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dc.titleResearch Insights: Does Adopting Digital Payment for Cash Transfers Improve the Financial Inclusion and Financial Well-Being of Low-Income Households?
dc.contributor.authorHoffmann, Bridget
dc.contributor.authorVera-Cossio, Diego A.
dc.contributor.authorHernández Romero, Karla
dc.contributor.authorPecha, Camilo
dc.contributor.orgunitDepartment of Research and Chief Economist
dc.coverageColombia
dc.date.available2024-06-21T00:06:00
dc.date.issue2024-06-21T00:06:00
dc.description.abstractSwitching from cash to direct deposits of recurrent government benefits into digital bank accounts reduces disbursement errors and increases access to benefits among eligible beneficiaries. Switching to direct deposits increases ownership of bank accounts, demand for formal loans, and ownership of loans from commercial banks among individuals without a financial history. Individuals without a financial history are less responsive to government encouragement to switch to direct deposits, even though adopting the technology has large potential benefits. There is no evidence of substantial or significant effects on savings, spending, trust in financial institutions, and other measures of financial well-being.
dc.format.extent4
dc.identifier.doihttp://dx.doi.org/10.18235/0013038
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/Research-Insights-Does-Adopting-Digital-Payment-for-Cash-Transfers-Improve-the-Financial-Inclusion-and-Financial-Well-Being-of-Low-Income-Households.pdf
dc.identifier.urlhttps://publications.iadb.org/publications/spanish/document/Perspectivas-de-investigacion-como-la-adopcion-de-pagos-digitales-en-las-transferencias-monetarias-mejora-la-inclusion-y-el-bienestar-financieros-de-los-hogares-de-ingresos-bajos.pdf
dc.language.isoen
dc.publisherInter-American Development Bank
dc.subjectDigital Technology
dc.subjectBank Loan
dc.subjectTransfer Program
dc.subjectSaving
dc.subjectHousehold Income
dc.subjectRemittance
dc.subjectCommercial Bank
dc.subjectIncome Distribution
dc.subjectSaving Account
dc.subjectFinancial Inclusion
dc.subjectDiversity and Inclusion
dc.subjectConditional Cash Transfer
dc.subjectScience and Technology
dc.subjectFintech
dc.subject.jelcodeD90 - Intertemporal Choice: General
dc.subject.jelcodeH53 - Government Expenditures and Welfare Programs
dc.subject.jelcodeI38 - Government Policy • Provision and Effects of Welfare Programs
idb.identifier.pubnumberIDB-CB-00933
idb.operationRG-K1415
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