Financial Inclusion in Action

Read, Share, and Discuss

Learnings from Cash Economy for DFS Providers

Header3c

Shakuntala is a 48-year old housewife, staying with her husband, two sons, their wives and a grandson in Siswan village, Varanasi. Her husband manages all the household expenses. In his absence, she goes to buy groceries at times. She, however, is solely responsible for purchasing clothes and jewellery for all the family members during the… Continue reading

Lessons from Orality for Digital Financial Services Development

Header3c

At 6:30 a.m.,in a busy wholesale vegetable market on the outskirts of Varanasi, Shanti Devi is haggling with the wholesale vendor of cauliflower. The price is negotiated at ₹300 a sack. Shanti takes out two ₹500 currency notes from her batua (cloth purse) and hands it to the vendor for two sacks. The vendor hands… Continue reading

From OTC to Mobile Accounts: Easypaisa’s Journey

Header3c

In 2009, Pakistan spearheaded the over the counter (OTC) transaction revolution. But in the summer of 2017, the digital financial services (DFS) landscape may experience a watershed moment. In June 2016, the State Bank of Pakistan (SBP) announced that as of July 2017, all branchless banking players offering OTC transactions will be required to use… Continue reading

Learning from (and about) India´s Emerging Digital Money Grid

Header3c

  The Government of India has embarked on a remarkable path to connect all its citizens onto a digital platform through which they can, in real-time, confirm their identity, financially transact with anyone else, and store relevant documentation in natively digital format and consent to it being shared digitally with others (for instance, to support… Continue reading

Top Blogs from 2016

Header3c

  Presenting MicroSave's top picks for the year. Do you see your favourite blog here? e-KYC and the India Stack – A Transformative Blueprint for Emerging Markets Billions of people around the world are required to meet know your customer (KYC) norms to avail of services considerably important to their lives. Yet, widely prevalent archaic… Continue reading

Can Payments Banks Survive?

Header3c

The news that three of the provisional licensees, Cholamandalam Distribution Services, Dilip Shanghvi and Tech Mahindra, have decided not to seek a full Payments Bank license, has caused much debate. The reasons for their withdrawal are varied – and not all necessarily based on the challenges posed by the underlying business model. Despite this, the… Continue reading

Payment Systems in India and Current Status: A Perspective

Header3c

The payment system in any country needs to pass the litmus test of safety, security, soundness, efficiency, and accessibility. In order to address all these, payment systems have evolved from barter to currency, to digital systems. We are witnessing enormous change in the payment systems, disrupting the monopoly of physical/paper-based system by electronic ones. There… Continue reading

Competition in the Kenyan Digital Finance Market: Mobile Money (Part 1 of 3)

Header3c

There has been a great deal of international discourse on the topic of mobile money after Kenya’s successful implementation of M-PESA, and as we recently wrote, the success is increasingly shared by banks. This is a clear victory for Kenyan customers, who now have more options to choose from.  However it also means that the financial… Continue reading

Designing an Effective User Interface for USSD: Part2

Header3c

In the first part of this blog series “Designing an effective user interface for USSD”, we presented a comparative analysis of various access channels used for accessing mobile money services. This blog presents the behavioural insights from the user perspective based on the recent research conducted by MicroSave with a leading MNO in five geographies.… Continue reading

Designing an Effective User Interface for USSD: Part 1

Header3c

Suraj is an illiterate migrant from Muzzafarpur (Bihar) who works at a construction site in Delhi. He has recently opened a mobile wallet with a leading mobile network operator (MNO) in India. When we met him, his primary concern was – “How would I use my (mobile money) account, when I don’t even know where… Continue reading