Fintech For The Poor: Do Technological Failures Deter Financial Inclusion?

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Fintech For The Poor: Do Technological Failures Deter Financial Inclusion?

By Padmanabhan Balasubramanian, S V Ravi Chandra, Aditya Murlidharan, Prasanna Tantri |Apr 01, 2019

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Abstract

We examine the impact of transaction failures on the working of a biometric enabledpayment system introduced in India to facilitate banking by the poor. On an average,nearly one third of transactions fail. However, the proportion of failures decline steeplywith user experience. The usage of the system, especially on the intensive marginfront, increases significantly with experience. Finally, using the revealed preferenceframework, we find that transaction failures do not deter the users from using thebiometric platform. Further tests reveal that convenience offered by technology seemsto score over other conventional banking channels, despite high failure rate

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Fintech For The Poor: Do Technological Failures Deter Financial Inclusion?

Abstract