The move to digital has taken on a new accelerated emphasis since Covid-19. Contactless payments have risen exponentially; cash has reduced dramatically.

All well and good for the already banked! What about those billions who have no access to dial payments? Permits of foreign residents have expired. With the lockdown it is almost impossible to have these renewed. Their accounts are at risk of being frozen. What about potential new account holders whot cannot get the correct paperwork? I know of unbanked domestic workers who pay their satellite TV subscriptions in cash at the local supermarkets. They cannot get to the stores to pay their subscription, so their only form of entertainment is disconnected. This does not seem right at any level. Why can they not have a simple low cost bank account where any risks are mitigated through managing the limits on the accounts?  

It would appear that some regulators are being very open to an easier onboarding and account opening process  – we just have to get the banks on board.

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