Social Assistance Payments and the Role of Financial Services Providers
Over 1.5 billion people around the globe are participating in a government led cash transfer program to address the devastating economic impact of the COVID-19 pandemic. Digitizing social assistance transfers can offer an efficient and socially distant way to disburse cash while increasing access and usage of digital financial services. However, the rapid roll out of social assistance programs can also pose challenges to governments, ranging from recipient onboarding, cash liquidity management, and monitoring and exclusion, particularly of women. This session shared experiences from financial services providers in three different markets that are supporting government to person (G2P) payment programs in response to the COVID-19 pandemic. Attendees heard from their perspectives and the country context in which they are operating.