Payment aspects of financial inclusion

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The Payment aspects of financial inclusion (PAFI) report was developed under the guidance of CPMI and the World Bank Group, by a task force consisting of representatives from CPMI central banks, non-CPMI central banks active in financial inclusion, and international financial institutions.
 

The report features seven guiding principles: (i) commitment from public and private sector organizations; (ii) a robust legal and regulatory framework underpinning financial inclusion; (iii) safe, efficient and widely reachable financial and ICT infrastructures; (iv) transaction accounts and payment product offerings that effectively meet a broad range of transaction needs; (v) availability of a broad network of access points and interoperable access channels; (vi) effective awareness and financial literacy efforts; and (vii) the leveraging of large-volume and recurrent payment streams, including remittances, to advance financial inclusion objectives. All these guiding principles are complemented by concrete key actions. 

 

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World Bank Group and Bank for International Settlements

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