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1
Suri, Tavneet. "Mobile Money." Annual Review of Economics 9, no. 1 (August 2, 2017): 497–520. http://dx.doi.org/10.1146/annurev-economics-063016-103638.
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Centellegher, Simone, Giovanna Miritello, Daniel Villatoro, Devyani Parameshwar, Bruno Lepri, and Nuria Oliver. "Mobile Money." Proceedings of the ACM on Interactive, Mobile, Wearable and Ubiquitous Technologies 2, no. 4 (December 27, 2018): 1–18. http://dx.doi.org/10.1145/3287035.
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Chipchase, Jan, Panthea Lee, and Bill Maurer. "Mobile Money: Afghanistan." Innovations: Technology, Governance, Globalization 6, no. 2 (April 2011): 13–33. http://dx.doi.org/10.1162/inov_a_00067.
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Asongu, Simplice A., Peter Agyemang-Mintah, and Rexon T. Nting. "Law, mobile money drivers and mobile money innovations in developing countries." Technological Forecasting and Social Change 168 (July 2021): 120776. http://dx.doi.org/10.1016/j.techfore.2021.120776.
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Johnen, Constantin, Martin Parlasca, and Oliver Mußhoff. "Mobile money adoption in Kenya: The role of mobile money agents." Technological Forecasting and Social Change 191 (June 2023): 122503. http://dx.doi.org/10.1016/j.techfore.2023.122503.
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Al Sousi, Amjad. "MOBILE MONEY: CONCEPT AND BENEFITS AND CHALLENGES ASSOCIATED WITH MOBILE MONEY." Journal of Information Systems and Digital Technologies 3, no. 2 (September 30, 2021): 68–75. http://dx.doi.org/10.31436/jisdt.v3i2.186.
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Mobile money could be a recent innovation that gives money dealings services via transportable, as well as to the unbanked international poor. The technology has unfolded speedily within the developing world, “leapfrogging” the availability of formal banking services by finding the issues of weak institutional infrastructure and also the value structure of typical banking. Mobile money may be a technology for grouping, saving, and pocket money on a mobile phone. Mobile cash may be a common various to cash and banks as a result of a transportable signal is simple to use, safe, and use anyplace. These users can win monetary lives, magnified monetary inclusion, economic direction, and economic process. This review provides a summary of the processes and impacts of mobile cash transfers in the developing world as well as the advantages and challenges facing this new technology. Over the past decade, mobile cash services have become a current tool in some developing economies, allowing people to interact with cash digitally while they do not have formal bank accounts.
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Katusiime, Lorna. "Mobile Money Use: The Impact of Macroeconomic Policy and Regulation." Economies 9, no. 2 (April 7, 2021): 51. http://dx.doi.org/10.3390/economies9020051.
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This paper examines the effects of macroeconomic policy and regulatory environment on mobile money usage. Specifically, we develop an autoregressive distributed lag model to investigate the effect of key macroeconomic variables and mobile money tax on mobile money usage in Uganda. Using monthly data spanning the period March 2009 to September 2020, we find that in the short run, mobile money usage is positively affected by inflation while financial innovation, exchange rate, interest rates and mobile money tax negatively affect mobile money usage in Uganda. In the long run, mobile money usage is positively affected by economic activity, inflation and the COVID-19 pandemic crisis while mobile money customer balances, interest rate, exchange rate, financial innovation and mobile money tax negatively affect mobile money usage.
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Martin, Aaron. "Mobile Money Platform Surveillance." Surveillance & Society 17, no. 1/2 (March 31, 2019): 213–22. http://dx.doi.org/10.24908/ss.v17i1/2.12924.
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Drawing on evidence from Sub-Saharan Africa, this paper explores the various forms of surveillance present on mobile money platforms. At the most basic level, mobile money is the provision of financial services through a mobile device. Over the past decade, these platforms have witnessed astonishing rates of adoption in Kenya, Tanzania, Uganda, Ghana, and elsewhere. While some authors have praised the transformative potential of mobile money, particularly in parts of the world in which large numbers of people remain “unbanked,” more critical voices have expressed concerns about the economic risks and regulatory challenges associated with mobile money. This article focuses on an underexplored but nevertheless significant feature of mobile money platforms: the ways in which they facilitate surveillance by service providers and government authorities. Relatively established forms of surveillance include mandates for identifying customers prior to service provision. I also discuss the monitoring of mobile money agents, who receive a commission for turning cash into electronic value (and vice versa). Well-established mobile money providers are said to operate in-house “bank-grade” monitoring systems to identify suspicious transactions and comply with anti-money laundering regulations. Government agencies are also implementing bespoke monitoring solutions in countries where authorities, distrustful of mobile money providers’ self-reported data, seek to more stringently enforce regulatory compliance while also maximizing tax revenues from mobile money transactions. An analysis of these different forms of surveillance reveals their multipurpose and multi-scalar nature. I argue that the impacts of mobile money platform surveillance need to be better understood, particularly from a financial inclusion perspective.
