IFC backs $700M digital payments expansion in emerging markets

The International Finance Corporation (IFC) of the World Bank Group unveiled a $700 million risk-sharing initiative to help banks and fintechs in emerging markets scale digital payments. The program is projected to generate $280 billion in new payment volume, issue 360 million cards and register 90 million users, including 39 million women.

• IFC will cover settlement risk so more institutions can join international payment networks
• Projected impact: $280B in new payment volume, 360M cards, 90M users
• ITU's DFS Security Lab helps regulators test mobile payments in 20+ countries
• Expansion raises identity fraud, SIM swap and account takeover risks