The importance of financial inclusion is reflected in recent data from theFederal Reserve, which show that 22% of U.S. adults are either underbanked or unbanked. Further emphasizing the payments challenges faced by lower income demographics, the report also revealed that 43% of Americans making less than $40,000 a year were denied credit requests in 2019.
With eCash, those with lower incomes and limited access to credit will benefit from greater payments flexibility.