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"“We’ve all heard the adage ‘cash is king,’ but for too many women and men in the world, living in a cash-reliant world is a tremendous burden,” said David Porteous, the lead researcher behind the BFA study. “Cash-only economies often make it too difficult to find a path out of poverty – it means it is hard to build up savings, cash offers too many opportunities for corruption, and women are often at risk when they have to carry their life savings in cash or gold rather than in an electronic account. For these many varied reasons, it is so important to begin the journey to electronic payments.”

Across the globe, governments, the private sector and the development community make billions of cash payments to people living in poverty, including disbursements of salaries, payments to vendors, pensions, social welfare stipends, cash-for-work programs, and emergency relief payments. According to the new research, which was commissioned by the Better Than Cash Alliance, these programs can play a pivotal role in driving a strategic shift to electronic payments. To access the report, visit betterthancash.org/resources.

For governments, development community organizations and companies, the shift from cash to electronic payments can result in significant cost savings and dramatic increases in transparency, security and economic growth. A recent report by the World Bank found that governments can cut up to 75 percent of costs through electronic payment programs "

https://www.gatesfoundation.org/ideas/media-center/press-releases/2012/09/better-than-cash-alliance#:~:text=announced%20today%20the%20launch%20of,commit%20to%20make%20the%20transition.