Mobile money was ‘crucial’ for low-income countries during the pandemic – IMF
Data shows mobile and internet banking transactions grew for all income levels
Digital payment methods ensured vulnerable people still had access to financial services during the pandemic, according to a report from the International Monetary Fund.
The fund’s latest Financial Access Survey showed mobile money usage increased significantly in low- and middle-income countries in 2020.
On average, mobile money transactions as a share of GDP increased two percentage points for low- and lower-middle income countries, the report says.
Unlike middle- and high-income countries
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Financial inclusion
IMF tracks sharp rise in deposit accounts in emerging economies
Latest survey highlights inclusion trends in bank accounts, card usage and digital services
Financial literacy quickens monetary policy reaction – study
Improving people’s knowledge of money matters could strengthen transmission
How to increase the impact of financial literacy initiatives
As surveys show financial literacy outcomes falling short, Pedro Duarte Neves distils key lessons
Banks begin tailoring offers to Gen Z’s needs – MNB report
First “fully digital” generation expects 24/7 digital payments solutions
Informal labour reduces financial inclusion – BIS research
Study of data in Peru suggests large informal economies create obstacles to development
Sexual orientation impacts financial wellbeing – Fed research
Gay, lesbian and bisexual people “significantly more financially vulnerable than previously understood”
Syrian central bank says lenders must expand bank accounts
Citizens need accounts to receive cash transfers as government cuts subsidies
New measurement shows ‘historically high’ Canadian financial stress
Financial fragility is concentrated among renters and some mortgage holders, paper says