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Ahmed, Ismail. "Making money truly mobile." London Business School Review 30, no. 1 (January 2019): 26–27. http://dx.doi.org/10.1111/2057-1615.12278.
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Economides, Nicholas, and Przemyslaw Jeziorski. "Mobile Money in Tanzania." Marketing Science 36, no. 6 (November 2017): 815–37. http://dx.doi.org/10.1287/mksc.2017.1027.
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Mutsonziwa, Kingstone. "Mobile Money Landscape in the 12 SADC Countries using FinScope Survey Data." GIS Business 12, no. 3 (June 12, 2017): 25–32. http://dx.doi.org/10.26643/gis.v12i3.3356.
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There is no doubt that mobile money is bringing the under-served and the excluded population into the main stream financial services corridors. Based on the FinScope surveys, mobile money is becoming one of the enablers of financial inclusion. In an increasing number of developing countries, a number of poor people are using basic mobile phones to transfer money, paying for goods and accessing some basic financial services. According to the World Bank, mobile financial services are amongst the most promising mobile applications in the developing world. Although FinScope results show that mobile money usage is relatively low (23%) in the SADC region, the trend of usage is coming up fast. FinScope results show that close to 7 in 10 mobile money users are using it as a remittances/money transfer vehicle while 54% for buying airtime. It is encouraging that about 7 million adults (24% of mobile money) store value or save money in their mobile money accounts. Some barriers to mobile money relate to: affordability, perceived cost of mobile money, lack of understanding of mobile money/lack of awareness and no access to cell phones. Besides these barriers, mobile money is becoming a game changer for the landscape of financial inclusion in the SADC region.
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Mishchenko, Volodymyr, Svitlana Naumenkova, Andrii Grytsenko, and Svitlana Mishchenko. "Operational risk management of using electronic and mobile money." Banks and Bank Systems 17, no. 3 (September 19, 2022): 142–57. http://dx.doi.org/10.21511/bbs.17(3).2022.12.
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The extensive use of electronic and mobile money causes additional risks, which complicates the work of electronic money issuers (EMIs) and the functioning of payment systems. The paper aims to investigate operational risk management in the process of using electronic and mobile money. A classification of operational risk types was carried out and the forms of their manifestation in payment systems using electronic and mobile money were characterized. The list of key risk indicators has been compiled to assess the operational risk factors of payment systems using mobile and electronic money; a classification of costs (losses) as a result of the implementation of operational risk events is proposed, dividing them into direct and indirect. Based on the statistics of the International Monetary Fund and the National Bank of Ukraine, the use of electronic and mobile money in certain countries of the world is analyzed. The results on the intensity of electronic money use are presented, and the value of the electronic money multiplier in Ukraine is calculated. To improve operational sustainability of EMIs, a general scheme for organizing the operational risk management process in payment systems using electronic and mobile money is presented. Particular attention is paid to the regulatory and supervisory measures aimed at supporting the operational sustainability of EMIs and payment systems under their control. The issues discussed in this paper are relevant for the debate directed at the implementation of balanced approaches to operational risk management in the process of using electronic and mobile money in developing and emerging economies.
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Waema, Timothy Mwololo. "Money, Real Quick: Kenya's Disruptive Mobile-Money Innovation." African Journal of Science, Technology, Innovation and Development 5, no. 5 (August 2013): 439–40. http://dx.doi.org/10.1080/20421338.2013.829286.
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Acquah-Sam, Emmanuel, and Dorothy Bugre. "Effects of Mobile Money on Beige Bank, Ghana." European Scientific Journal, ESJ 14, no. 31 (November 30, 2018): 29. http://dx.doi.org/10.19044/esj.2018.v14n31p29.
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The motivation for this study was that, existing literature have reported on the growth of mobile money (MM) and its clientele base. However, studies on the effects of mobile money service on customers and performance of an individual bank; challenges, threats, and opportunities mobile money service presents to an individual bank are very rare to find so adding to the existing studies on the sector will help provide more insight into the operations of the sector and direct policy decisions of policy-makers, bank officials, and telecom operators. This study sought to find out how mobile money services have affected customers and performance of Beige Bank in Ghana. The research is a descriptive survey design that presents results in mean scores, frequency distribution tables, pie charts, bar graph, and Chi-square test of relationship. The study found that mobile money service had a positive effect on customers’ remittances. Also, mobile money positively influenced customers’ saving habits. Furthermore, majority of the respondents had bank accounts, mobile money accounts, and still engaged in MM transactions. Again, instead of being a threat, mobile money presents opportunities like, cross selling of products, increase in customer base through the registration of mobile money agents, and increased bank commissionIt is recommended that Beige Bank, Ghana and other banks in Ghana should focus on getting mobile agents to save and buy E-cash from them, and develop mobile phone apps which provide access to mobile money service where customers can easily transfer money between their bank accounts and their mobile money wallets.
