Lessons from India: Payments and Financial Inclusion
This IDC study looks at the progress made in the Indian market regarding financial inclusion and how that market can offer guidance for other markets, financial institutions, and technology providers looking to reach the underserved. Building financial services products, especially payments, for underserved markets around the world offers vendors and financial institutions access to new revenue streams while providing those markets with access and security."Financial inclusion — reaching the unbanked with basic services that include payments — is an important step in bringing 2 billion consumers into the global, digital economy," said James Wester, research director for Worldwide Payment Strategies at IDC Financial Insights. "Those consumers represent an important resource that isn't being fully utilized as well as an untapped market for financial services."