United Nations Economic and Social Commission for Asia and the Pacific MSME Financing Series No. 7 - MSME Access to Finance: The Role of

Yet, policymakers and regulators at the national, regional, and international levels are increasingly concerned about the impacts of financial innovations and the activities of new entrants outside of regulatory perimeters on the intermediation of financial systems and the attendant risks to regulatory architecture and the SDGs (World Bank and CMPI, 2020a). [...] For instance, the report of the Taskforce on Digital Financing of the SDGs highlights how digital payment solutions can drive both the development of the global digital economy and the pursuit of major SDGs such as gender equality, climate action, and poverty eradication. [...] MSME ACCESS TO FINANCE: THE ROLE OF DIGITAL PAYMENTS Digital Identity --- SDG10: Reduced Inequalities, SDG16.9: Legal Identity Digital identity broadly refers to the determination of the identity of payment initiators and recipients to promote the transparency of transactions and the prevention of financial crimes. [...] The impact of such government initiatives is invaluable to the promotion of financial inclusion and the actualisation of global SDGs because the scope of application and adoptability is unified. [...] 7 competitiveness and the goodwill of financial institutions, it is useful to concisely examine the period of free banking globally during the 18th and 19th centuries before the popularity of central banking and their roles in payment system stability and consumer protection which started in the 20th century (Bodenhorn, 2002).