Leora Klapper is a Lead Economist at The World Bank. She wrote about how digital payments can increase a firms’ profits by allowing more efficient and cost-effective financial transactions in the IZA World of Labor. Klapper’s research interest include consumer and household finance, behavioral economics, entrepreneurship, supply chain finance, financial institutions.

Digital payments improve the speed and reduce the cost of payments between entrepreneurs and suppliers, employees, customers, and governments. Digital financial systems make it easier for entrepreneurs to access credit products to start and expand their businesses, and encourage formal entrepreneurship by facilitating compliance with regulatory and tax obligations. Governments in developing countries can promote digital financial services by investing in the necessary infrastructure, collaborating with private entities to offer training for potential users, and ensuring that effective security and regulatory measures exist.