Financial Inclusion in Action

Read, Share, and Discuss

Real and Perceived Risk in Indian Digital Financial Services

Header3c

The risks associated with digital financial services (DFS) are varied and a growing area of attention and assessment. At the same time, digital payments and broader digital financial services introduce added complexity, with new participants constantly entering the market, new products regularly introduced, and value-chain dynamics in constant flux. In MicroSave’s recent research for the… Continue reading

Over the Counter (OTC) Money Transfer in India: Mapping the Customer Experience (CX)

Header3c

In our previous blog, OTC Money Transfer in India: The Remittance Silver Bullet for Migrants, we explained how OTC remittances work in India, and described the typical transactional processes. In this blog, we map the customer’s experience (CX) while conducting OTC transactions. To understand the real experience of customers, MicroSave staff posed as customers, visited… Continue reading

Over the Counter (OTC) Money Transfer in India: The Remittance Silver Bullet for Migrants

Header3c

“Ready money is Aladdin’s lamp”― Lord Byron Globally, mobile money services are being offered primarily over the counter (OTC). This underlines the demand for readily available, quick and convenient fund transfer services. For instance, 90% of WING’s transactions in Cambodia, 70% of EasyPaisa’s transactions in Pakistan, and 50% of bKash’s transactions in Bangladesh are OTC based. Due to… Continue reading

Time for Action! Customer Service, Protection and Trust in Indian Digital Financial Services

Header3c

Gayatri Devi lives in Ghumka village in Chhattisgarh. She takes care of an extended family of eight. Her husband works in a cloth mill in Gujarat, and comes home once in 6 months. He sends money every month for household expenditures, some of which Gayatri deposits at the agent point in her village. Women are… Continue reading

Role of Bank Mitrs in Direct Benefit Transfer Ecosystem: Are Banks and Government Ignoring Their Brand Ambassadors?

Header3c

The direct benefit transfer (DBT) programme is an important and far-reaching initiative of the Government of India. The successful rollout of DBTL (DBT for subsidy transfer of domestic LPG) could save Rs. 7,700 crore (USD 1.167 billion) for the government. This is about 38% of subsidy budget of Rs. 20,000 crore (USD 3.01  billion) for… Continue reading

Solving Customer Service Issues in Digital Finance – Can Do, Must Do

Header3c

There is a growing interest in, and appreciation of the importance of, customer service in digital financial services (DFS), for reasons explained highlighted in the previous blog in this series  (See “In Our Digital Financial Service We Trust?”). GSMA recently released a code of conduct for mobile money service providers. CGAP is also playing a… Continue reading

In Our Digital Financial Service We Trust?

“We keep hearing mobile money users complain about unstable network, delayed service, missing money and many other negative comments about mobile money. Why then should we register for these services?” After years of preoccupation with over-coming the core challenges of establishing large-scale, sustainable digital finance (largely mobile money) systems in developing countries, we are seeing… Continue reading

Bending the Rules for Better Customer Service is probably a Good Thing

Header3c

Recently, a team of qualitative researchers interviewed sixty mobile money agents and users in Kenya and Uganda to understand the drivers of important behaviours like non-compliance.  The findings were intriguing since it was clear that the driver of agents breaking some rules and regulations was their ambition to provide excellent customer service and thus increase… Continue reading