Innovation in Electronic Payment Adoption : The Case of Small Retailers

This report aims to deepen the understanding of barriers to and incentives for the acceptance and use of electronic payments, from the perspective of micro, small and medium retailers (merchants). Developing and accelerating acceptance of...

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Bibliographic Details
Main Authors: World Bank Group, World Economic Forum
Format: Report
Language:English
en_US
Published: World Economic Forum, Geneva and World Bank, Washington 2016
Subjects:
FEE
MFI
Online Access:http://documents.worldbank.org/curated/en/2016/06/26528348/innovation-electronic-payment-adoption-case-small-retailers
http://hdl.handle.net/10986/24700
id okr-10986-24700
recordtype oai_dc
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 TAX CODES
BUSINESS OWNERS
LINE OF CREDIT
DEPOSIT
FINANCIAL SERVICES
BANK FEES
CREDIT CARDS
ELECTRONIC TRANSFERS
RECEIPT
ATM CARDS
ECONOMIC GROWTH
PROFIT MARGINS
DEPOSITS
PEOPLE
PAYMENT SERVICE
PUBLIC-PRIVATE PARTNERSHIPS
MERCHANTS
FINANCING
INTEREST
E-COMMERCE
CREDIT SCORE
FINANCIAL LITERACY
SAVINGS ACCOUNTS
DIGITAL REVOLUTION
REMITTANCE
BUSINESS TRANSACTIONS
SMALL BUSINESS FINANCE
BANK ACCOUNT
ENTREPRENEURS
MULTINATIONAL
REVENUES
MONEY TRANSFER
FORMAL FINANCIAL SECTOR
BANK DEPOSIT
WELFARE
PAYMENTS SERVICE
UNIVERSAL FINANCIAL ACCESS
LOAN
CREDITWORTHINESS
DIRECT DEPOSIT
FEE
BORROWERS
ELECTRONIC ACCOUNT
SMALL-BUSINESS LOANS
CREDIT CARD
PAYMENTS
SAVING
PAYMENTS INFRASTRUCTURE
INTERNATIONAL BANK
BUSINESS OPPORTUNITY
MFIS
INFORMATION ASYMMETRIES
CASH FLOWS
NEW BUSINESS
MICROFINANCE INSTITUTIONS
CREDIT UNDERWRITING
FEMALE ENTREPRENEURS
ACCESS TO FINANCIAL SERVICES
SMALL-BUSINESS
SMALL BUSINESS
INTERNATIONAL FINANCE
LOWER-INCOME CONSUMERS
BUSINESS LOANS
SAVINGS
START-UP
PUBLIC-PRIVATE PARTNERSHIP
GENDER GAP
FINANCIAL INSTITUTION
ACCESS TO FORMAL CREDIT
UNION
OPERATIONAL COSTS
FINANCES
FIXED COSTS
INTEREST RATES
PAYMENT
FINANCIAL INSTITUTIONS
LIMITED ACCESS
RECEIPTS
FINANCING NEEDS
FINANCIAL VIABILITY
DEPOSIT INSURANCE
FINANCIAL PRODUCTS
WIRE TRANSFER
CUSTOMER SERVICE
BANKERS
LOANS
ENTERPRISES
ELECTRONIC PAYMENTS
APPROVAL PROCESS
APPLICATION PROCESS
FINANCIAL SYSTEM
FINANCIAL HEALTH
CHILD CARE
DEBIT CARDS
FINANCE
BANK DEPOSITS
BANKS
PROFIT MARGIN
CREDIT LINE
UNEMPLOYMENT
POINT OF SALE
CREDIT DECISIONS
CREDIT GAP
BUSINESS FINANCE
CAPITAL
BUSINESS MANAGEMENT
PAYMENT OBLIGATION
CUSTOMER BASE
E-PAYMENTS
LEGAL TENDER
FAMILY
ACCESS TO FINANCE
BANKERS’ ASSOCIATION
GENDER
CASH PAYMENTS
BANK
FORMAL FINANCIAL SERVICES
CREDIT
PURCHASING POWER
MINIMUM BALANCE
MICROINSURANCE
UNIVERSAL ACCESS
WORKING CAPITAL
URBAN AREAS
HOUSEHOLD
DOCUMENTATION REQUIREMENTS
REPAYMENT
ENTERPRISE
FINANCIAL ACCOUNT
SOCIAL NETWORKS
PAYMENT INFRASTRUCTURE
CUSTOMER RELATIONSHIP
FINANCIAL SERVICE PROVIDERS
JOB CREATION
CASH MANAGEMENT
FINANCIAL ACCESS
TRANSACTION COSTS
TAX LIABILITY
BUSINESS SUPPORT
EMPLOYERS
FINANCIAL SERVICE
SUPPLY CHAIN
SECURITIES
BANK ACCOUNTS
ACCESS TO CREDIT
MICROFINANCE
ECONOMIC DEVELOPMENT
ECONOMIC OPPORTUNITIES
BANK LOAN
SUPPLY CHAINS
SECURITY
ECONOMIES OF SCALE
BUSINESS OWNER
FINANCIAL MARKET
BANK BRANCH
LACK OF AWARENESS
INVESTMENT
EXTREME POVERTY
ELECTRONIC PAYMENT
PAYMENT SERVICES
