Innovation in Electronic Payment Adoption: The case of small retailers

Produced by: 
The World Bank
Available from: 
June 2016
Paper author(s): 
World Bank Group’s (WBG) Finance & Markets Global Practice team
World Economic Forum’s Financial Services Industry team
Institutions and Development

This report aims to deepen the understanding of barriers to and incentives for the acceptance and use of electronic payments, from the perspective of micro, small and medium retailers (merchants). Developing and accelerating acceptance of electronic payments by these merchants is essential to expanding financial access. A basic transaction account for payments and deposits is considered an entry point to the formal financial system, and can act as a gateway for individuals to adopt other relevant financial services they need to smooth their consumption and manage income shocks. However, equipping individuals with only basic transaction accounts is not sufficient. The use case for payment services becomes increasingly effective as individuals gradually move to a cashless economy, where electronic payments are widely accepted for regular and frequent purchases.


Research section: 
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