Considerable effort and funding has gone to digitizing payments across Africa and Asia in markets where mobile money services are rapidly growing. One sector receiving considerable attention is agriculture. The GSMA has a unit dedicated to agriculture (mAgri), which includes a focus on payments. The World Bank's CGAP allocates resources to grants and technical assistance on the topic. And the Better Than Cash Alliance works with governments to implement digital payments at the national level. Convincing agri-enterprises that sell inputs to, or buy crops from, rural communities to embrace digital payments is seen as a potential path to de-throning cash--the undisputed king of commerce in emerging markets.
On his sixteenth birthday the boy gets a horse as a present. All of the people in the village say, "Oh, how wonderful!"
The Zen master says, "We'll see."
In February, Shelley Spencer and Nicholas Lesher traveled to New Delhi to launch a report on the distinct financial attitudes, abilities, and behavior patterns of the emerging middle class (EMC).
Achieving the dream of a digital economy is a daunting task for a country of 1.2 billion, but one that is evidently underway.
SIA has published a report on the design and execution of a market research study in Ghana and Côte d’Ivoire that determined the demand for digital financial services in the cocoa value chain with an emphasis on farmer financial inclusion and the potential of mobile money to enhance farmers’ livelihoods.