibility for women and low-income workers. This disparity indicates the relative inaccessibility of MBLs to vulnerable groups compared to that of FTLs; however, note that greater loan access does not always benefit vulnerable groups. [ABSTRACT FROM AUTHOR]

This study investigates the determinants of gender disparities in financial inclusion in Pakistan using Global Findex 2021 survey data. We aim to quantify gender gaps in financial access and use, and to analyze the socio-economic factors influencing these disparities. Grounded in Sen’s capability approach and behavioral economics, we employ logistic regression to examine how gender influences the ownership and usage of financial products. Our results reveal significant gender gaps: only 13% of Pakistani women have financial accounts compared to 34% of men, with similar disparities in digital finance. Socio-economic variables like education, income, and employment are found to influence financial inclusion differently for men and women. While generally supportive of financial inclusion, these factors have a weaker effect for women, suggesting deeper societal barriers. This study adds to the global financial inclusion discourse by providing a comprehensive analysis of gender disparities in Pakistan. Our findings highlight the need for gender-sensitive policies that address these disparities to achieve Sustainable Development Goals related to gender equality and economic empowerment. [ABSTRACT FROM AUTHOR]

AbstractDuring the coronavirus 2019 (COVID-19) pandemic, many countries worldwide were encouraged to use FinTech products and warned people not to use cash to fight against the spread of the coronavirus. Despite the immense encouragement for citizens to conduct financial transactions by using FinTech services as an alternative to traditional banking transactions to reduce the cases of physical interaction between individuals and institutions, the level of adoption of these services is still below expectations in some countries even in the post-COVID-19 pandemic era, as in the case of Jordan. Therefore, the main purpose of the current study is to explore the antecedent factors that directly influence FinTech usage, which in turn affects continuance intention to use FinTech products in the post-COVID-19 era by integrating the Protection Motivation Theory (PMT) and Technology Acceptance Model (TAM) with other much-related factors. To achieve the above-mentioned purpose, a quantitative research method with an online questionnaire was used to collect and analyse data gathered from 361 users of FinTech products. Finally, the results revealed that most of the proposed hypotheses were accepted except hypothesis 4 was rejected. Nonetheless, perceived susceptibility of COVID-19 was found to be the most important factor contributing to the usage of FinTech products in the post-COVID-19 era. [ABSTRACT FROM AUTHOR]

This study explores and analyses the implications of digital financial services (DFS) on human development from a global perspective. Informed by a systematic literature review of studies published in the past two decades, from 2000 to 2020, this research unveils six overarching themes: contextual conditions, technological skills and financial literacy, consistent trust, shaping financial behavior, energizing economic activities, and supporting financial inclusion. Further analysis categorizes these themes into what constitutes the two intertwined dimensions of DFS: foundational conditions and effectual repercussions. We discuss how these dimensions enhance our understanding of the role information and communication technologies play in contributing to human development. We also present practical implications for different stakeholders in the financial sector. [ABSTRACT FROM AUTHOR]

Background: This document describes two qualitative programmatic case studies documenting experiences implementing digital financial services (DFS) for health with a focus on expanding access to universal health coverage (UHC). The CBHI 3MS system in Rwanda and the i-PUSH and Medical Credit Fund programs in Kenya were selected because they represent innovative use of digital financing technologies to support UHC programs at scale. Methods: These studies were conducted from April-August 2021 as part of a broader digital financial services landscape assessment that used a mixed methods process evaluation to answer three questions: 1) what was the experience implementing the program, 2) how was it perceived to influence health systems performance, and 3) what was the client/beneficiary experience? Qualitative interviews involved a range of engaged stakeholders, including implementers, developers, and clients/users from the examined programs in both countries. Secondary data were used to describe key program trends. Results: Respondents agreed that DFS contributed to health system performance by making systems more responsive, enabling programs to implement changes to digital services based on new laws or client-proposed features, and improving access to quality data for better management and improved quality of services. Key informants and secondary data confirmed that both implementations likely contributed to increasing health insurance coverage; however, other changes in market dynamics were also likely to influence these changes. Program managers and some beneficiaries praised the utility of digital functions, compared to paper-based systems, and noted their effect on individual savings behavior to contribute to household resilience. Discussion/Conclusions: Several implementation considerations emerged as facilitators or barriers to successful implementation of DFS for health, including the importance of multisectoral investments in general ICT infrastructure, the value of leveraging existing community resources (CHWs and mobile money agents) to boost enrollment and help overcome the digital divide, and the significance of developing trust across government and private sector organizations. The studies led to the development of five main recommendations for the design and implementation of health programs incorporating DFS. [ABSTRACT FROM AUTHOR]

