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The Postal Service would benefit from a new source of revenue at a time when they are looking for alternatives. In addition, billers would get a new, huge alternate bill acceptance network. And, as in India, use of the prepaid card versus cash would simplify the flow of money through the value chain, making the recharge api provider economics even more attractive. These three examples show that bill payment could accelerate financial inclusion not only in developing markets like India and Mexico, but also in developed markets like the U.S.

The key would be to take a holistic look at the ecosystem in the three countries and develop solutions that create value for all stakeholders, something that clearly seems possible. The three examples recharge types also emphasize the point made earlier, which is that the right approach to accelerating financial inclusion is to marry the supply-side/product view (e.g., mobile, prepaid) with the demand side view of bill payments. In all cases, payment recharge api provider efficiency is essential to bill payment for all stakeholders, and is something that is applicable in any market. As mentioned earlier, bill payment is not a one-and-done phenomenon; rather, people have to regularly recharge types pay their bills.

Therefore, it is logical that using an electronic payment method like a prepaid card for paying bills would be so habit forming that people would start using it for other types of payments recharge api provider like retail purchases. For example, in Mexico and India it is probable that consumers will start using their salary or bill payment cards for other types of retail purchases. This phenomenon of creating stickiness to the payment method by its regular use is also supported by research. Based on a study done by MasterCard, consumers in the U.S.

who make recurring payments on their credit cards tend to use their cards more for other spend versus consumers who do not make recurring payments (see Figure 5). The potential for bill payment to drive financial inclusion is not limited recharge api provider to providing alternatives to cash for payments. Bill payment could lead to greater financial inclusion beyond payments by driving other financial activity, such as lending. This is because when consumers have access to electronic payment methods to pay their bills, their payments can be tracked by companies.

Companies could then analyze these payments to get useful insights into the creditworthiness of consumers and assess their risk for loans. This is true recharge api provider not only in emerging/developing countries, but also in developed countries. For example, a growing trend over the last several years in India has been micro finance loans, small loans typically made to the lower-income segment of society.
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