2016年-世界发展银行全球_Innovation_in_Electronic_Payment_Adoption___The_Case_of_Small_Retailers_52页_15mb

Summary of "Innovation in Electronic Payment Adoption: The case of small retailers"

Core Content

This report explores the challenges and opportunities related to the adoption of electronic payment services by small and medium-sized merchants (MSMRs) globally. It emphasizes the importance of small retailers in financial inclusion and highlights the significant market opportunity for expanding electronic payments.

Main Viewpoints

Importance of Small Retailers for Financial Inclusion

• Small retailers are at the intersection of the cash economy and can help drive the adoption of electronic payments among consumers.
• They are crucial for financial access and inclusion, as they contribute to job creation and economic growth.
• Despite progress in financial access, many small retailers in developing economies still predominantly use cash for transactions.

Market Opportunity

• The global market opportunity for electronic payments among MSMRs is estimated at $19 trillion in 2015, with only $15 trillion being made electronically.
• This includes three types of payments: person-to-business (P2B), business-to-person (B2P), and business-to-business (B2B).
• Non-grocery retailers tend to use electronic payments more frequently than grocery retailers.

Constraints on Adoption

• Six major constraints hinder the adoption of electronic payments by small retailers:
  1. Inadequate value proposition for electronic payments.
  2. Weak product and stakeholder economics in traditional card models.
  3. Insufficient aggregate customer demand.
  4. Inconsistent technological and regulatory environments in developing markets.
  5. Ineffective distribution models for hard-to-reach merchants.
  6. Difficulty in formalizing enterprises and reluctance to pay full taxes.

Key Information

Innovation Insights

1. Comprehensive Business Solutions: Platforms like Square provide integrated solutions that help small retailers manage their operations more efficiently.
2. Non-Card Payment Models: In developing markets, non-card payment models are emerging to cater to the specific needs of small retailers.
3. Use of Data: Startups like Kopo Kopo leverage big data analytics to offer value-added services such as short-term loans.
4. Supplier's Role: Suppliers benefit significantly from electronic payments, as they reduce operational costs and improve cash management.
5. Partnerships: Non-traditional actors such as fast-moving consumer goods companies are partnering with traditional payment service providers to expand electronic payment adoption.

Benefits of Electronic Payments

• For Retailers:
  • Security: Electronic payments reduce the risk of theft and fraud.
  • Business Insights: Enable better tracking of cash flows and profit and loss.
  • Revenue Streams: Allow access to new digital financial services.
  • Value-Added Services: Include loyalty programs, credit, and marketing support.
• For Customers:
  • Simpler payment methods if they already use transaction accounts.
  • Savings through loyalty schemes and promotions.
  • Increased purchasing power via revolving credit lines.
  • Better spending tracking and budget management.
  • Access to credit through transaction history and data trails.
• For Suppliers:
  • Lower operational and risk costs.
  • Improved liquidity management for retailers.
  • Enhanced infrastructure for marketing and sales incentives.
  • Reduced frequency of large orders from retailers.
• For PSPs and Collaborators:
  • Revenue from payment and adjacent services.
  • Cross-selling opportunities.
  • Better performance monitoring.
  • Potential for revenue sharing or selling adjacent services.
• For Governments:
  • Better monitoring of consumer spending and retail trends.
  • Expansion of financial access and inclusion.
  • Growth of tax base through formalization of MSMEs.
  • Reduction of leakage and increase in economic output.

Global Market Sizing

• P2B Payments: $18.8 trillion globally, 37% electronic.
• B2B Payments: $13.4 trillion globally, 53% electronic.
• B2P Payments: $2 trillion globally, 50% electronic.
• Total: $34 trillion globally, with $15 trillion in electronic and $19 trillion in cash and checks.

Conclusion

The report outlines several catalytic actions for industry and policy-makers to drive the adoption of electronic payments among small retailers. These include creating tailored solutions, leveraging data, and forming public-private partnerships. The findings suggest that while challenges remain, the potential for innovation and impact is substantial, and addressing these constraints is essential for advancing financial inclusion and economic development.