Our goal in promoting digital equity is to reach the point at which all individuals and businesses can participate in and receive the benefits of using digital payments.
The current landscape: Financial inclusion remains a challenge
Our research has shown that during the pandemic, the individuals and small businesses that were able to access and use digital technology and make digital payments have weathered the crisis better than others.
However, significant barriers still prevent some businesses and individuals from receiving the full benefits of simple and secure digital payments.
The foundations
In evaluating the policies that can contribute to our goal of financial inclusion for all, it’s essential to understand two terms: enablement and ecosystem.
Enablement
Enablement refers to giving someone the authority or means to do something. It can be knowledge, a new skill, resources, or any combination of these that can lead to equity in opportunity.
Ecosystem
Ecosystem refers to the infrastructure, human networks, governance frameworks, and ownership structures that interact in today’s hyperconnected digital world.
Let’s talk about how we talk about interoperability
Using common goals and metrics for technical, network, and regulatory interoperability is an essential next step toward the ultimate goal of a more equitable and inclusive payment system.
Unlocking the benefits of digital payments for micro and small businesses: Insights from Mexico
A survey of small business owners in Mexico demonstrates that being connected to digital payments and commerce increases small business resilience and growth.
Small business in the digital age: Recommendations for recovery and resilience
A survey of small businesses in Brazil, Colombia, Malaysia, the Philippines, and South Africa found that embracing digital and cross-border capabilities helped them to better weather the pandemic.
Supporting social equity by boosting small businesses: What economic history can teach us
Helping Black-owned businesses to survive, recover, and thrive has never been more important—and it makes economic and business sense.
Keeping the lights on for small businesses: Safeguarding the payments ecosystem during the pandemic
The increase of digital commerce has also increased the opportunities for cyber criminals, but there are practical steps that small businesses can take to mitigate the risks.
Expanding opportunities through enhanced equity
Two foundational elements—“enablement” and “ecosystems”—interact to affect how people, small businesses, and communities use and benefit from digital payments and technology.
Get in touch
Please reach out and connect with us on our research. We look forward to hearing from you.
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