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Aker, Jenny C., Silvia Prina, and C. Jamilah Welch. "Migration, Money Transfers, and Mobile Money: Evidence from Niger." AEA Papers and Proceedings 110 (May 1, 2020): 589–93. http://dx.doi.org/10.1257/pandp.20201085.
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Mobile money can reduce the cost of sending remittances as compared with traditional money transfer systems. Despite remittances being a crucial part of the West African economy, mobile money is failing to take off. We use supply and demand data for money transfer services to better understand low mobile money adoption in Niger. Using a modified Becker-DeGroot-Marschak mechanism to elicit willingness to pay, we find that households are willing to pay the cost of sending a transfer via mobile money, with substantial regional variation. This regional variation is correlated with agent density, which suggests that agent infrastructure might be a barrier.
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Kemgou Voptia, Etian Boress, and Yulia Stukalina. "Financial Inclusion in Sub-Saharan Africa: The Case of Mobile Money." Ekonomika 103, no. 4 (January 20, 2025): 81–96. https://doi.org/10.15388/ekon.2024.103.4.5.
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Financial inclusion is a mechanism that provide accessibility and application of formal financial system at an affordable cost. Mobile money as a financial service allows value to be exchanged and stored in mobile money accounts as this facilitates economic development, expand investment opportunities, increase consumer spending, encourage entrepreneurship, and boost economic growth. Mobile money appears to be a good solution for accelerating financial inclusion.Research objective: This research aims to assess how mobile money can improve financial inclusion in Sub-Saharan Africa.Design/Methodology/Approach: This study utilizes secondary data from international organizations, specifically the IMF Financial Access Survey (FAS) and World Development Indicators by the World Bank. The sample consists of 17 Sub-Saharan African countries from 2010 to 2021. Financial inclusion is measured using an index developed, with data sourced from the FAS (2019) database, while mobile money usage data is also derived from the same database. To evaluate the impact of mobile money on financial inclusion, a dynamic panel model is utilized, estimated using the systemic generalized method of moments (Sys-GMM), drawing on methodology’s framework for robust estimation.Results: The results confirm the central hypothesis, according to which the use of mobile money improves financial inclusion in Sub-Saharan Africa. It is therefore up to States and mobile network operators to intensify the use of mobile money. This intensification would be possible thanks to the development of mobile money, the regulation and security of mobile money services.Originality / Value / Practical implications: This research contributes novel insights into the role of mobile money as a transformative tool for financial inclusion in Sub-Saharan Africa. It distinguishes between registered and active mobile money accounts, assessing their effectiveness in facilitating access to traditional banking services such as loans, bill payments, savings, and overdrafts. By understanding user behaviors and engagement, this study provides a nuanced perspective on the impact of mobile money on the financial landscape of the regionImplication: The results enable the formulation of strategic recommendations for policy-makers aimed at advancing economic policies that foster the growth and utilization of mobile money services. These policies may include fostering partnerships between governments and mobile operators, enhancing digital literacy programs for users, and implementing regulatory frameworks that protect user interests while promoting innovation within the mobile money sector.
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Batista, Catia, and Pedro C. Vicente. "Adopting Mobile Money: Evidence from an Experiment in Rural Africa." AEA Papers and Proceedings 110 (May 1, 2020): 594–98. http://dx.doi.org/10.1257/pandp.20201086.
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Who uses mobile money, and what do people do with it? This paper describes mobile money adoption patterns following the experimental introduction of mobile money for the first time in rural areas of Southern Mozambique. We use administrative and household survey data to characterize adopters as well as their mobile money usage patterns over three years. Adopters of mobile money (and early adopters in particular) are more educated than nonadopters, and they are also more likely to already hold a bank account. Positive self-selection of adopters should be considered when introducing mobile money as a tool for rapid financial inclusion.
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Ogunjemilua, Ifeoluwa, Abiodun Oyebola, Felix Babatola, Pascal Dada, and Emmanuel Ogunjemilua. "Mobile Money Adoption and Performance of Informal Family Enterprises During COVID-19 Lockdown in Ekiti State, Nigeria." International Journal of Economic Behavior and Organization 12, no. 3 (August 6, 2024): 123–32. http://dx.doi.org/10.11648/j.ijebo.20241203.13.
