Understanding How Consumer Risks in Digital Social Payments Can Erode Their Financial Inclusion Potential

Digital Social Payments (DSPs) offer a variety of potential benefits over traditional cash, voucher, or in-kind methods. Proponents most often cite increased efficiency, reduced leakage, and faster, more convenient and more secure payments to recip...

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Main Authors:	Zimmerman, Jamie M., Baur, Silvia
Format:	Brief
Language:	English en_US
Published:	World Bank, Washington, DC 2016
Subjects:	FINANCIAL SERVICES ELECTRONIC TRANSFERS CUSTOMER NETWORK FAILURES PAYMENT SERVICE POS INTERFACES VALUE CHAIN DIGITIZATION PAYMENT SYSTEM PURCHASES INFORMATION LIQUIDITY SERVICES MONITORING THIRD PARTIES PAYMENT PROVIDERS REAL TIME CUSTOMER TRUST SYSTEM FUNDS PRICE PAYMENTS SAVING DEVICES DISPUTE RESOLUTION NEW TECHNOLOGIES SAVINGS TECHNICAL ASSISTANCE DIGITAL BENEFICIARY FINANCIAL LOSS DISBURSEMENT USER EXPERIENCE ELECTRONIC PAYMENT SYSTEMS TARGETS MOBILE NETWORK DIGITAL CASH PAYMENT LIMITED ACCESS CONNECTIVITY FINANCIAL PRODUCTS WEB CUSTOMER SERVICE DATA PROTECTION GOVERNMENT PAYMENTS CALL CENTER DEBIT CARDS IDENTIFICATION NUMBER TRANSACTIONS USERS PHONE EMERGING MARKETS TECHNOLOGY TRANSACTION RELIABILITY FRAUD PAYMENT MECHANISMS CONTACT INFORMATION RESULTS BASIC MOBILE PHONE STAKEHOLDERS VICTIMS OF FRAUD NETWORKS SYSTEMS FAX USER INTERFACE DISBURSEMENTS ASSETS PAYMENT MECHANISM QUERIES BANK ACCOUNTS RESULT BANK CARD LOSS SECURITY BLOG INVESTMENT BUSINESS NETWORK USER INTERFACES PHONES ATM ELECTRONIC PAYMENT PAYMENT SERVICES EMERGENCY PAYMENTS MOBILE PHONES SECURE PAYMENTS IT COMMUNICATION AT GOVERNMENT CONTRACT INTERFACE CUSTOMERS REGISTRATION PAYMENT SYSTEMS TECHNOLOGIES PIN WEB SITE IDENTIFICATION GUARANTEE PRICES RISK ASSESSMENT RISK MITIGATION FINANCIAL NETWORK
Online Access:	http://documents.worldbank.org/curated/en/2016/06/26430235/understanding-consumer-risks-digital-social-payments-can-erode-financial-inclusion-potential http://hdl.handle.net/10986/24568

