Baby steps for E-Money in Latin America

A New Wave of E-Money in Latin America | CGAP

Governments in Latin America are slowly grasping the importance of e-money for financial inclusion. One can understand that financial regulators are not precisely the most entrepreneurial and risk-taking leaders, seeking to develop and enhance new markets. But finally we a re seeing a new wave of regulations that enable the emergence of e-money issuers. The key to success in my view, is to allow the entrance of non-banks to become issuers and be able to take deposits and issue accounts, that should be able to inter-operate with other payment networks. This is still a long shot away but at least the new regulations are pointing in the right direction. It will be interesting to monitor the developments of new players taking advantage of the new rules (if they are indeed audacious enough to entice financial inclusion through payments). It would be interesting to hear directly from these new players how they perceive the new rules and know what obstacles they still see in the regulatory horizon.

This entry was posted in emoney, Financial inclusion, Interoperability, Regulation and tagged , . Bookmark the permalink.

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