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development, from design to delivery, while supporting FPC researchers further noted that improving access to
an inclusive financial system. These next-gen offerings financial services is a societal issue that exceeds the faster
benefit the digital commerce ecosystem, they added, by payments sector's scope or responsibilities. Individuals
expanding access to high-quality, responsible, secure, and without access to bank or credit union accounts pay
affordable financial services. heavily to move funds, and many pay exorbitant fees to
cash checks and reload prepaid accounts, they stated,
The ETA white paper is available for download at www. adding that closing service gaps will require a concerted
electran.org/wp-content/uploads/ETA-Creating-a-More- effort from all financial services stakeholders in what
Inclusive-Economy-2022.pdf. they termed a "long-term, resource intensive, community-
based effort."
Create parity
FPC researchers emphasized underserved citizens, A copy of the FPC white paper is available at http://
whether unbanked, living paycheck to paycheck fasterpaymentscouncil.org/userfiles/2080/files/Financial%20
or running small businesses, deserve the same Inclusion%20White%20Paper_7-29-2022_Final.pdf.
individualized attention as well-to-do consumers. Global
adoption has increased access to secure, agile, intelligent As ETA and FPC researchers noted, everyone participates
digital commerce, they stated, but not for everyone. "Lack in financial inclusion. Whether you run a small business
of access to resources, services, or devices deemed to be or global enterprise, your products and services can make
'common' among consumers by financial institutions and a difference. Whether those needing improved services
other financial ecosystem players also increases barriers to are single parents working multiple jobs, teachers living
participation while simultaneously lessening individual paycheck to paycheck, or otherwise underfinanced
security by and for the underserved," FPC researchers individuals, fintechs and banks want to help. If their brand
wrote. "For example, financial offerings may depend messaging is not on point, let's help them get it right.
upon personally owned smart phones with up-to-date
encryption or require a small business to purchase and Dale S. Laszig, senior staff writer at The Green Sheet and managing
maintain a particular vendor's point-of-sale technology, director at DSL Direct LLC, is a payments industry journalist and content
and overwhelmingly there is an assumption of reliable, strategist. Connect via email dale@dsldirectllc.com, LinkedIn www.
fast, and 'always on' Internet access." linkedin.com/in/dalelaszig/ and Twitter @DSLdirect.