As Measure 5.1.4 of the Pacific Regional E-commerce Strategy and Roadmap points out, fintech solutions like mobile money and digital currencies are transforming remittances by reducing costs, increasing transparency, and expanding financial inclusion. These innovations help the unbanked participate in online commerce and enable MSMEs to receive payments despite strict banking regulations. Given that remittances are a major source of foreign exchange, their role in supporting livelihoods has become even more critical, especially during COVID-19.
Usage of fintech-based solutions for transferring remittances
Pacific Regional
About the Program
Start and End Date
January
2021
-
Not Available
Geographical Focus
Pacific Regional
Main Beneficiary
Government and Private Sector
Status
Active
Donors
N/a
Budget
$0
Policy Area
PA5. Electronic Payment Solutions
Strategic Output
- 5.1. Non-bank digital payment solutions for E-commerce are deployed across the Pacific
SDGs