id	okr-10986-24568
recordtype	oai_dc
spelling	okr-10986-245682021-05-25T10:54:39Z Understanding How Consumer Risks in Digital Social Payments Can Erode Their Financial Inclusion Potential Zimmerman, Jamie M. Baur, Silvia FINANCIAL SERVICES ELECTRONIC TRANSFERS CUSTOMER NETWORK FAILURES PAYMENT SERVICE POS INTERFACES VALUE CHAIN DIGITIZATION PAYMENT SYSTEM PURCHASES INFORMATION LIQUIDITY SERVICES MONITORING THIRD PARTIES PAYMENT PROVIDERS REAL TIME CUSTOMER TRUST SYSTEM FUNDS PRICE PAYMENTS SAVING DEVICES DISPUTE RESOLUTION NEW TECHNOLOGIES SAVINGS TECHNICAL ASSISTANCE DIGITAL BENEFICIARY FINANCIAL LOSS DISBURSEMENT USER EXPERIENCE ELECTRONIC PAYMENT SYSTEMS TARGETS MOBILE NETWORK DIGITAL CASH PAYMENT LIMITED ACCESS CONNECTIVITY FINANCIAL PRODUCTS WEB CUSTOMER SERVICE DATA PROTECTION GOVERNMENT PAYMENTS CALL CENTER DEBIT CARDS IDENTIFICATION NUMBER TRANSACTIONS USERS PHONE EMERGING MARKETS TECHNOLOGY TRANSACTION RELIABILITY FRAUD PAYMENT MECHANISMS CONTACT INFORMATION RESULTS BASIC MOBILE PHONE STAKEHOLDERS VICTIMS OF FRAUD NETWORKS SYSTEMS FAX USER INTERFACE DISBURSEMENTS ASSETS PAYMENT MECHANISM QUERIES BANK ACCOUNTS RESULT BANK CARD LOSS SECURITY BLOG INVESTMENT BUSINESS NETWORK USER INTERFACES PHONES ATM ELECTRONIC PAYMENT PAYMENT SERVICES EMERGENCY PAYMENTS MOBILE PHONES SECURE PAYMENTS IT COMMUNICATION AT GOVERNMENT CONTRACT INTERFACE CUSTOMERS REGISTRATION PAYMENT SYSTEMS TECHNOLOGIES PIN WEB SITE IDENTIFICATION GUARANTEE PRICES RISK ASSESSMENT RISK MITIGATION FINANCIAL NETWORK Digital Social Payments (DSPs) offer a variety of potential benefits over traditional cash, voucher, or in-kind methods. Proponents most often cite increased efficiency, reduced leakage, and faster, more convenient and more secure payments to recipients. When linked to bank accounts or mobile wallets that offer store-of-value opportunities or access to additional financial services, DSPs to the bottom of the pyramid could pave a way to fuller financial inclusion. However, evidence shows that the financial inclusion benefits of DSPs have thus far been limited: most recipients withdraw 100 percent of their payment at once and by and large do not use the account again until the next transfer takes place, let alone take advantage of additional financial services that may be available to them. This lackluster use has led some to question the promise of DSPs as a financial inclusion gateway. 2016-06-17T18:50:32Z 2016-06-17T18:50:32Z 2016-03 Brief http://documents.worldbank.org/curated/en/2016/06/26430235/understanding-consumer-risks-digital-social-payments-can-erode-financial-inclusion-potential http://hdl.handle.net/10986/24568 English en_US CGAP Brief; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Brief
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	FINANCIAL SERVICES ELECTRONIC TRANSFERS CUSTOMER NETWORK FAILURES PAYMENT SERVICE POS INTERFACES VALUE CHAIN DIGITIZATION PAYMENT SYSTEM PURCHASES INFORMATION LIQUIDITY SERVICES MONITORING THIRD PARTIES PAYMENT PROVIDERS REAL TIME CUSTOMER TRUST SYSTEM FUNDS PRICE PAYMENTS SAVING DEVICES DISPUTE RESOLUTION NEW TECHNOLOGIES SAVINGS TECHNICAL ASSISTANCE DIGITAL BENEFICIARY FINANCIAL LOSS DISBURSEMENT USER EXPERIENCE ELECTRONIC PAYMENT SYSTEMS TARGETS MOBILE NETWORK DIGITAL CASH PAYMENT LIMITED ACCESS CONNECTIVITY FINANCIAL PRODUCTS WEB CUSTOMER SERVICE DATA PROTECTION GOVERNMENT PAYMENTS CALL CENTER DEBIT CARDS IDENTIFICATION NUMBER TRANSACTIONS USERS PHONE EMERGING MARKETS TECHNOLOGY TRANSACTION RELIABILITY FRAUD PAYMENT MECHANISMS CONTACT INFORMATION RESULTS BASIC MOBILE PHONE STAKEHOLDERS VICTIMS OF FRAUD NETWORKS SYSTEMS FAX USER INTERFACE DISBURSEMENTS ASSETS PAYMENT MECHANISM QUERIES BANK ACCOUNTS RESULT BANK CARD LOSS SECURITY BLOG INVESTMENT BUSINESS NETWORK USER INTERFACES PHONES ATM ELECTRONIC PAYMENT PAYMENT SERVICES EMERGENCY PAYMENTS MOBILE PHONES SECURE PAYMENTS IT COMMUNICATION AT GOVERNMENT CONTRACT INTERFACE CUSTOMERS REGISTRATION PAYMENT SYSTEMS TECHNOLOGIES PIN WEB SITE IDENTIFICATION GUARANTEE PRICES RISK ASSESSMENT RISK MITIGATION FINANCIAL NETWORK