Summary: Motivation: In recent years, governments in low‐income countries have increasingly introduced taxes on mobile money transfers. These are often explicitly promoted as a way of taxing informal economic activity, but critics have noted their potential negative impact on lower‐income groups and specifically those in the informal sector. Yet there is virtually no evidence base on the effects of mobile money taxes on informal workers. Purpose: This article assesses how informal workers in Accra, Ghana, use mobile money and how they perceive Ghana's Electronic Transfer Levy (E‐levy), introduced in May 2022. This provides a particularly interesting case study to explore the equity implications of the tax, as the policy was explicitly justified as a way of taxing the informal economy but also includes measures to limit the tax burden on lower‐income groups. Methods and approach: The article uses data from a survey of 2,700 self‐employed informal workers in the Accra Metropolitan Assembly to capture citizen perceptions of the policy and to examine the likely impact of the E‐levy on informal workers with reference to equity. Findings: Overall, our results suggest that the E‐levy is highly regressive. Further, we show that most informal workers disapprove of the E‐levy, reflecting not just concerns about its equity impacts, but also disappointment with the government's performance. Policy implications: Our findings suggest that taxes on digital financial services should be reconsidered from an equity perspective. While some policy measures, including those undertaken in Ghana, can protect low‐income earners, they are often insufficient to counteract overall regressive impacts. Where they are implemented, social spending from the revenue from these taxes should target low‐income populations in the informal economy, while governments should focus on building trust among informal workers with regard to revenue raising and spending. [ABSTRACT FROM AUTHOR]

We used three waves of Financial Inclusion Insights surveys (2013–2016) to examine gender gaps in mobile money (MM) awareness and use across eight low- and middle-income countries. After accounting for socio-demographic factors (age, marriage, literacy, education, employment, income, and financial numeracy) and other enabling factors (mobile phone, formal identification, and bank account), we found no independent association between gender and MM use in established MM markets in Kenya, Tanzania, and Uganda. In contrast, in emerging MM markets (Bangladesh, India, Indonesia, Nigeria, and Pakistan), significant gender differences in MM use remained. Phone and bank account access had stronger associations with MM use for men than for women in these MM markets, and gender gaps in MM use increased over time. Findings suggest realizing the financial inclusion potential of MM may require a more nuanced understanding of difficult-to-measure and slow-to-change factors – such as legal and social norms – constraining women's MM use. [ABSTRACT FROM AUTHOR]

Digital innovations are transforming financial services and resulting changes in consumer behavior and personal money management. Diffusion of pervasive digital technologies offers individuals quick and easy access to various digital services bringing opportunities and challenges into their personal money management. The study aimed to explore how digitalization affects individuals' financial literacy and financial capability. As a result, we identified three main themes in the intersection of finance and digitalization: Fintech, Financial behavior in digital environments, and Behavioral interventions. We propose directions for measuring digital financial literacy, updates to the financial literacy curriculum, and developments of digital learning tools. Further, we highlight collaboration between the public and private sectors to create a fairer and more inclusive economic landscape. Our study contributes to existing research by proposing a framework for digital financial literacy and financial capability and a research agenda for future studies. [ABSTRACT FROM AUTHOR]

One of the predominant challenges facing banks in low resource countries is the management of Digital Financial Services (DFS) risks. Many banks are making worthwhile efforts to boost the factors that make them come on top of the challenges, unfortunately they have fallen short. This article sought to develop an e-risk management framework for DFS in ugandan banks. Design Science Research paradigm, a mono-method qualitative research method and a case study research strategy was adopted. Questionnaires, interviews and document review were the main data collection methods. Findings from this study indicate that banks in uganda use a handful of DFS business models and face a number of DFS risks including; talent for DFS, technology, strategy, governance, product, client acquisition, crime/fraud, regulation, and agent management among others. Notwithstanding, ugandan banks should carefully balance IT spend across customer expectations, improve cybersecurity and internal process and regularly check its IT security. [ABSTRACT FROM AUTHOR]

