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Title:Lessons from remarkable fintech companies for the financial inclusion in Peru
Authors:ID Vilcanqui Velásquez, Patricia (Author)
ID Bobek, Vito (Author)
ID Korez-Vide, Romana (Author)
ID Horvat, Tatjana (Author)
Files:.pdf RAZ_Vilcanqui_Velasquez_Patricia_2022.pdf (713,10 KB)
MD5: 58478043C8656F824C3D5B7BB707F4C8
 
URL https://www.mdpi.com/1911-8074/15/2/62
 
Language:English
Work type:Scientific work
Typology:1.01 - Original Scientific Article
Organization:EPF - Faculty of Business and Economics
Abstract:Financial inclusion, defined as the adequate access and usage of formal financial services to improve people’s lives, is a crucial area for the economic development of a country through its various angles. This paper analyzes the impact of selected FinTech companies on financial inclusion in their respective countries to obtain lessons of their business models and country environments that can help Peruvian financial inclusion. The selected FinTechs are M-PESA in Kenya, Nubank in Brazil, GCASH in the Philippines, and Easypaisa in Pakistan, which revolutionized the financial sector in their respective countries. However, a comparative study of their impact on financial inclusion in their respective country has not been conducted yet; therefore, the lessons obtained are helpful for the Peruvian situation due to their practical implications and because they raise possible areas for further and deeper research. The approach of this study considered a qualitative and quantitative method (to find a Pearson correlation between the percentage of the population of Country (A) that are users of FinTech (a) and the six selected demand-side indicators per country retrieved from the Global Findex Database) analysis to understand the results obtained. The results obtained indicate that M-PESA and GCASH, companies specialized in providing basic mobile money transactions such as remittances and withdrawals, did not impact the provision of other financial services such as savings or credit cards. In Easypaisa’s case, this company positively impacts the studied indicators, probably due to its original partnership with a microfinance institution. Regarding Nubank, despite its remarkable growth in the last years, the company does not affect financial inclusion in Brazil yet. Nonetheless, after its recent expansion to provide more financial services, future research could assess the impact of this company on Brazilian financial inclusion.
Keywords:FinTech’s, Nubank, M-PESA, GCASH, Easypaisa, financial inclusion, mobile money, remittances emerging markets, international business, business economics
Publication status:Published
Publication version:Version of Record
Publication date:01.02.2022
Year of publishing:2022
Number of pages:str. 1-49
Numbering:Vol. 15, issue 2
PID:20.500.12556/DKUM-84798 New window
UDC:336.74
ISSN on article:1911-8074
COBISS.SI-ID:97816579 New window
DOI:10.3390/jrfm15020062 New window
Publication date in DKUM:25.07.2023
Views:496
Downloads:79
Metadata:XML DC-XML DC-RDF
Categories:Misc.
:
VILCANQUI VELÁSQUEZ, Patricia, BOBEK, Vito, KOREZ-VIDE, Romana and HORVAT, Tatjana, 2022, Lessons from remarkable fintech companies for the financial inclusion in Peru. Journal of risk and financial management [online]. 2022. Vol. 15, no. 2, p. 1–49. [Accessed 12 April 2025]. DOI 10.3390/jrfm15020062. Retrieved from: https://dk.um.si/IzpisGradiva.php?lang=eng&id=84798
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Record is a part of a journal

Title:Journal of risk and financial management
Shortened title:J. risk financ. manag.
Publisher:MDPI AG
ISSN:1911-8074
COBISS.SI-ID:522406169 New window

Licences

License:CC BY 4.0, Creative Commons Attribution 4.0 International
Link:http://creativecommons.org/licenses/by/4.0/
Description:This is the standard Creative Commons license that gives others maximum freedom to do what they want with the work as long as they credit the author.

Secondary language

Language:Slovenian
Keywords:FinTech, Nubank, M-PESA, GCASH, Easypaisa, finančna vključenost, mednarodno poslovanje, poslovna ekonomija


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