Beyond the Buzz: The Allure and Challenge of Using Mobile Phones to Increase Youth Financial Inclusion

The recent application of mobile phones for financial inclusion among adults and the rising use of mobile phones among youth suggest that mobiles can catalyze financial inclusion for youth in developing countries. However, financial inclusion advocates must overcome many barriers because they can realize the full potential of mobiles in the field. This brief outlines these barriers and highlights the policy levers that could be tapped—enabling regulatory environments, incentives to innovate, strategic alliances, advanced data collection, and experimentation with “nudges”—that might allow proponents of youth financial access to circumvent these barriers to youth-centered mobile financial solutions and therefore speed up the pace of exploration and innovation.