E-Payments in Microfinance

Abstract

The integration of e-payment systems in digital microfinance marks a pivotal intersection between financial inclusion and fintech innovation. This chapter traces the evolutionary trajectory of e-payment methods, from their origins to contemporary tools like mobile wallets. It underscores the profound benefits of these platforms, emphasizing unparalleled accessibility, efficiency, and benefits for underserved regions. However, merging technology with finance presents challenges, including limited adoption, technological barriers, and regulatory complexities. The chapter highlights the RBI's regulatory role, showcasing how e-payment platforms are reshaping the microfinance sector through real-world examples. Ultimately, it advocates for these platforms as essential drivers for achieving comprehensive financial inclusion.