Taking Digital Payments to the Last Mile
June 30, 2016
8:30 am-4:00 pm
Embassy Suites, Calle 70 No 6-22
Opening & Keynotes
Welcome: Fernando Henao, Grameen Foundation
Marcela Carrasco, President of Colombia and Ecuador, MasterCard
Sandy Fernandez, Senior Director of Global Programs, MasterCard Center for Inclusive Growth
PANEL #1: Building a Digital Ecosystem to Serve the Poor: A Macro View
Moderator: Juan Felipe Quintero, Director of Sustainable Rural Development, National Planning Department, Colombia
Maria del Pilar Galindo, Deputy Technical Director, Financial Regulation Unit, Ministry of Finance and Public Credit, Colombia
Carlos Moya, Regional Coordinator Latin America and the Caribbean, Alliance for Financial Inclusion
Jose Sanin, Latin America Regulatory Specialist for Digital Financial Services, GSMA
To drive nationwide financial inclusion, the Government of Colombia has passed legislation to promote digital payments and has made formal commitments toward reducing the use of cash. Several outstanding barriers must still be addressed, however, to create a widespread and active digital ecosystem. These include ensuring interoperability to enable users to conduct transactions across different digital payments platforms and networks; developing client-centric products and services that offer rural clients a compelling incentive to use digital channels; and establishing the value proposition for merchants and consumers to transition from cash to digital payments. This panel will explore next steps and opportunities for progress on these issues.
PANEL #2: Adopting Digital Payments Technology in Rural Areas: Perspectives from Implementers (An institutional perspective)
11:45 a.m.-1:00 p.m.
Moderator: Camila Pérez, Director of Macroeconomic and Sectoral Analysis, Fedesarrollo
Pablo Garcia Arabehety, Regional Representative for Latin America and the Caribbean, CGAP
Juan Forero, Banking Specialist, Chemonics (working on USAID rural financial initiative)
David Villegas, Executive Director, Fundacion Salvaterra
The majority of Colombia’s 13 million poor citizens live in rural areas, are engaged in agriculture, and remain outside the formal financial system. Digital tools can enable the delivery of financial services to remote populations by providing services that are safer, faster, and more accessible than cash transactions. In addition, the transparency offered by digitized ecosystems can create more inclusive value chains. Progress made with initial implementations in Colombia has been tempered by several challenges. In some cases, high costs create barriers to adoption by both end users and providers. In other cases, a range of participants across a value chain must be engaged to successfully enable the full adoption of digital tools. Across digital systems, trust must be earned—implementers must invest in sensitization and trust-building efforts to encourage new users of DFS to make the transition from cash. This panel will address key drivers for success, barriers to adoption, and investments needed to support a rurally-focused model.
LUNCH - 1:00-2:00 p.m.
PANEL #3: Lessons Learned on Driving Use of Digital Payments in Other Markets: Cases from International Practitioners (A global perspective)
Moderator: Beatriz Marulanda, Associate, Marulanda Consultants
Sonia Arenaza, Latin America Regional Lead, Better Than Cash Alliance
Caitlin Burton, Senior Manager, Business Development, Africa, Grameen Foundation
Sandra Calderon, Channels Manager, ACCION
Across the globe, digital financial ecosystems have scaled in many markets. Today, there are more mobile money accounts than bank accounts in 16 countries. Though market environments and resulting implementation models differ, digital financial services ecosystems often face similar barriers to scale. In each market, institutions have had to identify commercial drivers that will enable a successful business case; engage in intensive onboarding and capabilities training to drive not just account-opening, but account usage; and create scalable operational models to sustainably serve rural areas. This panel will examine different models of digital solutions to understand what has worked and what has not, and extrapolate lessons for Colombia.
Round #1 - 11:30-11:45 a.m.
Round #2 - 2:00-2:15 p.m.
Lightning rounds offer more intimate opportunities to spur participant engagement and share experiences in digital payments. Four representatives will present to small groups concurrently; participants will choose one lightning round to visit. The lightning round leader will present for five minutes and then lead discussion for ten minutes. This approach will be repeated twice, enabling participants to view two of the four sessions throughout the course of the day.
Steve Hollingworth, President and CEO, Grameen Foundation