Digital Payment Transactions

Digital payment transactions have vastly increased the financial sector’s reach, enabling the financial inclusion of many people previously deemed unbankable through instantaneous and convenient access to loans, savings and insurance. Digital payment systems further contribute to combatting corruption, money laundering and terrorist financing by improving transparency and efficiency. To achieve these goals, private sector stakeholders play a key role in developing appropriate, innovative solutions for digital payments and must constantly adopt their designs so that new pathways of interoperability can be realized.

This factsheet argues for the need of active design and cooperation for inclusive payment transactions and makes related recommendations for stakeholders in international development cooperation.