Now reading: The unpopular choice: Taxing digital payments in the era of digitalisation

Payments & Remittances

Cenfri has broad experience in fit-for-purpose payment systems in emerging markets, particularly in Africa. We work towards making retail payments a public good, assisting central banks, payments operators and payment system participants navigate domestic and cross-border payments modernisation in a manner that contributes to economic inclusion.

We have worked extensively in instant/faster retail payment systems and in improving access to remittances for low-income households. Other projects range from diagnostic and landscaping studies, developing a national payments vision, to analysing payments legislation and regulation, and feasibility studies on central bank digital currency (CBDC). The convergence of payments and identity, as well as the focus on digitising the entire value chain rather than limited use cases, is central to our theory of change in digital payments.

We have worked with IFAD’s Financing Facility for Remittances, the World Bank, the Millennium Challenge Corporation, AfricaNenda, FSD Africa, FSD Kenya, GIZ, UNCDF, BankservAfrica, Finmark Trust, the African Union and the Alliance for Financial Inclusion.

The unpopular choice: Taxing digital payments in the era of digitalisation
Payments & Remittances

The unpopular choice: Taxing digital payments in the era of digitalisation

Historically, low-income consumers in emerging economies often perceive banking services as too expensive. As a result, these consumers opt out of using formal financial services, preferring informal alternatives instead. However, we have seen an increasing proportion of lower-income consumers opening financial accounts through mobile money operators. This more diverse pool

13 December, 2021
Eswatini’s journey towards revolutionising its payments system 
Payments & Remittances

Eswatini’s National Payment System Vision 2025

Eswatini’s journey towards revolutionising its payments system  In 2009, the Central Bank of Eswatini (CBE) published the Swaziland National Payment System (NPS) Vision 2009–2016 made significant inroads in developing key guidelines, regulations and initiating processes for a more efficient and reliable payment system. The focus of the 2021–2025 strategy is to create the key

6 April, 2021
Payments & Remittances

The potential of remittance-linked insurance products in sub-Saharan Africa

Exploring the potential of remittance-linked insurance products to improve the resilience of households in sub-Saharan Africa (SSA)  Remittances are particularly important on the continent and serve as a lifeline to many households. Yet insurance products that enable the sustained flow of remittances or the resilience of senders and receivers remain unexplored in SSA.  Both remittance

31 March, 2021
Africa: New toolkit may unlock access to financial services
Financial Integrity & Identity

Africa: New toolkit may unlock access to financial services

Hundreds of millions of people globally remain excluded from formal financial services to meet their needs in an affordable way. According to Findex (2017), 17% of adults in sub-Saharan Africa report not having a financial account because they cannot produce identity documents that banks are requesting as part of their

26 February, 2021
African insurance market
Payments & Remittances

Building African insurance market resilience

The need to build greater resilience in Africa and globally has been clearly demonstrated by the devastating impact of the COVID-19 pandemic on our society. The insurance industry has not been unaffected; work Cenfri did with OESAI and FSD Africa in June indicated that over 60% of insurers experienced a

15 December, 2020
Africa’s insurance fails to deliver on COVID-19
Payments & Remittances

Africa’s insurance fails to deliver on COVID-19

The COVID-19 pandemic has shone a light on the need for the African insurance sector to demonstrate its critical role in supporting people and businesses. The pandemic has been the most severe risk event in Africa in years, but many insurers have not delivered on their promise. If the sector

7 December, 2020
FSD Africa impact report
Payments & Remittances

FSD Africa’s Impact report

Between 2012 and early 2020, FSD Africa, supported by Foreign, Commonwealth and Development Office, reached over 5.47 million people and contributed to at least 3.2 million MSMEs accessing credit to grow and/or sustain their businesses with financial services and products across Africa. In FSD Africa’s inaugural Impact Report they unpack how they achieved this impact

20 November, 2020
Inclusive compliance models
Financial Integrity & Identity

Inclusive AML-CFT models in Africa: Lessons from six financial service providers

This study set out to develop and apply inclusive compliance models in anti-money laundering and combatting the financing of terrorism (AML-CFT) to assist country and institutional stakeholders in achieving inclusive integrity outcomes. An inclusive compliance model is a compliance approach that minimises the cost of compliance while still adequately managing

20 November, 2020
Cell captive insurance
Governance, Policy & Regulation

South Africa’s draft conduct standard for third-party cell captives: ironing out the details

In September 2020, the South African Financial Services Conduct Authority (FSCA) published the draft conduct standard for third-party cell captives for public comment. The issuance of the draft conduct standard represents the culmination of a long regulatory journey for cell captives in South Africa, first via licence conditions placed on

6 November, 2020
©2008 – 2022 Cenfri. All Rights Reserved | SEO