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The study was carried out on family enterprises in Ekiti state during COVID-19 Lockdown: to identify socio-economic characteristics of the family enterprises; to determine the types of mobile money adopted; to determine the factors influencing the types of mobile money adopted; and to examine the effect of mobile money adopted on the performance of family enterprises during COVID-19 lockdown in Ekiti state. The study administered questionnaire on one hundred and fifty (150) respondents and retrieved one hundred (100) which was used for the analysis of this study using SPSS (Statistical Package for the Social Sciences). Findings from the study shows that majorities of the respondents had Diploma and Degree as their highest certificate. The nature of the family enterprises considered are publishing and printing, metal and aluminum fabrication, poultry and fishery farming and furniture, upholstery and carpentry, leather shoe making, graphic designer, automobiles mechanic and panel beaters, Gas seller, tailoring/fashion designer, and dry cleaners. Findings from the study further shows that the enterprises were self-started, owned through inheritance and while the remaining were acquired. The study findings show the factors that are influencing the adoption of mobile money by family enterprises in Ekiti State such as: perceived electronic fraud among the family enterprises discourages mobile money adoption; perceived ease of use of mobile money among the family enterprises encourages the adoption of mobile money; perceived low cost of service of use of mobile money among the family enterprises encourages the adoption of mobile money; perceived usefulness of mobile money among the family enterprises encourages the adoption of mobile money; low level of knowledge about mobile money (high level of illiteracy) among others. Findings further shows that mobile money adopted by the family enterprises are significantly influencing their performance in Ekiti State Nigeria. The study concluded that family enterprises considered are micro scales, and mostly adopted USSD (unstructured short messages) and mobile app including online banking as mobile money adopted by the selected family enterprises. The enterprises used the mobile money adopted for different transactions such as payment of salaries, products bought from suppliers, payment received on products/services sold/rendered to their customers. The study further concluded that the index factors considered in this study are cogent factors that are really influencing the adoption of mobile money. The study also concluded that mobile money adopted are significantly influencing the performance of the selected family enterprises during COVID-19 Lockdown in Ekiti State Nigeria.
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Akomea-Frimpong, Isaac, Charles Andoh, Agnes Akomea-Frimpong, and Yvonne Dwomoh-Okudzeto. "Control of fraud on mobile money services in Ghana: an exploratory study." Journal of Money Laundering Control 22, no. 2 (May 7, 2019): 300–317. http://dx.doi.org/10.1108/jmlc-03-2018-0023.
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Purpose Fraud is a global economic menace which threatens the survival of individuals, firms, industries and economies, and the mobile money service is no exception. This paper aims to explore the main causes of fraud in the mobile money services in Ghana and the measures to combat the menace by the key stakeholders connected to the mobile money services. The paper is motivated by recent reports of numerous fraudulent transactions on the mobile money platform, and the need to clamp down these nefarious transactions with effective and practical measures to sustain the service. Design/methodology/approach A thorough review of existing studies on fraud risk relating to mobile money services was done revealing a paucity of literature on the subject. Primary data were gathered using an interview guide to explore the magnitude of the problem based on the views of employees of mobile money operators, mobile money agents, banking supervisors from Bank of Ghana, employees of partnering banks, employees of National Communications Authority and mobile money subscribers. Findings The study revealed that fraud in mobile money services is caused by weak internal controls and systems, lack of sophisticated information technology tools to detect the menace, inadequate education and training and the poor remuneration of employees. These factors disrupt the growth, and the smooth-running of the services. To curb this menace, a detailed legal code and internal fraud policy should be developed and used by mobile money operators and partner banks. Adequate training for mobile money agents should be encouraged coupled with public awareness campaigns to educate stakeholders especially the mobile money subscribers on the tricks of the fraudsters. Research limitations/implications With the chosen research methodology and limited sample size, the findings may not reflect the views of all the stakeholders connected to the mobile money services. Therefore, future studies on this subject are entreated to use research methods which embrace larger samples to get more details about this menace. Practical implications The study will assist in tackling the mobile money fraud to sustain the service in the foreseeable future. Originality/value This paper contributes to scanty literature on fraud relating to the mobile money services by drawing lessons from a middle-income country.
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Ali, Guma, Mussa Ally Dida, and Anael Elikana Sam. "Two-Factor Authentication Scheme for Mobile Money: A Review of Threat Models and Countermeasures." Future Internet 12, no. 10 (September 24, 2020): 160. http://dx.doi.org/10.3390/fi12100160.
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The proliferation of digital financial innovations like mobile money has led to the rise in mobile subscriptions and transactions. It has also increased the security challenges associated with the current two-factor authentication (2FA) scheme for mobile money due to the high demand. This review paper aims to determine the threat models in the 2FA scheme for mobile money. It also intends to identify the countermeasures to overcome the threat models. A comprehensive literature search was conducted from the Google Scholar and other leading scientific databases such as IEEE Xplore, MDPI, Emerald Insight, Hindawi, ACM, Elsevier, Springer, and Specific and International Journals, where 97 papers were reviewed that focused on the topic. Descriptive research papers and studies related to the theme were selected. Three reviewers extracted information independently on authentication, mobile money system architecture, mobile money access, the authentication scheme for mobile money, various attacks on the mobile money system (MMS), threat models in the 2FA scheme for mobile money, and countermeasures. Through literature analysis, it was found that the threat models in the 2FA scheme for mobile money were categorised into five, namely, attacks against privacy, attacks against authentication, attacks against confidentiality, attacks against integrity, and attacks against availability. The countermeasures include use of cryptographic functions (e.g., asymmetric encryption function, symmetric encryption function, and hash function) and personal identification (e.g., number-based and biometric-based countermeasures). This review study reveals that the current 2FA scheme for mobile money has security gaps that need to be addressed since it only uses a personal identification number (PIN) and a subscriber identity module (SIM) to authenticate users, which are susceptible to attacks. This work, therefore, will help mobile money service providers (MMSPs), decision-makers, and governments that wish to improve their current 2FA scheme for mobile money.
