“One of the challenges we are seeing is a lot of smaller and medium-sized businesses that have suddenly digitized and suddenly are part of the digital economy don’t have long enough, well-documented credit history in many of these countries simply because the credit scoring and the risk infrastructure has not existed for long enough,” Bose said. “A lot of these transactions, especially in countries like Indonesia, have historically not been factored in towards creating something in the form of a credit score, which would ease the access to capital for small merchants.”