Briefing
How Much Do Nonbank Transaction Accounts Improve Access to Digital Payments for Unbanked Households?
Abstract: Nonbank transaction accounts—such as prepaid card accounts or accounts with online payment service providers—can help unbanked households make safe and affordable digital payments. But data suggest that they may not be sufficient to achieve digital payments inclusion. Less than half of unbanked households had these accounts in 2021; the rest either used paper-based transaction products or relied solely on cash.
Keywords: digital payments; transactions; prepaid cards;
Access Documents
File(s):
File format is application/pdf
https://www.kansascityfed.org/Payments%20Systems%20Research%20Briefings/documents/9919/PaymentsSystemResearchBriefing23Toh1129.pdf
Description: Full Text
Authors
Bibliographic Information
Provider: Federal Reserve Bank of Kansas City
Part of Series: Payments System Research Briefing
Publication Date: 2023-11-29
Pages: 9