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Li, Siqi. "Mobile Money and African Banking System." International Journal of Global Economics and Management 2, no. 3 (April 25, 2024): 11–23. http://dx.doi.org/10.62051/ijgem.v2n3.02.
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With the development of financial technology, there has been a new payment method, that is, without a bank card, only a SIM card can be used through mobile phones for bank transfers and remittances, which is called mobile money. The rise and popularity of mobile money in various African countries is worthy of our attention because Africa is the region with the highest rate of mobile money usage. So, what kind of impact will the rise of mobile money have on the development of local mobile banks? We need to find out. Whether mobile money has become a competitor of mobile banks, we need to analyze through empirical analysis.
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Soliman, Wessam. "Mobile Money Reinforcing Emerging Economies through Innovation Disruption." International Journal of Science and Research (IJSR) 11, no. 1 (January 5, 2022): 462–68. http://dx.doi.org/10.21275/sr22107173645.
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Mutsonziwa, Kingstone, and Obert K. Maposa. "Mobile Money - A Catalyst for Financial Inclusion in Developing Economies: A Case Study of Zimbabwe using Fin Scope Survey Data." GIS Business 11, no. 3 (May 28, 2016): 45–56. http://dx.doi.org/10.26643/gis.v11i3.3436.
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Mobile money in Zimbabwe has extensively extended the frontiers of financial inclusion to reach millions who were earlier excluded within a relatively short space of time. The growing use of mobile phones in transferring money and making payments has significantly altered the countrys financial inclusion landscape as millions who had been hitherto excluded can now perform financial transactions in a relatively cheap, reliable and secure way. The FinScope results found out that 45% of the adult population use mobile money services. Of those using mobile money, 65% mentioned that is convenient, while 36% mentioned that it is cheap. Mobile money is accessible. These drivers are in the backdrop of few or no bank branches in rural communities as well as time and cost of accessing the bank branches. In Zimbabwe, mobile money is mostly used as a vehicle for remittances. While some people are enjoying mobile money services, it is important to mention that there are still people who are excluded from the formal financial system. The reasons why people do not use mobile money are mainly related to poverty issues. Mobile money remains a viable option to push the landscape of financial inclusion in Zimbabwe and other emerging markets where the formal financial system might not be strong.
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Mutsonziwa, Kingstone, and Obert K. Maposa. "Mobile Money - A Catalyst for Financial Inclusion in Developing Economies: A Case Study of Zimbabwe using FinScope Survey Data." GIS Business 12, no. 1 (January 6, 2017): 45–56. http://dx.doi.org/10.26643/gis.v12i1.3378.
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Mobile money in Zimbabwe has extensively extended the frontiers of financial inclusion to reach millions who were earlier excluded within a relatively short space of time. The growing use of mobile phones in transferring money and making payments has significantly altered the countrys financial inclusion landscape as millions who had been hitherto excluded can now perform financial transactions in a relatively cheap, reliable and secure way. The FinScope results found out that 45% of the adult population use mobile money services. Of those using mobile money, 65% mentioned that is convenient, while 36% mentioned that it is cheap. Mobile money is accessible. These drivers are in the backdrop of few or no bank branches in rural communities as well as time and cost of accessing the bank branches. In Zimbabwe, mobile money is mostly used as a vehicle for remittances. While some people are enjoying mobile money services, it is important to mention that there are still people who are excluded from the formal financial system. The reasons why people do not use mobile money are mainly related to poverty issues. Mobile money remains a viable option to push the landscape of financial inclusion in Zimbabwe and other emerging markets where the formal financial system might not be strong.
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Mutsonziwa, Kingstone, and Obert K. Maposa. "Mobile Money - A Catalyst for Financial Inclusion in Developing Economies: A Case Study of Zimbabwe using FinScope Survey Data." GIS Business 12, no. 2 (April 26, 2017): 45–56. http://dx.doi.org/10.26643/gis.v12i2.3363.
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Mobile money in Zimbabwe has extensively extended the frontiers of financial inclusion to reach millions who were earlier excluded within a relatively short space of time. The growing use of mobile phones in transferring money and making payments has significantly altered the countrys financial inclusion landscape as millions who had been hitherto excluded can now perform financial transactions in a relatively cheap, reliable and secure way. The FinScope results found out that 45% of the adult population use mobile money services. Of those using mobile money, 65% mentioned that is convenient, while 36% mentioned that it is cheap. Mobile money is accessible. These drivers are in the backdrop of few or no bank branches in rural communities as well as time and cost of accessing the bank branches. In Zimbabwe, mobile money is mostly used as a vehicle for remittances. While some people are enjoying mobile money services, it is important to mention that there are still people who are excluded from the formal financial system. The reasons why people do not use mobile money are mainly related to poverty issues. Mobile money remains a viable option to push the landscape of financial inclusion in Zimbabwe and other emerging markets where the formal financial system might not be strong.
