453 records from EconBiz based on author Name

1. The importance of financial education for the effective use of formal financial services

abstract

This paper examines global data on unbanked and underbanked consumers to highlight the role improved financial literacy and capability could play in motivating and enabling the safe and beneficial use of financial services. The paper uses Global Findex data, a demand-side survey on ownership and use of accounts at formal financial institutions, such as a bank or similar financial institution, or a mobile money service provider. The paper reviews the self-reported barriers to account ownership and use cited by unbanked adults and identifies the challenges faced by account owners who could not use an account without help. Together, these issues point to the importance of financial education to improve digital and financial literacy skills, in addition to product design that considers customer abilities, and strong consumer safeguards to ensure that customers benefit from financial access.

Ansar, Saniya; Klapper, Leora; Singer, Dorothe;
2023
Type: Aufsatz in Zeitschrift; Article in journal;
Availability: Link

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2. How digital payments can benefit entrepreneurs : digital payments can effectively connect entrepreneurs with banks, employees, suppliers, and new markets

abstract

Digital payment systems can conveniently and affordably connect entrepreneurs with banks, employees, suppliers, and new markets for their goods and services. These systems can accelerate business registration and payments for business licenses and permits by reducing travel time and expenses. Digital financial services can also improve access to savings accounts and loans. Electronic wage payments to workers can increase security and reduce the time and cost of paying employees. Yet, there are challenges as many entrepreneurs and employees lack bank accounts, digital devices, and reliable technology infrastructure.

Klapper, Leora;
2023
Type: Graue Literatur; Non-commercial literature;
Availability: Link Link

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3. Financial Inclusion and Economic Development

abstract

This paper reviews the impact of financial inclusion on economic development outcomes. It highlights the benefits of financial inclusion, including greater savings, improved resilience to economic shocks, and higher levels of economic empowerment, among others. It looks deeper into both the effects of financial inclusion on marginalized groups, like women and the poor, while also examining the impacts of different types of financial instruments, like digital payments and financial accounts. The paper further explores the role that government payment programs and regulatory actions can play in inducing greater financial inclusion, highlighting the need for more policies, products, and incentives to promote greater adoption of financial services for sustainable development

Ansar, Saniya; Klapper, Leora; Singer, Dorothe;
2025
Availability: Link

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4. Expanding Financial Inclusion through Digital Financial Services

abstract

Worldwide, account ownership increased by 50 percent in the 10 years spanning 2011 to 2021, to reach 76 percent of the global adult population. The goal of financial inclusion is not just for more adults to have accounts but for account owners to benefit from using them, such as for digital payments, which provide a range of positive benefits that extend far beyond convenience. This paper reviews the evidence demonstrating how digital payments can expand financial inclusion among recipients and encourage the use of additional formal financial services, such as savings, credit, and insurance. It explores how digital transactions offer greater security and privacy, especially for women, as well as opportunities to build a digital credit history for credit risk assessments. The introduction of digital payments to low-income adults brings some risks, however, such as fraud and phishing scams targeting accounts, over indebtedness in digital credit, and customers receiving incomplete or incorrect information on the fees and costs of financial products

Klapper, Leora;
2024
Availability: Link

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5. How digital payments can benefit entrepreneurs

Klapper, Leora;
2023
Type: Article;
Availability: Link

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6. Learning to Navigate a New Financial Technology : Evidence from Payroll Accounts

abstract

How do inexperienced consumers learn to use a new financial technology? We present results from a field experiment that introduced payroll accounts in a population of largely unbanked factory workers in Bangladesh. In the experiment, workers in a treatment group received monthly wage payments into a bank or mobile money account while workers in a control group continued to receive wages in cash, with a subset also receiving an account without automatic wage payments. We find that exposure to payroll accounts leads to increased account use and consumer learning. Those receiving accounts with automatic wage payments learn to use the account without assistance, begin to use a wider set of account features, and learn to avoid illicit fees, which are common in emerging markets for consumer finance. The treatments have real effects, leading to increased savings and improvements in the ability to cope with unanticipated economic shocks. We conduct an additional audit study and find suggestive evidence of market externalities from consumer learning: mobile money agents are less likely to overcharge inexperienced customers in areas with higher levels of payroll account adoption. This suggests potentially important equilibrium effects of introducing accounts at scale

