This research focuses on the challenges and
opportunities associated with digital financial services
for low-income populations. The study reveals that low-
income individuals face several barriers to accessing and
utilizing digital financial services. These challenges
include limited awareness or knowledge about such
services, lack of trust, inadequate digital literacy and
skills, high costs, insufficient infrastructure, and poor
mobile network coverage. Addressing these challenges is
crucial to enable greater adoption and usage of digital
financial services among low-income populations. Digital
financial services offer opportunities for low-income
populations, such as increased access to financial
services, enhanced financial literacy and management,
reduced transaction costs, improved transparency in
financial transactions, and facilitation of e-commerce
activities. These opportunities have the potential to
empower low-income individuals, promote financial
inclusion, and improve their overall financial well-being.
Users of digital financial services highly value the
convenience, improved financial management, faster
transactions, lower fees, increased access to services,
savings and investment options, and enhanced financial
security provided by these services.
Keywords : Digital Financial Services, Opportunities, Challenges, Benefits, Risks.