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Mutsonziwa, Kingstone, and Obert K. Maposa. "Mobile Money - A Catalyst for Financial Inclusion in Developing Economies: A Case Study of Zimbabwe using FinScope Survey Data." GIS Business 12, no. 4 (August 25, 2016): 45–56. http://dx.doi.org/10.26643/gis.v12i4.3431.
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Mobile money in Zimbabwe has extensively extended the frontiers of financial inclusion to reach millions who were earlier excluded within a relatively short space of time. The growing use of mobile phones in transferring money and making payments has significantly altered the countrys financial inclusion landscape as millions who had been hitherto excluded can now perform financial transactions in a relatively cheap, reliable and secure way. The FinScope results found out that 45% of the adult population use mobile money services. Of those using mobile money, 65% mentioned that is convenient, while 36% mentioned that it is cheap. Mobile money is accessible. These drivers are in the backdrop of few or no bank branches in rural communities as well as time and cost of accessing the bank branches. In Zimbabwe, mobile money is mostly used as a vehicle for remittances. While some people are enjoying mobile money services, it is important to mention that there are still people who are excluded from the formal financial system. The reasons why people do not use mobile money are mainly related to poverty issues. Mobile money remains a viable option to push the landscape of financial inclusion in Zimbabwe and other emerging markets where the formal financial system might not be strong.
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Mhella, Deogratius Joseph. "The Development of Mobile Money and the Politics of Financial Inclusion in Tanzania." International Social Sciences Review 1 (April 30, 2019): 25–42. http://dx.doi.org/10.37467/gka-socialrev.v1.2088.
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This paper analyses the development of mobile money in Tanzania and the politics of financial inclusion that enhanced it. Mobile money has played a significant part in reaching the financially unreached and excluded people overtaking banking and other financial services in Tanzania. There is no doubt that mobile money emerged at a time when financial exclusion was a major issue, and that the advent of mobile money was opposed by the banks who thought that it was entering the money business, and that the banks were in a better position to do money business better than any other institutions. For this reason, it is crucial to understand the development of mobile money and the politics of financial inclusion that allowed it to succeed. I have chosen the case study of Tanzania because not only that mobile money has thrived there, but also mobile money as we perceive it today was firstly invented by the e-Fulusi, a Tanzanian company, and failed before it was relaunched in Kenya by MPesa and succeeded. Moreover, the development of mobile money and the politics of financial inclusion have proven their importance in fighting financial exclusion and in increasing access to formal financial services for the poor, which is key to economic growth and poverty alleviation.
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Awuah, Emmanuel. "The Digital Wallet Revolution: Assessing Mobile Money’s Role in Transforming Emerging Economies: A Review." Asian Journal of Economics, Business and Accounting 25, no. 1 (January 3, 2025): 35–43. https://doi.org/10.9734/ajeba/2025/v25i11631.
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Mobile money services have become important worldwide, changing how financial technology works and helping more people use banking services. They give easy-to-use, safe, and cheap money services to people who don't have bank accounts or don't use them much in poorer countries. These mobile money systems let people put money in, take it out, send it to others, and pay bills using their phones. This means they don't need to rely on regular banks as much. This review article explores the evolution of mobile money services, focusing on their growing significance in emerging markets. Mobile money has transformed financial landscapes by providing accessible, affordable, and secure financial services to populations that were traditionally excluded from the formal banking system. The article will assess the key benefits of mobile money, such as financial inclusion, economic growth, poverty reduction, and enhanced remittance flows. It will also highlight the role of mobile money in empowering women and fostering small and medium-sized enterprises (SMEs). Additionally, the review addresses challenges faced by mobile money services, including regulatory hurdles, fraud, and technological infrastructure limitations. By analyzing the key benefits, the article will offer insights into the potential of mobile money services to drive sustainable development and economic inclusion in the future.
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Arinze, Echegu Darlington, Jude Uchechukwu Aleke, and Alum Benedict Nnachi. "Mobile Money Adoption in Uganda." IDOSR JOURNAL OF COMPUTER AND APPLIED SCIENCES 9, no. 2 (September 30, 2024): 10–16. http://dx.doi.org/10.59298/jcas/2024/92.1016.