FINANCIAL CAPACITY
COOPERATION
EMPLOYEE
REVENUE
CREDIT TRANSFER
GREATER ACCESS
RISK MANAGEMENT
DEBIT CARD
MERCHANT
POINT-OF-SALE TERMINALS
ACCESS POINTS
FEES
FAMILIES
WOMEN
OUTREACH
REMITTANCES
SOCIAL NETWORK
POINT-OF-SALE
CUSTOMER DEMAND
FORMAL CREDIT
BANK SERVICE
FINANCIAL SERVICES INDUSTRY
SMALL BUSINESSES
GUARANTEE
CREDIT LINES
REGISTRATION PROCESS
BUSINESS FINANCES
START-UPS
INCOME GROUPS
MICROFINANCE INSTITUTION
MFI
EMPLOYEES
spellingShingle TAX CODES
BUSINESS OWNERS
LINE OF CREDIT
DEPOSIT
FINANCIAL SERVICES
BANK FEES
CREDIT CARDS
ELECTRONIC TRANSFERS
RECEIPT
ATM CARDS
ECONOMIC GROWTH
PROFIT MARGINS
DEPOSITS
PEOPLE
PAYMENT SERVICE
PUBLIC-PRIVATE PARTNERSHIPS
MERCHANTS
FINANCING
INTEREST
E-COMMERCE
CREDIT SCORE
FINANCIAL LITERACY
SAVINGS ACCOUNTS
DIGITAL REVOLUTION
REMITTANCE
BUSINESS TRANSACTIONS
SMALL BUSINESS FINANCE
BANK ACCOUNT
ENTREPRENEURS
MULTINATIONAL
REVENUES
MONEY TRANSFER
FORMAL FINANCIAL SECTOR
BANK DEPOSIT
WELFARE
PAYMENTS SERVICE
UNIVERSAL FINANCIAL ACCESS
LOAN
CREDITWORTHINESS
DIRECT DEPOSIT
FEE
BORROWERS
ELECTRONIC ACCOUNT
SMALL-BUSINESS LOANS
CREDIT CARD
PAYMENTS
SAVING
PAYMENTS INFRASTRUCTURE
INTERNATIONAL BANK
BUSINESS OPPORTUNITY
MFIS
INFORMATION ASYMMETRIES
CASH FLOWS
NEW BUSINESS
MICROFINANCE INSTITUTIONS
CREDIT UNDERWRITING
FEMALE ENTREPRENEURS
ACCESS TO FINANCIAL SERVICES
SMALL-BUSINESS
SMALL BUSINESS
INTERNATIONAL FINANCE
LOWER-INCOME CONSUMERS
BUSINESS LOANS
SAVINGS
START-UP
PUBLIC-PRIVATE PARTNERSHIP
GENDER GAP
FINANCIAL INSTITUTION
ACCESS TO FORMAL CREDIT
UNION
OPERATIONAL COSTS
FINANCES
FIXED COSTS
INTEREST RATES
PAYMENT
FINANCIAL INSTITUTIONS
LIMITED ACCESS
RECEIPTS
FINANCING NEEDS
FINANCIAL VIABILITY
DEPOSIT INSURANCE
FINANCIAL PRODUCTS
WIRE TRANSFER
CUSTOMER SERVICE
BANKERS
LOANS
ENTERPRISES
ELECTRONIC PAYMENTS
APPROVAL PROCESS
APPLICATION PROCESS
FINANCIAL SYSTEM
FINANCIAL HEALTH
CHILD CARE
DEBIT CARDS
FINANCE
BANK DEPOSITS
BANKS
PROFIT MARGIN
CREDIT LINE
UNEMPLOYMENT
POINT OF SALE
CREDIT DECISIONS
CREDIT GAP
BUSINESS FINANCE
CAPITAL
BUSINESS MANAGEMENT
PAYMENT OBLIGATION
CUSTOMER BASE
E-PAYMENTS
LEGAL TENDER
FAMILY
ACCESS TO FINANCE
BANKERS’ ASSOCIATION
GENDER
CASH PAYMENTS
BANK
FORMAL FINANCIAL SERVICES
CREDIT
PURCHASING POWER
MINIMUM BALANCE
MICROINSURANCE
UNIVERSAL ACCESS
WORKING CAPITAL
URBAN AREAS
HOUSEHOLD
DOCUMENTATION REQUIREMENTS
REPAYMENT
ENTERPRISE
FINANCIAL ACCOUNT
SOCIAL NETWORKS
PAYMENT INFRASTRUCTURE
CUSTOMER RELATIONSHIP
FINANCIAL SERVICE PROVIDERS
JOB CREATION
CASH MANAGEMENT
FINANCIAL ACCESS
TRANSACTION COSTS
TAX LIABILITY
BUSINESS SUPPORT
EMPLOYERS
FINANCIAL SERVICE
SUPPLY CHAIN
SECURITIES
BANK ACCOUNTS
ACCESS TO CREDIT
MICROFINANCE
ECONOMIC DEVELOPMENT
ECONOMIC OPPORTUNITIES
BANK LOAN
SUPPLY CHAINS
SECURITY
ECONOMIES OF SCALE
BUSINESS OWNER
FINANCIAL MARKET
BANK BRANCH
LACK OF AWARENESS
INVESTMENT
EXTREME POVERTY
ELECTRONIC PAYMENT
PAYMENT SERVICES
FINANCIAL CAPACITY
COOPERATION
EMPLOYEE
REVENUE
CREDIT TRANSFER
GREATER ACCESS
RISK MANAGEMENT
DEBIT CARD
MERCHANT
POINT-OF-SALE TERMINALS
ACCESS POINTS
FEES
FAMILIES
WOMEN
OUTREACH
REMITTANCES
SOCIAL NETWORK
POINT-OF-SALE
CUSTOMER DEMAND
FORMAL CREDIT
BANK SERVICE
FINANCIAL SERVICES INDUSTRY
SMALL BUSINESSES
GUARANTEE
CREDIT LINES
REGISTRATION PROCESS
BUSINESS FINANCES
START-UPS
INCOME GROUPS