Digital financial services (DFSs), being financial services accessed and delivered through digital channels, have grown rapidly in South Africa as well as globally. The adoption of the technology for DFSs has led to an increase in financial inclusion, enabling more individuals and businesses to have access to useful and affordable financial products and services, where payments, savings, credit, investment and insurance are included. Through the Financial Sector Regulation Act 9 of 2017 financial inclusion was statutorily enacted for the first time. The regulators are now empowered to insist that financial institutions take proactive steps to expand financial inclusion and can take the necessary steps to enforce these powers. One of the factors that have an influence on whether consumers will adopt DFSs is consumers' perspectives of DFSs. Lack of information and knowledge combined with the cost of data negatively influences the adoption of DFSs. The transfer of information to unbanked people in South Africa with regards to DFSs should be enhanced by the state as it strives to improve financial literacy. DFSs are susceptible to financial crimes like fraud, money laundering, terrorist financing, bribery, corruption and market abuse. The challenges that threaten the interests of customers should be addressed by stricter information verification methods when transacting with clients online. Technological detectors and digital identification should be used more effectively to verify customers and to alert authorities to suspicious transactions. Financial institutions might consider authenticating online transactions by thumb-print or a voice recognition system. This paper emphasises that because of the prospects of greater and deeper financial inclusion in South Africa, the use of DFSs has to be improved and developed and the challenges have to be constructively addressed to unleash the true potential thereof. [ABSTRACT FROM AUTHOR]

Despite the many advantages that mobile money offers to Small and Medium-sized Enterprises (SMEs) relative to traditional banking services, the majority of stakeholders of this platform have not yet maximised its use owing to several concerns not limited to trust, awareness, and even cost. To examine the factors justifying the adoption and usage of Mobile Money Services (MMS) among SMEs, the types of Mobile Money Services used by these SMEs, and the interdependences between these variables, this study adopted an exploratory approach. The researchers elected to use a mixed-method approach, which necessitated the usage of a survey questionnaire and structured in-depth interviews. Representatives of 12 SMEs were interviewed during the qualitative phase to corroborate the 285 SMEs surveyed in the quantitative part of the study. Descriptive and inferential statistics were adopted to analyse the quantitative data using the Statistical Packages for Social Sciences version 26 (SPSS version 26). The researchers described the qualitative data according to themes, and the findings were combined after that. While no single factor was accountable, it emerged that accessibility, safety, and convenience were the main factors that entice SMEs in Douala, Cameroon to embrace mobile money services in the effort to receive money from clienteles, pay suppliers, and purchase airtime for additional transactions (most preferred mobile money services). Furthermore, it was found that there was a statistically significant association between most of the motivating factors cited and the most preferred mobile money services used by SMEs in Douala. These findings validate the role that mobile money plays in promoting the inclusive finance agenda for SMEs, mainly in the context of emerging economies where the majority of people and businesses do not have access to banking services and therefore may be of interest to policymakers and different stakeholders. Furthermore, an identification of the types of mobile money services businesspersons mostly use in Douala, a business hub, may help to develop businesses by directing the stakeholders to agenda items of interest in the context of Cameroon. [ABSTRACT FROM AUTHOR]

The article discusses the highlights of two meetings which are the International Telecommunication Union,Telecommunication Standardization Sector Review Committee (ITU-T RevCom) held in Tunisia in January 2015 and Focus Group-Digital Financial Services (FG-DFS) held in Switzerland in December 2014. Highlights discussed include ITU-T organizational restructure, The DFS workshop, and a session on Terms of Reference (ToR).

Fintech is rapidly changing the financial landscape, especially in the post-COVID era. This study uses data from the world's first global ranking of fintech ecosystems, the Global Fintech Index (GFI) , to investigate the linkages between fintech development and demand for savings, borrowing, and remittances for 16 of the world's largest emerging economies. Our results find a consistently strong and positive relationship between fintech development and financial inclusion. However, considerable heterogeneities persist across population groups and regions. Evidence also suggests that access may not translate to greater usage of financial services. The findings have important implications for future models of financial inclusion looking to harness the power of fintech. • Fintech plays a key role in fostering financial inclusion in emerging economies. • Fintech development is positively associated with saving, borrowing and remittances. • Improvements in fintech translate to greater access, but not necessarily greater usage. • Heterogeneities exist across populations and regions. • Vulnerable groups face barriers to financial inclusion that fintech cannot address. [ABSTRACT FROM AUTHOR]