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Mobile money has gained a lot of acceptance in the Ugandan financial sector since its inception a decade ago. This is due to high mobile phone usage, especially in rural areas where branch banking is rare. The financial sector’s adoption of mobile money has enhanced financial inclusion by providing banking services to individuals previously excluded from the financial sector. Mobile money services offer a variety of financial transactions, including payment, saving, credit, and insurance, without the need to visit a banking hall. These are poverty reduction, job creation, GDP, and the development of a sound financial sector. However, despite the increased use and growth of mobile money in Uganda, it has presented the following challenges: Some of the problems undermining the future of this innovation include regulatory barriers, cybersecurity threats, compatibility questions, and consumer scepticism about digital financial services. Solving these challenges calls for cooperation between mobile money operators, regulators, policymakers, and other interested parties to foster innovation, competition, and consumer protection while enhancing the access and usage of financial services and products. This review examines mobile money adoption in Uganda. We used available data from many reputable databases, spanning the time period from 2010 to 2024. Findings suggest that in the future, mobile money in Uganda has bright prospects in terms of future trends, new uses, and improved connections with other electronic systems. New technologies like biometric identification, artificial intelligence, machine learning, and blockchain will enhance security, user experience, and other conditions that are necessary to fulfil user needs. Communication with mobile money providers, regulators, and stakeholders is a necessary step to fully benefit from these opportunities and manage the remaining challenges. Lastly, measures such as the promotion of consumer protection, availability of financial products and services, investment in technology, and constant public sensitization would go a long way towards tapping the full potential of mobile money in Uganda, as this fuels positive social and economic change in the country. Keywords: mobile money, Uganda, financial sector, cybersecurity, Gross Domestic Product (GDP)
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Vince, Gaia. "Mobile money proves its worth." New Scientist 205, no. 2748 (February 2010): 20–21. http://dx.doi.org/10.1016/s0262-4079(10)60405-8.
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Ocansey, Evans N. N. D., Philomena Dadzie, and Nicholas Bamegne Nambie. "Mobile Money Use, Digital Banking Services and Velocity of Money in Ghana." International Journal of Economics and Financial Issues 14, no. 2 (March 18, 2024): 218–33. http://dx.doi.org/10.32479/ijefi.15767.
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Investigating the correlation between digital financial services, mobile money usage, and money velocity in Ghana, the study analysed time series data spanning from 1992 to 2022. A composite index was constructed by principal component analysis using data extracted from the world development indicators, with the components mobile money usage, digital financial services, and velocity of money. The estimation utilised an impulse response function and vector error correction model; the results indicated that mobile money, digital financial services, and money velocity are related in both the short and long term. Furthermore, the application of a standard deviation innovation to the velocity of money produced increases of both positive and negative magnitude for all the variables. This suggests that mobile money, digital banking services, and velocity of money in Ghana are interdependent in an asymmetric manner. In order to facilitate an increase in the velocity of money, the research concluded that policymakers should guarantee that a greater proportion of the population has access to mobile money and digital banking services. In addition to promoting mobile money, online banking services, and digital payment methods on purpose, the government should reduce reliance on physical currency and expedite the circulation of money. It is recommended that future longitudinal studies involving African nations employ diverse estimation techniques.
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Mswahili, Ayoub. "Factors for Acceptance and Use of Mobile Money Interoperability Services." Journal of Informatics 2, no. 1 (March 26, 2022): 1–21. http://dx.doi.org/10.59645/tji.v2i1.45.
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Using mobile phones for financial transactions has been on a sharp increase globally and particularly in Tanzania. The introduction of mobile money interoperability allows customers to undertake money transfers across different telecom mobile money accounts and bank accounts. This study aimed to find out factors that may influence the acceptance and successful use of mobile money services interoperability that are tailored to banking and unbanked users' intention by integrating three globally accepted theories; DeLonge and McLean information system success model, The Technology Acceptance Model (TAM) and The Task-Technology Fit (TTF) Theory. The study hypotheses were empirically tested using data from 447 mobile money users from both telecom and banks. Data were analysed using the correlation and regression technique. This study found that approximately 81.5% of the dependent variable, which is interoperability of mobile money services, was accounted for by the regression analysis and therefore can strongly be explained very well by independent variables, which are Perceived Ease of Use; price value; Network Availability; Security and Trust; Service quality; Task Characteristics. This study's findings provide valuable understandings for formulating effective strategies concerning financial inclusion to mobile money service providers, governments, and other stakeholders and expand the existing customer base to mobile money service providers. Moreover, this study's results will provide the basis for further refinement of technology acceptance and success models in the emerging mobile money service domain.
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Wantchami, Nengieh Lizzie, Kingsley Lyonga Ngange, Hallepie Barbara Senge, Lingongo Oscar, and Akame Ebude. "Factors Influencing The Adoption And Use Of Mobile Money In Cameroon: Case Of Mobile Money Operators And Users In Buea." Advances in Social Sciences Research Journal 8, no. 4 (May 6, 2021): 698–708. http://dx.doi.org/10.14738/assrj.84.9973.
