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Ms. Elena Loukoianova and Yongzheng Yang

economies initially drove the use of electronic payments, followed by Emerging Market and Developing countries, while most low-income and developing countries have just seen its beginning. Figure 19. Technology and Financial Inclusion Sources: Global Findex and International Telecommunication Union. Nevertheless, a number of Asia-Pacific EMDCs are at the forefront of some fintech use. For example, China is a global leader in mobile payments, accounting for more than half of total mobile payments in the region as of the end of 2015. 2 Mobile payments in China