Why digital payments are not replacing cash

Why digital payments are not replacing cash

10 June, 2016    

Globally, the financial inclusion agenda has focused on migrating consumers, providers and governments to digital payment instruments, in a bid to reduce the cost of payments and to allow for the digitisation of other services for which payments are required (e.g. savings, credit and insurance). However, despite the increasing focus on and availability of digital or electronic payments, very few adult consumers in the initial six MAP countries were found to be using digital instruments to meet their payment needs and cash remains the preferred payments options.

The king is not dead: Why digital payments are not replacing cash (Note 5) further explains why consumers still use cash, despite the availability of digital payment instruments and the energetic advocacy efforts for the adoption of digital options.


Download the note Size 4mb

 

Comments on 'Why digital payments are not replacing cash'

Cool. I spent a long time looking for relevant content and found that your article gave me new ideas, which is very helpful for my research. I think my thesis can be completed more smoothly. Thank you.

By: gate io on 11 March 2023 View Context

It’s enormous that you are getting ideas from this article as well as from our dialogue made at this place.

By: gate io on 31 December 2022 View Context
Similar Articles
Diverse paths: Finance for women’s nano and micro enterprises
Women-led nano and micro enterprises (WNMEs) are central to local economies and household livelihoods, yet they rem...
7 Lessons from 2024
Our work at Cenfri rarely follows the typical rhythms of the calendar year, yet, as 2024 draws to a close, we thought it would be good to reflect o...
Scaling up health microinsurance in Kenya: Insights and opportunities
How can we prevent high healthcare costs and low insurance penetration from driving peo...
A pocket guide to navigating the structure of the G20
On 1 December 2024, South Africa will take over the G20 presidency. This is a fantastic opportunity for Africa. In his recent Troika ...