TY - BOOK ID - 138723679 TI - Fintech Payments in Public Financial Management: Benefits and Risks AU - Uña, Gerardo. AU - Verma, Alok. AU - Bazarbash, Majid. AU - Griffin, Naomi. PY - 2023 SN - 9798400232411 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - India KW - Macroeconomics KW - Economics: General KW - Industries: Financial Services KW - Public Finance KW - Monetary Systems KW - Standards KW - Regimes KW - Government and the Monetary System KW - Payment Systems KW - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: Other KW - Pension Funds KW - Non-bank Financial Institutions KW - Financial Instruments KW - Institutional Investors KW - Innovation KW - Research and Development KW - Technological Change KW - Intellectual Property Rights: General KW - National Budget KW - Budget Systems KW - National Government Expenditures and Related Policies: General KW - Taxation, Subsidies, and Revenue: General KW - Economic & financial crises & disasters KW - Economics of specific sectors KW - Financial technology (fintech) KW - Public finance & taxation KW - Distributed ledgers KW - Fintech KW - Technology KW - Mobile banking KW - Public financial management (PFM) KW - Revenue administration KW - Digital currencies KW - Currency crises KW - Informal sector KW - Economics KW - Financial services industry KW - Technological innovations KW - Banks and banking, Mobile KW - Finance, Public KW - Revenue UR - https://www.unicat.be/uniCat?func=search&query=sysid:138723679 AB - Fintech payments leverage large digital platforms to fill gaps in the traditional payment system. They have made great strides in increasing access to payment services in several countries around the globe. At the same time, like any innovation, the new payment models are exposed to risks in their operating environment. We review the main fintech payment models (mobile money, internet-based fintech payment, and digital money) and discuss operational and financial risks as well as challenges they face. We then explore how public financial management (PFM), especially treasury payments and non-tax revenue collections, could benefit from fintech payments by providing examples of early fintech applications in different countries and discuss the challenges of integrating them into the public sector. The use of fintech in public finance could bring various benefits—including strengthening fiscal transparency, improving budget planning and execution, and upgrading cash management—if public sector institutional and technological capacities are strengthened and risks are adequately mitigated. ER -