The use of digital payments surged during the pandemic, forcing many MSMEs to turn to a range of digital tools for their businesses, including payments via mobile money, marketing products on social media, and selling on e-commerce platforms. Digital tools helped many MSMEs address challenges in the wake of the pandemic and ongoing economic conditions, but digital adoption among MSMEs has been slow and uneven.

In this report, CFI explores how MSMEs used digital products during the pandemic, what barriers they faced with digital adoption, and what can be done to support the growth of MSMEs in the digital economy.


Shradha Modi

Former Research Director

Shradha worked with CFI from 2020 to 2022 leading research and insights on projects across CFI’s portfolio. In 2022, Shradha transitioned to a role in Accion’s finance department. Previously, Shradha was a budget and strategic planning manager with Accion, where she worked closely with senior management in stewarding Accion’s resources. Before Accion, she worked with a clean energy investor supporting their investment and portfolio management activities. Shradha holds an MBA in finance from Bentley University.

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Explore CFI’s research on MSEs in the digital economy

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