Mexico joins the Better Than Cash Alliance
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Mexico's route to financial inclusion begins with commitment to reduce use of cash


The Government of Mexico announced its membership of the Better Than Cash Alliance the same week that President Enrique Peña Nieto launched his nation's new Financial Inclusion Policy. It includes calls for technological innovation, financial infrastructure for excluded areas, and reducing the use of cash. Digital payments continue to save the Government an estimated US$1.3 billion every year. The membership announcement was covered by top media outlets in the region including Notimex, Business Review América Latina, and the print edition of El Dia.

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FEATURED NEWS

BLOG

The Indian digital payments revolution

The proliferation of smartphones and internet access in the country are major drivers of the move towards a "less-cash" society in India. In his blog, the Alliance's Research Manager writes about the National Payments Corporation of India's new, unique interoperable payment system that requires just one single identifier for transactions. The Unified Payment Interface (UPI) is a breakthrough that will, with rapid adoption, usher in the digital payment revolution.
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INTERVIEW

"Dethroning cash as king": getting hyped about digital payments

Inside Philanthrophy's interview with Alliance Managing Director Ruth Goodwin-Groen focuses on how innovative digital payment ecosystems advance financial inclusion. She notes the importance to women of economic participation and the ownership of transaction accounts within the formal financial system. 
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Resources

REPORT

The risks of financial exclusion highlighted by G20 GPFI paper

The G20 Global Partnership for Financial Inclusion (GPFI) 2016 white paper is a call to action that recognizes the need for a better understanding of financial exclusion drivers. It makes two recommendations: First, that the Financial Action Task Force (FATF), the Financial Stability Board and other Standard-Setting Bodies (SSBs) should develop a common understanding of the risks of financial exclusion. Second, it states that SSBs should explore the development of a framework to assess the impact of financial sector regulation and institutional compliance practices on financial exclusion risks and their mitigation. 
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REPORT

Alliance featured in Anatalya outcome document

The Anatalya Comprehensive High-level Midterm Review of the Implementation of the Istanbul Programme of Action for the Least Developed Countries for the Decade 2011-2020 said that "We call for support for those partnerships and global alliances, such as the Better Than Cash Alliance and its institutional secretariat, the United Nations Capital Development Fund, that expand the reach and adoption of such tools in support of the 2030 Agenda for Sustainable Development and the Istanbul Programme of Action."
The Review also encourages the use of mobile banking and digital payments, recognizing the role these play in promoting financial inclusion. 
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In Focus

EU leaders say digital payments enable SDG implementation
Speakers at the European Development Days made clear that the digitization of payments is a key enabler for UN Global Goals implementation. Partnerships between companies, governments, and civil society are needed to achieve sustainable development and make digital financial services accessible for all.
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The importance of partnerships in humanitarian response

In Devex, Minister of Finance and Economic Development for Sierra Leone, Momodu Kargbo, talks about the importance of digital payments for his country's response to the Ebola crisis. The comment piece was re-published in over 60 global and African outlets.
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