💵Payments
Introduction
Digitalization of payments in social benefits delivery programs can make the benefit disbursement swift, efficient, safe, and secure. Digitalization of payment processes end-to-end can be achieved by providing these two key functions:
Automation of backend administration for payments: to save costs for governments by reducing leakages, improving transparency, and preventing errors, fraud, and corruption
Disbursement of benefits using digital payments: to provide convenience, ease of access, safety, and choice of encashment to the beneficiaries
Expansion of social protection programs from 2020 onwards
Digital payments are the most preferred method of delivering cash transfers
Wide variation across country expenditure on social protection
1.1% of GDP in low-income countries vs. 16.4% in high-income countries
OpenG2P platform implements both these functions to provide ease of payment administration and a human-centric approach to benefit disbursements. The platform's Payments module consists of several functions to efficiently execute digital and mobile payments to the beneficiaries and report the status. Payments are generally executed in cycles and batches.
OpenG2P platform can be used to disburse payments for various use cases:
Social protection
Universal basic income
Cash incentives
Child allowances
School financing
As technology demonstrations, OpenG2P offers payment connectors for Mojaloop and Mifos Payment Hub with the flexibility to create custom connectors specific to the payment rails of a country.
Payments demo
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