Proven Impact. Shaping What’s Next for Fair Digital Finance
Digital finance is transforming how we save, spend and manage money. Instant payment systems are making transactions faster, cheaper and more accessible, particularly in low- and middle-income countries. But as these systems become increasingly interconnected and embedded in our daily lives, consumers are also facing new and evolving challenges — scams and fraud are becoming more sophisticated, hidden fees remain difficult to navigate, redress is often inadequate and questions around the use of consumer data continue to grow.
Consumer organisations are often the first to see these challenges emerge. Drawing on the lived experiences of the consumers they represent, they identify where systems are falling short and help translate those experiences into practical solutions.
At Consumers International, we know that the future of digital finance will be stronger when consumer organisations — and the consumers they represent — play a greater role in shaping it.
To help meet this challenge, Consumers International is entering the next chapter of its Fair Digital Finance Programme: strengthening the Fair Digital Finance Accelerator and launching the Fair Instant Payments Initiative, with support from the Gates Foundation.
A proven model ready to scale
Over the past four years, the Fair Digital Finance Accelerator has demonstrated that when consumer organisations are connected, supported, and able to learn from one another, the experiences of the consumers they represent can shape how digital finance develops. Since then, the Accelerator has grown into a global network of 70 consumer organisations across 53 countries. Together, Members have contributed to at least 10 policy and industry improvements across six countries, while more than 70% report greater confidence engaging regulators and 80% report increased knowledge of digital finance.
Our next phase builds on that foundation.
The next phase focuses on turning consumer experience into stronger evidence, stronger collaboration and stronger impact, helping shape national policy while contributing to international thinking on the future of digital finance.
Why instant payments?
Instant payment systems are rapidly becoming essential national infrastructure.
Across Africa alone, 36 instant payment systems processed over 64 billion transactions in 2024, while global real-time payment transactions are projected to reach 575.1 billion annually by 2028.
The speed of this transformation creates an opportunity. Countries developing or expanding instant payment systems today can embed consumer protection from the outset.
Consumer organisations have an important role to play by identifying emerging risks early, bringing evidence from consumers into policy discussions and helping ensure new systems are trusted, inclusive and work well for everyone.
Launching the Fair Instant Payments Initiative
With support from the Gates Foundation, the Fair Instant Payments Initiative brings together consumer organisations, regulators and partners to ensure consumer perspectives shape the next generation of instant payment systems through consumer-led evidence and practical policy engagement.
The Initiative empowers consumer advocates to strengthen instant payment systems and digital financial services by designing and advocating for regulatory approaches that address four issues consistently identified by Members as priorities: inadequate redress, scams and fraud, data misuse, and transaction-level issues such as hidden fees (price transparency) or delayed payments.
The momentum of instant payments systems is clear — and so is the need to bring consumer insights, evidence, and innovation to this space to improve outcomes for consumers.
Deepening impact in eight countries
The Fair Instant Payments Initiative begins with deep engagement in Bangladesh, India, Indonesia, Kenya, Nigeria, Pakistan, Tanzania and Uganda.
These countries represent some of the world's most dynamic digital finance markets. Some already operate globally recognised instant payment systems, while others are building out their national infrastructure.
At the heart of the Initiative is the Catalyst Cohort: a group of consumer organisations from these eight countries that will pioneer new approaches to consumer protection in instant payment systems. Together, they will generate evidence, engage decision-makers and demonstrate how consumer organisations can shape better digital finance outcomes.
The learnings from this work will strengthen the wider Fair Digital Finance Accelerator, providing tools, insights and approaches that Members across the global network can adapt in their own markets.
What next?
The next phase of the Fair Digital Finance Programme will produce practical resources that help consumer organisations, policymakers and partners navigate rapidly changing digital finance systems.
Over the coming months, expect new consumer research and insights, practical tools to strengthen consumer protection, international Policy Impact Forums bringing together consumer advocates, regulators and industry, opportunities for Members to collaborate, share evidence and shape global thinking, and campaigns highlighting consumer priorities in digital finance.
Building Fair Digital Finance Together
Digital finance will continue to evolve. Consumer experience must evolve with it.
Consumers International will ensure that consumer organisations can do more than respond to change. Together with our Members and partners, we are building a stronger evidence base, connecting learning across countries and creating practical pathways for consumer perspectives to shape policy, products and markets in a way that benefits the whole digital finance ecosystem.
If you share our ambition to build financial systems that are fair, trusted and centred on consumer needs, we would love to hear from you.
Get Involved
Whether you are a consumer organisation, policymaker, business, researcher or funder, there are opportunities to contribute to this work. Contact FDFP@consint.org to learn more.
