THE IMPACT OF DIGITAL FINANCE AND FINTECH ON FINANCIAL INCLUSION AND THE EMERGENCE OF DFS PROVIDERS

Abstract

Since 2010, the G20 and the World Bank have initiated increasing financial inclusion as a factor for reducing the poverty, especially in developing countries. In this period that we are witnessing the governments of several developed countries through their financial regulatory system with issued "ultimatums" forced individuals and a number of attractive businesses to use digital financial services. By setting limits on daily cash payments, charging high fees for raising cash above a certain amount, etc., they enjoy the benefits of financial inclusion and digital finance. Is everything new and publicly primarily marketed as a source of well-being? For countries around the world with the term "voluntary", due to the interest of certain "privileged" entities to get the opposite meaning? Whose welfare is improving and for what purposes is it used? What about the non-banking population? Can we predict the outcome is analyzed in this paper.
Key Words: financial inclusion, Fintech, digital finance, DFS.
JEL classification: O31, G0