Lessons on accelerating responsible digital payments globally
Which incentives do women merchants value the most to move away from cash? How can national transformation journeys help drive responsible digitization? What are the benefits of digitizing tax payments?
The Better Than Cash Allianceworks with members to accelerate a responsible shift to digital payments, to advance the Sustainable Development Goals. We are pleased to launch the Alliance Learning Series, a compilation of reflections on initiatives undertaken with our members.
In the first edition of the series, we explore what we have learnt so far from initiatives supporting country diagnostic reports and national strategies, Merchant Payments (P2B), and Person to Government (P2G) payments.
Theme 1: Catalyzing action on digital payments:
Insights from national transformation journeys
The 2018 diagnostic study in Senegal demonstrated the potential to add FCFA 104 billion (over US$177 million) to GDP per year by digitizing 50% of all national payments. The government was able to use the diagnostic in its fundraising efforts for digitization, raising US$3 billion from the investors approached at the Paris Consultative Group.
We discuss how diagnostics and strategies are powerful tools for governments in driving payments digitization from experiences in Bangladesh, Ethiopia, Ghana, Philippines, and Senegal.
Theme 2: How to unlock the big opportunity in small Merchant Payments (P2B) digitization
Of Mexico's 6.3 million micro, small, and medium enterprises, 94.2% are microenterprises. Over half of these are women-owned or women-led. There are 1.2 million mom-and-pop shops, and only 10% of microbusinesses have a digital presence.
Through learning from Ghana, India, Mexico, and Philippines, and companies such as Unilever and Grupo Bimbo, we explore how to unlock the huge opportunity of merchant payment digitization.
Theme 3: Improving efficiency in domestic resource mobilization through the digitization of tax and non-tax revenue payments
“Payments digitization should be seen as a driver for growth and not as a government cash cow.”Mr. Richard Tusabe, Honorable Rwandan Minister of State in Charge of National Treasury
We identify key challenges, opportunities, and priorities in the design of effective revenue payment digitization solutions, leveraging examples from Rwanda, Colombia, Kenya, and others.
