Covid-19: Boon and bane for digital payments and financial inclusion

Highlights

• Authorities around the world have moved to encourage the use of digital payments in response to Covid-19. 

• Some of these measures facilitate the use of digital payments during lockdown, while others provide longer-term support for fintech players and financial innovation more broadly. 

• For emerging market and developing economies, the measures respond to the unexpected opportunity to further promote financial inclusion objectives through the use of technology. 

• To increase their effect, these moves should include measures to combat financial crime and protect consumers.

The views expressed in this publication are those of the authors and not necessarily those of the BIS.