spellingShingle	FINANCIAL SERVICES ELECTRONIC TRANSFERS CUSTOMER NETWORK FAILURES PAYMENT SERVICE POS INTERFACES VALUE CHAIN DIGITIZATION PAYMENT SYSTEM PURCHASES INFORMATION LIQUIDITY SERVICES MONITORING THIRD PARTIES PAYMENT PROVIDERS REAL TIME CUSTOMER TRUST SYSTEM FUNDS PRICE PAYMENTS SAVING DEVICES DISPUTE RESOLUTION NEW TECHNOLOGIES SAVINGS TECHNICAL ASSISTANCE DIGITAL BENEFICIARY FINANCIAL LOSS DISBURSEMENT USER EXPERIENCE ELECTRONIC PAYMENT SYSTEMS TARGETS MOBILE NETWORK DIGITAL CASH PAYMENT LIMITED ACCESS CONNECTIVITY FINANCIAL PRODUCTS WEB CUSTOMER SERVICE DATA PROTECTION GOVERNMENT PAYMENTS CALL CENTER DEBIT CARDS IDENTIFICATION NUMBER TRANSACTIONS USERS PHONE EMERGING MARKETS TECHNOLOGY TRANSACTION RELIABILITY FRAUD PAYMENT MECHANISMS CONTACT INFORMATION RESULTS BASIC MOBILE PHONE STAKEHOLDERS VICTIMS OF FRAUD NETWORKS SYSTEMS FAX USER INTERFACE DISBURSEMENTS ASSETS PAYMENT MECHANISM QUERIES BANK ACCOUNTS RESULT BANK CARD LOSS SECURITY BLOG INVESTMENT BUSINESS NETWORK USER INTERFACES PHONES ATM ELECTRONIC PAYMENT PAYMENT SERVICES EMERGENCY PAYMENTS MOBILE PHONES SECURE PAYMENTS IT COMMUNICATION AT GOVERNMENT CONTRACT INTERFACE CUSTOMERS REGISTRATION PAYMENT SYSTEMS TECHNOLOGIES PIN WEB SITE IDENTIFICATION GUARANTEE PRICES RISK ASSESSMENT RISK MITIGATION FINANCIAL NETWORK Zimmerman, Jamie M. Baur, Silvia Understanding How Consumer Risks in Digital Social Payments Can Erode Their Financial Inclusion Potential
relation	CGAP Brief;
description	Digital Social Payments (DSPs) offer a variety of potential benefits over traditional cash, voucher, or in-kind methods. Proponents most often cite increased efficiency, reduced leakage, and faster, more convenient and more secure payments to recipients. When linked to bank accounts or mobile wallets that offer store-of-value opportunities or access to additional financial services, DSPs to the bottom of the pyramid could pave a way to fuller financial inclusion. However, evidence shows that the financial inclusion benefits of DSPs have thus far been limited: most recipients withdraw 100 percent of their payment at once and by and large do not use the account again until the next transfer takes place, let alone take advantage of additional financial services that may be available to them. This lackluster use has led some to question the promise of DSPs as a financial inclusion gateway.
format	Brief
author	Zimmerman, Jamie M. Baur, Silvia
author_facet	Zimmerman, Jamie M. Baur, Silvia
author_sort	Zimmerman, Jamie M.
title	Understanding How Consumer Risks in Digital Social Payments Can Erode Their Financial Inclusion Potential
title_short	Understanding How Consumer Risks in Digital Social Payments Can Erode Their Financial Inclusion Potential
title_full	Understanding How Consumer Risks in Digital Social Payments Can Erode Their Financial Inclusion Potential
title_fullStr	Understanding How Consumer Risks in Digital Social Payments Can Erode Their Financial Inclusion Potential
title_full_unstemmed	Understanding How Consumer Risks in Digital Social Payments Can Erode Their Financial Inclusion Potential
title_sort	understanding how consumer risks in digital social payments can erode their financial inclusion potential
publisher	World Bank, Washington, DC
publishDate	2016
url	http://documents.worldbank.org/curated/en/2016/06/26430235/understanding-consumer-risks-digital-social-payments-can-erode-financial-inclusion-potential http://hdl.handle.net/10986/24568
_version_	1764457011192266752

Understanding How Consumer Risks in Digital Social Payments Can Erode Their Financial Inclusion Potential

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