A billion more digital users. Or a lost opportunity. Which shall it be?

The next billion adopters of digital payments are slow to trust. Financial shocks hit them harder. Risking a family’s livelihood on an app takes trust. Governments can guide actors along a roadmap to digital financial inclusion.

How best can governments legislate, minister and regulate for tomorrow?

The Principles highlight six good practices helping governments deliver a more prosperous future.

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What can GOVERNMENTS do?

Lead by example

Embed in legislation the responsible digitalization of government and national payments. Aside from the scale of the proposition – which encompasses national G2P, G2B and P2G payments – this sets a powerful and modernizing precedent.

Act as the trusted mentor

Governments can work with trusted local community networks to create public awareness campaigns addressing issues of phishing, spoofing and social engineering. Government messaging can educate users away from risky digital payment behavior.

Build transparency on recourse platforms

Governments can delegate intercessory powers to regulators to curtail unethical practices that undermine trust. Helplines can interface with providers to ensure full transparency of the redress process.

Collaborate across government for interoperability

User choice can be championed by requiring interoperability to be at the very heart of all government programs. Siloed services are no longer fit for purpose. For a digital payments ecosystem to flourish, users must be able to move their funds freely across platforms, providers, networks and users.

Ensure unbiased technologies

Governments are uniquely positioned to collaborate to regulate new technologies, such as AI, responsibly to prohibit systemic biases against vulnerable populations.

Promote accountability along the value chain

Recognize that modern accountability sits with all actors.

Governments can recognize the shifting burden of accountability from the user to the provider. Regulatory adjustments can reflect this by holding the supply chain accountable. The subsequent surge of user trust will supercharge adoption.