This paper examines the factors that make cash ‘sticky’ in the increasingly digitised Kenyan financial landscapes. On the one hand, it discusses the mismatch between assumptions implicit in the financial inclusion discourse and ideas of saving, accumulation and money enshrined in local financial practices, and provides an overview of the current digital payment situation in Kenya, in terms
of strategies and data. On the other hand, it draws insights from industry efforts in which industry expectations are tested against a background shaped by the dominance o f cash and traditional financial institutions. The overall goal is to further the understanding of potential drivers and challenges o f ‘cash-lite’ approaches to financial inclusion, as well as the convergence and divergence of theory and evidence.
Follow this link to read the article: The unbearable lightness of digital money
The article was originally published by Henry Stewart Publications in the Journal of Payments Strategy & Systems.