Hidden constraints to digital financial inclusion: the oral-literate divide. Issue 8 (17th November 2019)

• Record Type: Journal Article
• Authors: Matthews, Brett Hudson
• Is Part Of: Development in practice. Volume 29:Issue 8(2019)
• Page Start: 1014
• Page End: 1028
• Publication Date: 2019-11-17
• Subjects: Gender and diversity -- Labour and livelihoods – Microfinance -- Technology -- Sub-Saharan Africa -- East Asia; Technical assistance -- Developing countries -- Periodicals; Economic assistance -- Developing countries -- Periodicals; Developing countries -- Economic conditions -- Periodicals; 338.91091724
• DOI: 10.1080/09614524.2019.1654979
• Languages: English
• ISSNs: 0961-4524

Abstract

ABSTRACT: The vision that digital finance can achieve universal financial inclusion is premised on the rarely questioned assumption that the world is rapidly moving towards universal literacy and numeracy. In fact, text and arithmetic notation shape the relationship between formal finance and about a billion of the world's poorest adults. This "oral" population, stranded outside the reach of formal employment, have neither the capabilities nor the incentives to engage in digital finance as it is currently being offered. Empirical observation of the actual capabilities and incentives of oral adults can offer transformative solutions for mobile wallet providers, NGO projects, designers and governments.