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CGAP-DFID Report Finds Government Payments Could Help Kick-start Financial Services for the Poor

Date: 
February 2010
Author: 
PR Newswire
Publisher: 
SOA World Magazine
Abstract: 

A new report from World Bank-based microfinance group CGAP and the UK's Department for International Development (DFID) shows that more than 170 million poor people worldwide receive regular payments from their governments, but the potential to use these payments to increase financial inclusion is largely untapped.

"Banking the Poor via G2P Payments" shows that despite the pioneering programmes in Brazil, India, Mexico and South Africa, fewer than one-quarter of government-to-person (G2P) payments to the poor worldwide land in a financially inclusive account, i.e. one that enables recipients to store funds, make or receive payments from other people in the financial system, and is accessible, in terms of cost and distance. "Often these transfers are made in cash or with a debit card that can only be used to withdraw funds. By using payments on a card, cell phone or a no frills bank account, governments could empower people with access to financial services well beyond the receipt of a government payment," said CGAP CEO Elizabeth Littlefield.

A new report from World Bank-based microfinance group CGAP and the UK's Department for International Development (DFID) shows that more than 170 million poor people worldwide receive regular payments from their governments, but the potential to use these payments to increase financial inclusion is largely untapped.

Country: 

Country:
Brazil

Country:
South Africa

Bank-based group brings bank services to isolated and poor

Date: 
September 2007
Organisation: 
World Bank

This press release highlights a new $26 million technology programme, co-financed by the Bill and Melinda Gates Foundation and implemented by CGAP, to look at how technology can be used to bring access to financial services to poor people in rural areas. Pilot programmes are underway in Colombia, Kenya, Maldives, Pakistan, the Philippines and South Africa.

Country: 
Country:
Colombia
Country:
Kenya
Country:
Maldives
Country:
Pakistan
Country:
Philippines
Country:
South Africa

Cash 22-Social protection not for the unbanked?

Date: 
November 2008
Author: 
Zimmerman J
Publisher: 
New America Blogs-The Ladder

This blog entry highlights the difficulty of using account-based delivery systems in countries where access to financial infrastructure is limited. It elaborates with the example of a Cape Town gardener who is struggling to access his right to unemployment insurance payouts based on him not having a bank account into which to receive the payments.

Country: 
Country:
South Africa

New technology has potential to provide millions with financial access

Date: 
February 2009
Organisation: 
Department for International Development (DFID)

DFID announces a new initiative to promote "branchless banking" amongst the world's poor.

FAST (Facilitating Access to financial Services through Technology) is a new initiative to support the use of technology and innovation to bring financial services to millions of "un-served" people across the globe. FAST will:

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Banking conference to focus on new technologies

Date: 
February 2009
Author: 
Bonyo J
Publisher: 
Daily Nation

A conference on banking technology begins in Nairobi on Tuesday morning as banks aggressively move into technology to improve their service delivery. Dubbed the Banking and Payment Technologies East Africa, 2009, the conference, organised by Aitec Africa, will bring together banking industry players and technology service providers with the focus on recent innovation in banking and payment systems in the region.

Country: 
Country:
Kenya
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