MICROFINANCE INSTITUTION
MFI
EMPLOYEES
World Bank Group
World Economic Forum
Innovation in Electronic Payment Adoption : The Case of Small Retailers
description This report aims to deepen the understanding of barriers to and incentives for the acceptance and use of electronic payments, from the perspective of micro, small and medium retailers (merchants). Developing and accelerating acceptance of electronic payments by these merchants is essential to expanding financial access. A basic transaction account for payments and deposits is considered an entry point to the formal financial system, and can act as a gateway for individuals to adopt other relevant financial services they need to smooth their consumption and manage income shocks. However, equipping individuals with only basic transaction accounts is not sufficient. The use case for payment services becomes increasingly effective as individuals gradually move to a cashless economy, where electronic payments are widely accepted for regular and frequent purchases. The report highlights important dimensions to consider in the efforts to expand electronic payments for merchants.
format Report
author World Bank Group
World Economic Forum
author_facet World Bank Group
World Economic Forum
author_sort World Bank Group
title Innovation in Electronic Payment Adoption : The Case of Small Retailers
title_short Innovation in Electronic Payment Adoption : The Case of Small Retailers
title_full Innovation in Electronic Payment Adoption : The Case of Small Retailers
title_fullStr Innovation in Electronic Payment Adoption : The Case of Small Retailers
title_full_unstemmed Innovation in Electronic Payment Adoption : The Case of Small Retailers
title_sort innovation in electronic payment adoption : the case of small retailers
publisher World Economic Forum, Geneva and World Bank, Washington
publishDate 2016
url http://documents.worldbank.org/curated/en/2016/06/26528348/innovation-electronic-payment-adoption-case-small-retailers
http://hdl.handle.net/10986/24700
_version_ 1764457373806624768
spelling okr-10986-247002021-05-25T09:29:57Z Innovation in Electronic Payment Adoption : The Case of Small Retailers World Bank Group World Economic Forum TAX CODES BUSINESS OWNERS LINE OF CREDIT DEPOSIT FINANCIAL SERVICES BANK FEES CREDIT CARDS ELECTRONIC TRANSFERS RECEIPT ATM CARDS ECONOMIC GROWTH PROFIT MARGINS DEPOSITS PEOPLE PAYMENT SERVICE PUBLIC-PRIVATE PARTNERSHIPS MERCHANTS FINANCING INTEREST E-COMMERCE CREDIT SCORE FINANCIAL LITERACY SAVINGS ACCOUNTS DIGITAL REVOLUTION REMITTANCE BUSINESS TRANSACTIONS SMALL BUSINESS FINANCE BANK ACCOUNT ENTREPRENEURS MULTINATIONAL REVENUES MONEY TRANSFER FORMAL FINANCIAL SECTOR BANK DEPOSIT WELFARE PAYMENTS SERVICE UNIVERSAL FINANCIAL ACCESS LOAN CREDITWORTHINESS DIRECT DEPOSIT FEE BORROWERS ELECTRONIC ACCOUNT SMALL-BUSINESS LOANS CREDIT CARD PAYMENTS SAVING PAYMENTS INFRASTRUCTURE INTERNATIONAL BANK BUSINESS OPPORTUNITY MFIS INFORMATION ASYMMETRIES CASH FLOWS NEW BUSINESS MICROFINANCE INSTITUTIONS CREDIT UNDERWRITING FEMALE ENTREPRENEURS ACCESS TO FINANCIAL SERVICES SMALL-BUSINESS SMALL BUSINESS INTERNATIONAL FINANCE LOWER-INCOME CONSUMERS BUSINESS LOANS SAVINGS START-UP PUBLIC-PRIVATE PARTNERSHIP GENDER GAP