P2G Payments: An Overlooked $8-Trillion-Dollar Opportunity for the Global Startup Ecosystem

While payments have been one of the hottest segments of FinTech for some time now, a particular type of a payment service has been widely overlooked as an opportunity for innovation – person-to-government (P2G). CGAP states that today, global P2G payment flows are estimated to be at $7.7 trillion and represent a significant feature of the global payments landscape. For the low- and lower-middle-income countries alone, the number hits $375 billion (~50% of annual government expenditure).

P2G payments include mandatory payments like taxes and fines, payments for government services like utility payments or passport fees, and copayments for social benefits such as insurance. While any other type of payments service will always have to fight for a market share, payments from citizens to the government are he ...

To continue reading, sign up for MEDICI Inner Circle and get free access for 7 days.
100,000+ FinTech professionals trust MEDICI Inner Circle to stay up to date on the latest in financial services.