Banks and Payment Firms Urged to Make Innovation More Inclusive

Banks and payment service providers are racing to make transactions faster and more digital, but vulnerable adults can face barriers when using mainstream accounts and payment tools. Money Carer argues that progress should not be measured by speed alone. Financial institutions need to offer a broader range of accessible options so that customers who require support are not excluded as cash use declines and services increasingly move online.

Money Carer’s chief executive has urged banks and PSPs to embed inclusion in product design, citing biometric payment cards and wearable devices as tools that could help vulnerable adults transact more safely and independently. The report did not disclose an implementation date, investment amount or expected user numbers. Its central message is that innovation and financial inclusion can advance together if providers treat accessibility, security and customer choice as core product requirements.