In Malawi, 81% of people do not have access to formal payment services or mobile phones. Few financial institutions (public or private) actively pursue the unbanked market through technology and new distribution channels.

This 2012 study analysed the country context, demand, supply and regulatory framework for payment services in Malawi in order to conclude on the scope for retail payment services to play a transformative financial inclusion role, and the market and regulatory challenges to be overcome for that potential to be realised. This report forms part of a series of studies that also covers Mozambique, Zimbabwe and Zambia.