According to the World Bank, 230 million financially excluded people still receive their wages in cash, and 235 million unbanked adults in developing countries receive cash for their agricultural products. In total, 6.3 trillion dollars of global supply chain payments are still made in cash.
For as long as a business purchases goods from unbanked suppliers or it needs to pay wages to unbanked employees, digitizing the business is not feasible. Consequently, only 10 percent of micro and small businesses in developing countries are digitized. Experience from companies who have digitized their payments emphasizes the need for a collaborative effort involving stakeholders in government, banking and the supply chain to eliminate the gaps in the supply chain that are currently filled by cash.