Payments and Policy

Monday January 25, 2021
12:30 PM UTC

Session Leads: Steve Haley (@stevenhaley1), Ahmed Dermish

Session Description: A conversation wtih Ahmed Dermish (UNCDF) on policy, regulation, and how that might work in Myanmar

Session Recording

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There are three equally important facets: The system should be…

  1. Desirable (governments, payment providers, and customers; ML must improve their experience of payments).
  2. Feasible (the system must be technically capable of providing the desirable solution).
  3. Viable (the system must be economical and conform to regulations).

When all three of these overlap, the system is a great fit. If one of these facets are missing, the system may not make sense.

Great session! Walking the line with regulators and commercially interested parties is critical to get traction


Thank you Ahmed, really good advice/reminder to think of the regulator as a multi-chamber organization that has multiple stakeholders to buy-in!

this is a great list Miller. This is likely a big ask on day one though - how do we enable the iterative learning process for all of these diverse stakeholders? i.e. if it is a venn diagram - can we set the target at the overlap, but be okay getting started from outside the overlap?

Yes, target the 3-way overlap, but start with 2-way overlaps between participants, scheme owner, scheme operator, … and then work to drive towards the center.

An example of this is to ensure ATM networks are included for cash out use case. It starts as a benefit to banks (network fees) and end-users (automated access to cash), but is a cost to non-bank FIs (must implement the one-time password use case in their apps, and it drives people away from their very lucrative agency cash-out model).

Can the regulator and the scheme incentivize the move to the center by working with the stakeholders?
How else might we incentivize these kinds of use cases with unbalanced benefits?