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⍰ ASK Can electronic money institutions in China play a role in supporting microfinance initiatives and small-scale entrepreneurs?

Digital banks in China can really help small businesses and people who don't use regular banks much. These banks use tech to give financial services to more people.

They offer digital wallets and ways to pay with your phone. This helps small businesses and entrepreneurs get and manage money safely, do transactions easily, and use financial services without needing a regular bank account.

This banks use data and smart device to check if someone can be trusted to pay back a loan. They look at what someone does with money and other info to quickly and accurately decide if they can get a loan.
 

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