Digital payments are increasingly becoming a foundational tech platform for innovative health financing models. The use of digital or cashless payments have seen a sharp rise under COVID- 19. Mobile money has become a way to not just pay for products but also a way to avoid the transmission of the SARS-CoV2 virus. Increasingly, digital technologies are being used to abide by social distancing policies and prevent further spread of the virus. In a significant step forward for financial inclusion, wage digitization has been mandated for workers from Bangladesh to Singapore, in order to avoid the time, travel and queues required for cash-based wages. Together, these steps will lead to an increase in the public’s comfort and familiarity with payments app and will raise demand for the use of these portals in healthcare systems, from digitally delivered healthcare to traditional clinical care.
The first in a series of Fintech for Health webinars, the purpose of this webinar is to share how the digital payments industry – from distribution models to payments and regulations — has changed rapidly in response to the pandemic, and why it makes more sense than ever to integrate digital payments platforms with healthcare financing and delivery platforms.
With states and countries at various stages of COVID-19 disease progression and restrictive safety measures being eased at varying rates, what does this mean for the global economy and what shifts can we expect in public health policy?