Deposit Insurance Treatment Of E-Money : An Analysis of Policy Choices

Emerging markets and developing economies (EMDEs) are experiencing rapid financial-sector innovation marked by a growing number and variety of digital financial services, providers, and delivery channels. Transaction accounts (see definitions in Table 1) have been at the center of innovations, and an e-money account is often the first type of transaction account accessed by previously unserved and underserved consumers in EMDEs. In fact, e-money accounts are more prevalent than bank accounts in at least 10 countries in Sub-Saharan Africa, a region where 21 percent of adults have a mobile money account (e-money account operated via mobile phones) offered by nonbank e-money issuers (EMIs) (Demirgüç-Kunt et al. 2018).

Izaguirre, Juan Carlos, Denise Dias, and Mehmet Kerse. 2019. “Deposit Insurance Treatment of E-Money: An Analysis of Policy Choices.” Washington, D.C.: CGAP.