{
  "title": "Banking On the Go",
  "publication": "IMF Blog, June 23, 2017",
  "sourceUrl": "https://www.imf.org/en/blogs/articles/2017/06/23/banking-on-the-go",
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  "summary": "Publication date: June 23, 2017",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Publication date: June 23, 2017\n- Topic: Mobile banking and digital financial inclusion, focused on Paga, a Nigeria-based mobile payment platform founded in 2012.\n- Key message: Paga is rapidly bringing millions of unbanked Nigerians into the banking fold and influencing national discussions on regulation, privacy, and financial data collection."
    },
    {
      "heading": "Scale and access to financial services",
      "content": "- Worldwide, more than two billion people are without bank accounts.\n- Only one in three adults in sub-Saharan Africa has access to any type of financial services.\n- Paga reports having six million customers who are using its services to perform transactions on a daily basis."
    },
    {
      "heading": "Impact on Nigeria’s economy and labor market",
      "content": "- Paga has risen to the center of economic activity in Nigeria since it started in 2012.\n- The platform is helping to provide jobs and expand access to financial services, particularly among youth."
    },
    {
      "heading": "Demographics and user behavior",
      "content": "- About 54 percent of Nigeria’s population are below the age of 33.\n- Younger users are described as more comfortable online, while adults are more likely to prefer going to an agent for services."
    },
    {
      "heading": "Data, privacy, and regulation",
      "content": "- Paga collects substantial financial data on its mobile platform.\n- Key policy considerations highlighted:\n  - The need to think about privacy and the correct handling of collected data.\n  - Ensuring that regulation protects people.\n  - Using data collection to inform improvements in banking regulations and privacy and protection laws."
    },
    {
      "heading": "Outreach and further discussion",
      "content": "- Reference to a webcast of the IMF/World Bank 2017 Spring Meetings seminar on digital financial inclusion in Africa.\n- Mention of IMF Managing Director’s recent blogs on financial technology—fintech.\n\nSource: Banking On the Go (IMF blog), June 23, 2017.\n\n---\n\n\n References\n\n- https://www.imf.org/wp-content/uploads/2017/06/Tayo-Oviosu300x205Ryan-Rayburn-IMFFlickr.jpg\n- digital financial inclusion in Africa\n- financial technology\n- fintech\n\nSource: https://www.imf.org/en/blogs/articles/2017/06/23/banking-on-the-go"
    }
  ],
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    "Authors: The Editors",
    "Published: June 23, 2017",
    "Publication date: June 23, 2017",
    "Topic: Mobile banking and digital financial inclusion, focused on Paga, a Nigeria-based mobile payment platform founded in 2012.",
    "Key message: Paga is rapidly bringing millions of unbanked Nigerians into the banking fold and influencing national discussions on regulation, privacy, and financial data collection.",
    "Worldwide, more than two billion people are without bank accounts.",
    "Only one in three adults in sub-Saharan Africa has access to any type of financial services.",
    "Paga reports having six million customers who are using its services to perform transactions on a daily basis.",
    "Paga has risen to the center of economic activity in Nigeria since it started in 2012.",
    "The platform is helping to provide jobs and expand access to financial services, particularly among youth.",
    "About 54 percent of Nigeria’s population are below the age of 33.",
    "Younger users are described as more comfortable online, while adults are more likely to prefer going to an agent for services.",
    "Paga collects substantial financial data on its mobile platform.",
    "Key policy considerations highlighted:",
    "Reference to a webcast of the IMF/World Bank 2017 Spring Meetings seminar on digital financial inclusion in Africa.",
    "Mention of IMF Managing Director’s recent blogs on financial technology—fintech.",
    "[https://www.imf.org/wp-content/uploads/2017/06/Tayo-Oviosu_300x205_Ryan-Rayburn-IMF_Flickr.jpg](https://www.imf.org/wp-content/uploads/2017/06/Tayo-Oviosu_300x205_Ryan-Rayburn-IMF_Flickr.jpg)",
    "[digital financial inclusion in Africa](http://www.imf.org/external/POS_Meetings/SeminarDetails.aspx?SeminarId=216)",
    "[financial technology](https://blogs.imf.org/2017/06/20/fintech-capturing-the-benefits-avoiding-the-risks/)",
    "[fintech](https://blogs.imf.org/2017/03/21/fintech-a-brave-new-world-for-the-financial-sector/)"
  ],
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