The goal of financial inclusion is for account owners to benefit from the use of accounts for digital payments, savings, and appropriate credit because such uses provide a range of positive benefits far beyond convenience. Account holders, and especially women, enjoy greater financial security and greater privacy. They have more control over how their money is spent, and often make bigger investments not only in nutritious food and in household resources that benefit them, but also in education, healthcare, and in income-generating businesses.
Given these benefits, there is more good news in the Global Findex 2021 survey, which shows growth in the use of accounts to make digital payments, as well as to save and borrow, and highlights the ways in which these financial services overlap in the broader financial ecosystem. The key findings are as follows:
- The share of adults making or receiving digital payments in developing economies grew from 35 percent in 2014 to 57 percent in 2021—an increase that outpaces growth in account ownership over the same period.