Small Merchants, Big Opportunity: The Forgotten Path to Financial Inclusion – a report commissioned by Visa and authored by Dalberg and the Global Development Incubator – explores how financial service providers can engage micro and small merchants to unlock the social and economic potential of digital payments.

Drawing on conversations with more than 300 merchants and 75 key financial sector stakeholders, the report concludes that digital payment systems must be improved to meet the specific needs of small merchants. These improvements include simpler and less expensive card terminals, effective support and customer services, increased merchant protections around chargebacks, faster processing times and reduced costs. Creating cashless systems that suit small merchants is crucial for both the merchants and financial service providers, as cashless systems are often the first step toward increased uptake of more sophisticated financial products such as loans and insurance.