Project Description
The project helps increase access to banking services through developing
innovative and sustainable retail payments services as a point of entry
for low-income populations. It supports the development of innovative and
sustainable retail payment solutions using technologies such as mobile
phones, EFTPOS (electronic funds transfer/point of sale), and payment card
infrastructure to deliver payment services at low cost to the base of the
pyramid and other users. Objectives are to: 1) identify businesses
offering innovative payment solutions (two in Latin America, four South
Asia); 2) scale up successful work using the Mobile Money Toolkit,
developed with support from NIPP (Netherlands-IFC Partnership Program)
with at least two clients in East Asia and Pacific; 3) support development
of payment card infrastructure with at least one client; 4) expand the
Toolkit to apply to retail payment services beyond mobile phone banking
(such as cards and POS devices) through working with at least one client
globally; and 5) conduct eight knowledge management events. It is
anticipated that the global team will enable the regions to reach 3
million people.