The Group of Twenty (G20) recognizes the key role of financial inclusion in helping to move towards an Innovative, Invigorated, Interconnected and Inclusive World Economy. In this decade, digital finance has already successfully improved access to finance by women, the poor, the young, the elderly, farmers, small and medium enterprises (SMEs) and other underserved customer segments in both G20 and non-G20 countries. Successful business models of digital financial inclusion and new regulation and supervision approaches have emerged worldwide. Digital financial inclusion promotes efficient interconnection among participants in economic activities. Leveraging the opportunities that technology offers to reduce costs, expand scale, and deepen the reach of financial services will be critical to achieving universal financial inclusion. In 2016, the G20 has the opportunity to shape and accelerate the use of digital mechanisms for improving financial access and inclusion. The G20 can help catalyze and inform country-led actions, with significant potential for social and economic impacts at the household, community, national and international levels. The G20 recognizes that it is crucial to take concrete and significant actions to advance digital financial inclusion under the guidance of the G20 High-Level Principles for Digital Financial Inclusion and of international standard-setting bodies’ (SSBs) principles supporting financial inclusion. Based on the specific circumstance of each country, G20 members aim at taking concrete actions to promote digital financial inclusion at their own country level. It is also very important to strengthen international cooperation and peer exchange and learning for digital financial inclusion. The G20 is committed to further help low income developing countries (LIDCs) to take action to advance digital financial inclusion in the spirit of the 2030 agenda.
- Customer and uses of digital payments
- Regulation of DFS
- Technology and operational enablers
- Webinars and Podcasts