Bringing E-money to the Poor: Successes and Failures

Abstract

now retired, was sector coordinator and lead specialist of the World Bank's Finance and Markets Global Practice, South Asia region. Over a 30-year career at the World Bank, she served in several corporate management, knowledge management, and lead financial sector specialist positions in several regions of the world, including Africa, Latin America and the Caribbean, and Middle East and North Africa. As the knowledge manager for the Micro, Small Enterprise, and Rural Finance Thematic Group, she led knowledge-sharing engagements that brought together leading international microfinance practitioners with African country leaders, policy makers, and donors interested in learning from the bestpractitioners themselves. Riley also led several projects and knowledge-sharing engagements with the South African government during the postapartheid development of the country's policy framework for micro and small enterprises. She has written extensively about lessons learned from high-impact development interventions, focusing on approaches that have mainstreamed access by the poor to financial services through innovative means including traditional microfinance and digitally enabled financial services. She was a visiting fellow in finance at the Sloan School of Management, Massachusetts Institute of Technology. Riley holds a bachelor's degree in development economics from Stanford University and a master's degree in public and international affairs from Princeton University.

A Multijurisdictional Assessment of the Banking System and Mobile Money Services in Coping with the Pandemic-Triggered Credit Crisis

“…Apart from the Evans and Pircho (2015) study, more recent studies on the same subject-matter endorse the view that the best type of regulation of mobile payment services is one which allows for some flexibility that might result to an alliance between a financial institution and a mobile network operator, combining their brands to further inspire confidence from the consumer public (Riley & Kulathunga, 2017). This is because most times, the mobile network operators make up for where their bank counterparts' identity fails especially in rural areas where a mobile network operator is likely to enjoy familiarity and network because of airtime services compared to their financial institution counterparts whose banking services maybe largely unknown due to lack of presence.…”

Understanding E-Money Preferences Among Students: A Case Study at FEBI UIN Ar-Raniry, Banda Aceh, Indonesia

“…It encompasses various forms of digital currency, such as mobile wallets, prepaid cards, cryptocurrencies, and more [1][2][3][4][5][6][7]. E-money enables individuals and businesses to conduct transactions, pay bills, and make purchases online or in physical stores seamlessly [8]. It has gained significant traction globally, challenging traditional cash-based systems and contributing to the evolution of the financial industry [9,10].…”