Finance: what is the situation for unbanked customers?

 

With the finance industry booming, there are still countries that rely heavily on cash. Why is it that digital payment gateways are not picking up the pace there?  That is not exactly the case. In fact, in many developing regions, the majority of consumers are unbanked or underbanked. This means that they are unable to access traditional settlement solutions such as those linked to banks. Nonetheless, due to the high smartphone adoption rate, they have several more opportunities. For instance, they can opt for phone bill payment services.

Unbanked customers now have more opportunities © Royalty-free image