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.
This focus note aims to equip regulators with a decision framework that illustrates the available tools required to regulate for innovation. Why is it necessary to regulate for innovation? Digital innovation is changing the nature of financial markets. Innovation can create opportunities, enhance efficiencies, increase competition, drive scale, and improve
This interview with Barry Cooper reflects on the highlights from the ITU digital fiat currency working group.
The rise of insurtechs in emerging markets In light of the insurtech trends, Cenfri wanted to understand to what extent insurtechs in emerging markets are able to better serve the customer and provide more value to both the insurer and the end-user. Our initial work considered insurtech in microinsurance, types
As we explore how behavioural science can narrow the gap between customer intention and customer action, we have started to look at examples from specific financial services. Two sectors identified as playing a role in improving the lives of the financially excluded are insurance and formal remittances. Behavioural interventions and
What can CBDC do for emerging markets: a case for mobile money Central banks have started to actively explore central bank digital currency (CBDC) – a new digital form of legal tender that mimics cash. Our initial note “The benefits and potential risks of digital fiat currencies” highlighted that CBDC
Understanding the state of digital payments in sub-Saharan Africa. The Seamless Southern Africa conference took place in Cape Town, South Africa, from 11 to 13 March 2019. The conference offered a platform for discussions on an array of topics, including the digitisation of payments, cryptocurrencies and financial innovation, and the
Case study: Kenya The majority of mobile-money flows continue to be dominated by cash-in and cash-out (CICO) transactions. This has led to the increasing belief that widely distributed networks of agents are essential access points for consumers, especially in rural and remote regions, to facilitate CICO needs. It is accepted
This two-part note series explores the state of national and regional payment systems in sub-Saharan Africa (SSA). Note 1 explores themes and imperatives for national and regional payment systems that enable remittances. It provides an overview of the regulatory frameworks in SSA and the principles to be considered to mitigate risks
For consumers to take up and use financial products, it is crucial that they trust the product and the service provider. In creating consumer trust in financial products, one of the most important building blocks is the presence and effectiveness of recourse mechanisms [1]. Understanding consumer recourse in Pakistan The risks
For a moment, cast your mind back over the last week. How many payments did you make with your credit card during the week? The answer is most likely quite a few. This will have much to do with you having access to a bank account, fees being affordable and
This focus note aims to equip regulators with a decision framework that illustrates the available tools required to regulate for innovation. Why is it necessary to regulate for innovation? Digital innovation is changing the nature of financial markets. Innovation can create opportunities, enhance efficiencies, increase competition, drive scale, and improve
This interview with Barry Cooper reflects on the highlights from the ITU digital fiat currency working group.
The rise of insurtechs in emerging markets In light of the insurtech trends, Cenfri wanted to understand to what extent insurtechs in emerging markets are able to better serve the customer and provide more value to both the insurer and the end-user. Our initial work considered insurtech in microinsurance, types
As we explore how behavioural science can narrow the gap between customer intention and customer action, we have started to look at examples from specific financial services. Two sectors identified as playing a role in improving the lives of the financially excluded are insurance and formal remittances. Behavioural interventions and
What can CBDC do for emerging markets: a case for mobile money Central banks have started to actively explore central bank digital currency (CBDC) – a new digital form of legal tender that mimics cash. Our initial note “The benefits and potential risks of digital fiat currencies” highlighted that CBDC
Understanding the state of digital payments in sub-Saharan Africa. The Seamless Southern Africa conference took place in Cape Town, South Africa, from 11 to 13 March 2019. The conference offered a platform for discussions on an array of topics, including the digitisation of payments, cryptocurrencies and financial innovation, and the
Case study: Kenya The majority of mobile-money flows continue to be dominated by cash-in and cash-out (CICO) transactions. This has led to the increasing belief that widely distributed networks of agents are essential access points for consumers, especially in rural and remote regions, to facilitate CICO needs. It is accepted
This two-part note series explores the state of national and regional payment systems in sub-Saharan Africa (SSA). Note 1 explores themes and imperatives for national and regional payment systems that enable remittances. It provides an overview of the regulatory frameworks in SSA and the principles to be considered to mitigate risks
For consumers to take up and use financial products, it is crucial that they trust the product and the service provider. In creating consumer trust in financial products, one of the most important building blocks is the presence and effectiveness of recourse mechanisms [1]. Understanding consumer recourse in Pakistan The risks
For a moment, cast your mind back over the last week. How many payments did you make with your credit card during the week? The answer is most likely quite a few. This will have much to do with you having access to a bank account, fees being affordable and
