Why digital payments are not replacing cash

Categories : Customer and Users of Digital Payments, Financial inclusion


Author: Cenfri

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 six MAP countries are using digital instruments to meet their payment needs and cash remains the preferred payments options. Read more here.