FINANCIAL INSTITUTION ACCESS TO FORMAL CREDIT UNION OPERATIONAL COSTS FINANCES FIXED COSTS INTEREST RATES PAYMENT FINANCIAL INSTITUTIONS LIMITED ACCESS RECEIPTS FINANCING NEEDS FINANCIAL VIABILITY DEPOSIT INSURANCE FINANCIAL PRODUCTS WIRE TRANSFER CUSTOMER SERVICE BANKERS LOANS ENTERPRISES ELECTRONIC PAYMENTS APPROVAL PROCESS APPLICATION PROCESS FINANCIAL SYSTEM FINANCIAL HEALTH CHILD CARE DEBIT CARDS FINANCE BANK DEPOSITS BANKS PROFIT MARGIN CREDIT LINE UNEMPLOYMENT POINT OF SALE CREDIT DECISIONS CREDIT GAP BUSINESS FINANCE CAPITAL BUSINESS MANAGEMENT PAYMENT OBLIGATION CUSTOMER BASE E-PAYMENTS LEGAL TENDER FAMILY ACCESS TO FINANCE BANKERS’ ASSOCIATION GENDER CASH PAYMENTS BANK FORMAL FINANCIAL SERVICES CREDIT PURCHASING POWER MINIMUM BALANCE MICROINSURANCE UNIVERSAL ACCESS WORKING CAPITAL URBAN AREAS HOUSEHOLD DOCUMENTATION REQUIREMENTS REPAYMENT ENTERPRISE FINANCIAL ACCOUNT SOCIAL NETWORKS PAYMENT INFRASTRUCTURE CUSTOMER RELATIONSHIP FINANCIAL SERVICE PROVIDERS JOB CREATION CASH MANAGEMENT FINANCIAL ACCESS TRANSACTION COSTS TAX LIABILITY BUSINESS SUPPORT EMPLOYERS FINANCIAL SERVICE SUPPLY CHAIN SECURITIES BANK ACCOUNTS ACCESS TO CREDIT MICROFINANCE ECONOMIC DEVELOPMENT ECONOMIC OPPORTUNITIES BANK LOAN SUPPLY CHAINS SECURITY ECONOMIES OF SCALE BUSINESS OWNER FINANCIAL MARKET BANK BRANCH LACK OF AWARENESS INVESTMENT EXTREME POVERTY ELECTRONIC PAYMENT PAYMENT SERVICES FINANCIAL CAPACITY COOPERATION EMPLOYEE REVENUE CREDIT TRANSFER GREATER ACCESS RISK MANAGEMENT DEBIT CARD MERCHANT POINT-OF-SALE TERMINALS ACCESS POINTS FEES FAMILIES WOMEN OUTREACH REMITTANCES SOCIAL NETWORK POINT-OF-SALE CUSTOMER DEMAND FORMAL CREDIT BANK SERVICE FINANCIAL SERVICES INDUSTRY SMALL BUSINESSES GUARANTEE CREDIT LINES REGISTRATION PROCESS BUSINESS FINANCES START-UPS INCOME GROUPS MICROFINANCE INSTITUTION MFI EMPLOYEES This report aims to deepen the understanding of barriers to and incentives for the acceptance and use of electronic payments, from the perspective of micro, small and medium retailers (merchants). Developing and accelerating acceptance of electronic payments by these merchants is essential to expanding financial access. A basic transaction account for payments and deposits is considered an entry point to the formal financial system, and can act as a gateway for individuals to adopt other relevant financial services they need to smooth their consumption and manage income shocks. However, equipping individuals with only basic transaction accounts is not sufficient. The use case for payment services becomes increasingly effective as individuals gradually move to a cashless economy, where electronic payments are widely accepted for regular and frequent purchases. The report highlights important dimensions to consider in the efforts to expand electronic payments for merchants. 2016-07-14T20:16:44Z 2016-07-14T20:16:44Z 2016-06 Report http://documents.worldbank.org/curated/en/2016/06/26528348/innovation-electronic-payment-adoption-case-small-retailers http://hdl.handle.net/10986/24700 English en_US CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo/ World Bank; World Economic Forum World Economic Forum, Geneva and World Bank, Washington Publications & Research Publications & Research :: Working Paper