Breza, Emily; Kanz, Martin; Klapper, Leora;
2023
Availability: Link

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7. The Importance of Financial Education for the Effective Use of Formal Financial Services

abstract

This paper examines global data on unbanked and underbanked consumers to highlight the role that improved financial literacy and capability could play in motivating and enabling the safe and beneficial use of financial services. The paper uses data from Global Findex, a demand-side survey on ownership and use of accounts at formal financial institutions. The paper reviews the self-reported barriers to account ownership and use cited by unbanked adults, and identifies the challenges faced by account owners who could not use an account without help. Together, these issues point to the importance of financial education to improve digital and financial literacy skills, in addition to product design that considers customer abilities, and strong consumer safeguards to ensure that customers benefit from financial access

Ansar, Saniya; Klapper, Leora; Singer, Dorothe; Singer, Dorothe;
2023
Availability: Link

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8. Learning Through Social Networks : How Workers Optimize the Use of Fintech for Remittances

abstract

We use data from a leading fintech firm in Korea, including transaction-level data on international remittance payments to developing Asia and referral data among users, to study the role of social networks in helping low-income workers optimize their use of a new technology. Our study shows how experience using a desirable fintech feature--an order cancellation option--helps workers optimize the timing of the exchange rate applied to their transactions. Overall, we find that workers' personal experience using the fintech, and the experience of the worker's social network, increase the frequency and efficiency of workers' use of the feature

Agarwal, Sumit; Cho, Sangheum; Choi, Hyun-Soo; Klapper, Leora;
2022
Availability: Link Link

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9. The Global Findex Database 2021 : Financial Inclusion, Digital Payments, and Resilience in the Age of COVID-19

abstract

The fourth edition of the Global Findex offers a lens into how people accessed and used financial services during the COVID-19 pandemic, when mobility restrictions and health policies drove increased demand for digital services of all kinds. The Global Findex is the world's most comprehensive database on financial inclusion. It is also the only global demand-side data source allowing for global and regional cross-country analysis to provide a rigorous and multidimensional picture of how adults save, borrow, make payments, and manage financial risks. Global Findex 2021 data were collected from national representative surveys of about 128,000 adults in more than 120 economies. The latest edition follows the 2011, 2014, and 2017 editions, and it includes a number of new series measuring financial health and resilience and contains more granular data on digital payment adoption, including merchant and government payments. The Global Findex is an indispensable resource for financial service practitioners, policy makers, researchers, and development professionals

Ansar, Saniya; Demirguc-Kunt, Asli; Klapper, Leora; Singer, Dorothe;
2022
Availability: Link

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10. The Global Findex Database 2021 : Financial inclusion, digital payments, and resilience in the age of covid-19

abstract

The fourth edition of Global Findex--the world's most comprehensive database on financial inclusion--offers a lens into how people accessed and used financial services during COVID-19, when mobility restrictions and health policies drove increased demand for digital services of all kinds. Published every three years since 2011, Findex is the only global demand-side data source allowing for global and regional cross-country analysis to provide a rigorous and multidimensional picture of how adults save, borrow, make payments, and manage financial risks. Findex 2021 data were collected from national representative surveys of about 130,000 adults in more than 120 economies. The latest edition includes new series measuring financial health and resilience and contains more granular data on digital payments adoption, including merchant and government payments. The Global Findex is an indispensable resource for financial service practitioners, policy makers, researchers, and development professionals--

Demirguc-Kunt, Asli; Ansar, Saniya; Klapper, Leora; Singer, Dorothe;
2022
Availability: Link

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