Over centuries, our perception of money and value has seen many transformations, influenced by technological advancements and societal changes. For example, the internet and digital technology have made financial transactions more accessible, increasing the volume and ease of paying and receiving funds. As a result, new payment ecosystems are emerging globally, aiming to address the needs of the underbanked and transition economies from cash to digital payments.
Financial inclusion remains a crucial goal in this milieu, particularly in Africa, where many individuals are underbanked. This means they may have bank accounts but aren’t fully utilising the financial services available to them. To improve access, scaling digital financial services is critical to enabling and achieving economic and social development.
With the help of these technological advancements, payment service providers can expand and improve their services while reducing costs. One notable transformation is the evolution of lay-by. LayUp Technologies is breathing new life into this age-old practice with its innovative cloud-based platform, automating the entire lay-by process from initial setup to reconciliation and collection.
In this article, we’ll explore LayUp’s role in driving financial inclusion, allowing businesses to focus on what truly matters: growth and customer satisfaction. Rise of digital payments In today’s fast-paced and technology-driven world, the landscape of shopping and payment m.