Publication:
Innovation in Payments: Opportunities and Challenges for EMDEs

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dc.contributor.authorWorld Bank
dc.contributor.authorInternational Monetary Fund
dc.date.accessioned2022-04-29T20:08:38Z
dc.date.available2022-04-29T20:08:38Z
dc.date.issued2022
dc.description.abstractThe global economy is undergoing a rapid digital transformation that is changing many conventional notions about our behavior and preferences. This includes the way in which we, as consumers, as businesses, or in interactions with government, seek out goods and services and pay for them or how we receive money from others or transfer it to family or friends. As the payments industry undergoes radical changes due to digital transformation, users, providers of payment services, and regulators are adapting to the new dynamics at varying paces. This note discusses the most significant innovations in payments and their key impacts and implications on users, banks and other payment service providers, regulators, and the overall structure of the payments market. The note places special emphasis on how emerging markets and developing economies (EMDEs) can reap the benefits of payment innovations in terms of costs, convenience, accessibility, and inclusion for individuals and firms, and allow them to leapfrog development of their payments markets and effectively support economic activity.en
dc.identifierhttp://documents.worldbank.org/curated/en/099735104212220539/P1730060f0f36d0ef09ecb0c5e283741c3a
dc.identifier.doi10.1596/37357
dc.identifier.urihttps://hdl.handle.net/10986/37357
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectDIGITAL TRANSFORMATION
dc.subjectPAYMENT SERVICES
dc.subjectPAYMENT INDUSTRY
dc.subjectEMERGING MARKETS AND DEVELOPING ECONOMIES (EMDES)
dc.subjectDEVELOPING ECONOMY PAYMENT SYSTEMS
dc.subjectMONEY TRANSFER
dc.subjectPAYMENT INNOVATION
dc.subjectFINTECH
dc.subjectEMDE PAYMENT MARKET
dc.titleInnovation in Paymentsen
dc.title.alternativeFintech and the Future of Finance Flagship Technical Noteen
dc.title.subtitleOpportunities and Challenges for EMDEsen
dc.typeTechnical Note
dspace.entity.typePublication
okr.crossref.titleInnovation in PaymentsFintech and the Future of Finance Flagship Technical Note
okr.date.disclosure2022-04-22
okr.date.doiregistration2025-05-07T11:29:59.965553Z
okr.date.lastmodified2022-04-21T00:00:00Zen
okr.doctypeReport
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/099735104212220539/P1730060f0f36d0ef09ecb0c5e283741c3a
okr.guid099735104212220539
okr.identifier.externaldocumentum33792092
okr.identifier.internaldocumentum33792092
okr.identifier.report170801
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099735104212220539/pdf/P1730060f0f36d0ef09ecb0c5e283741c3a.pdfen
okr.topicMacroeconomics and Economic Growth::Markets and Market Access
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicMacroeconomics and Economic Growth::Markets and Market Access
okr.topicFinance and Financial Sector Development::E-Finance and E-Security
okr.topicInformation and Communication Technologies::Information Security & Privacy
okr.unitEFI-FCI-Finance-GD (EFNDR)
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