Tag: digital channels

Measures such as social distancing to curb the spread of Coronavirus have handicapped people used to cash-to-cash transactions. Migrants and their families have not been spared. This blog focuses on the extent to which digital channels provide attractive alternatives and opportunities for partnerships between money transfer services, governments and FinTechs to ease this challenge.

Under the right circumstances, agency banking can reduce costs; it can assist a financial institution to on-board new customers.

Reserve Bank of India estimates that 96% of all the retail transactions in India are conducted using cash, leaving only about 4% payments on cash-less/digital channels.