Mobile money as a catalyst for digital financial inclusion

Abstract

This research explored how mobile money services can stimulate digital financial inclusion in developing and emerging economies. India's financial landscape has completely changed as a result of mobile money, greatly increasing financial inclusion, particularly in underserved and rural areas. Thanks to the India Stack and other digital infrastructure, millions of people can now access financial services with previously unheard-of ease. Mobile money became essential as a result of the COVID-19 pandemic, which also accelerated the adoption of contactless digital payments. Even with these advancements, problems like institutional weaknesses and low awareness continue. This research delves into the advancements, obstacles, and tactical measures required to utilize mobile money as a driving force behind digital financial inclusion in India.