Our website will undergo scheduled maintenance on March 6th, 2024. During this time, connection to our website and some of its features may be unavailable. Thank you for your patience, and we apologize for any inconvenience.

Journal Article

Digital Currency, Digital Payments, and the 'Last Mile' to the Unbanked

Abstract: Digital forms of payment are either not accessible or highly costly for unbanked consumers. This is because these forms of payment must be "funded" by some source of money, such as cash or a bank account. That creates the "last-mile" problem for the unbanked. This article examines various solutions for the funding problem that have been proposed in the literature, by regulators, and in bills submitted to Congress.

Keywords: payments inclusion; financial inclusion; unbanked; digital currency; digital payments; central bank digital currency;

JEL Classification: G28; G59; O33; O35; O38;


Access Documents


Bibliographic Information

Provider: Federal Reserve Bank of Atlanta

Part of Series: Policy Hub

Publication Date: 2021-08-02

Volume: 2021

Issue: 9

Pages: 9