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Mobile Money is an innovation that has transformed e-business in the Cameroonian context. This study examines the factors that enhance the adoption and use of mobile money in Buea, capital of the South West Region of Cameroon. The theoretical framework used is the diffusion of innovation. The qualitative approach is adopted, with 10 mobile money operators and 10 mobile money users interviewed using a structured interview protocol. Results show that participants prefer adopting and using mobile services because they are easy to use, convenient, readily accessible, and have less charges compared to the traditional banking system. Telecommunications companies should therefore, continue to consider less charges and bonuses as a strategy to increase penetration and adoption of mobile money services. Likewise, the instructions and language essential to effect Mobile Money operations like internet and airtime purchase should remain simple.
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Manh, Bui Tan. "Mobile Money Services Pose a Threat to Money Laundering Prevention." INFLUENCE : International Journal of Science Review 2, no. 2 (August 25, 2020): 12–17. http://dx.doi.org/10.54783/influence.v2i2.102.
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Mobile money service has been proved an effective tool in financial industry in recent years around the world. Although this kind of financial service brings a number of advantages, many concerns have been raised regarding potential issues that may stem from the use of mobile money. Among these concerns are the issues of using mobile money to facilitate money laundering activities and terrorist financing. In order to mitigate those potential risks for financial system in general, this paper seeks to explore the mobile money characteristics that may pose risks to anti-money laundering and terrorist financing system. This work is based on the available information from scientific research, articles and reports, and other sources.
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Coffie, Cephas Paa Kwasi, and Hongjiang Zhao. "Semi-Systematic Review of the Perceived Cost of Mobile Payment in Sub-Saharan Africa." Perspectives on Global Development and Technology 20, no. 3 (August 12, 2021): 205–24. http://dx.doi.org/10.1163/15691497-12341592.
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Abstract Financial technology offers convenience, security, and affordability. In sub-Saharan Africa, mobile money is the flagship offering hypothesized to promote financial inclusion. Nonetheless, the persistent complaints from end-users about the cost associated with mobile money usage in the sub-region have gone under the radar. Therefore, using the semi-systematic review of news articles and blogs’ in direct content analysis, we explore the cost of mobile money usage in the sub-region. We examine the state of mobile charges and how it potentially reverses the original purpose of FinTech. Results indicate that governments and other stakeholders find mobile money charges to be high. The imposition of mobile money tax and the regressive structure of mobile money charges affect the poor. The effort of policymakers to reduce the cost of mobile money in the sub-region is ineffective because the FinTech market is dominated by few foreign-owned telecommunication companies. Thus, the creation and promotion of a domestic FinTech market are necessary to promote greater financial inclusion.
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Rwiza, Sigsbert, Mussa Kissaka, and Kosmas Kapis. "Security Model for Tracking Creation of Mobile Money Using Transport Layer Security Protocol." Tanzania Journal of Science 46, no. 3 (October 31, 2020): 791–806. http://dx.doi.org/10.4314/tjs.v46i3.19.
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Mobile Network Operator (MNO) financial service model has security vulnerabilities in addressing verification of cash and mobile money. For instance, monthly returns are transferred in plain text from banks and MNOs to financial regulators. This may result to failure of financial regulators in detecting creation of fake mobile money. This study was conducted to develop a security model for tracking creation of mobile money using Transport Layer security protocol as a way of protecting returns in transit from banks and MNOs to financial regulators. The proposed model was developed using insights from literature, function decomposition and composition techniques and was tested by prototyping the system for tracking creation of mobile money using Laravel PhP framework, apache webserver, JavaScript Object Notation (JSON) server and PhP programming language. The proposed model has eight components, namely; certificate authority, financial regulator server, bank server, MNO server, bank system, mobile money system, super-agent and mobile money issuer components.
Keywords: Security Model; Public Key Infrastructure (PKI); Tracking Creation; Transport Layer Security; Mobile Money;
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Nsangu, Exildah, and Lubinda Haabazoka. "A study of the effect of Mobile Money Services on Tax Compliance in zambia: A case of MFEZ and CBD Lusaka." African Journal of Commercial Studies 4, no. 2 (March 9, 2024): 80–92. http://dx.doi.org/10.59413/ajocs/v4.i2.1.
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The aim of this study was to assess the effect of mobile money services on tax compliance in Zambia, in the case of the Multi-Facility Economic Zone (MFEZ) and Central Business District (CBD) of Lusaka. The study objectives were first to establish the extent to which mobile money is used to pay tax to the Zambia Revenue Authority (ZRA) in Zambia. Secondly, it aimed to find out the challenges of using mobile money for tax compliance in Zambia and, lastly, explore potential measures and strategies that could be implemented to harness the potential of mobile money in augmenting tax compliance. Drawing upon both quantitative and qualitative research methodologies, this study employed surveys, interviews, and data analysis techniques to elucidate the intricate dynamics at play. Through rigorous data collection and analysis, the research aimed to provide insights into the utilization patterns, benefits, and challenges associated with mobile money in tax compliance. The findings of this study were expected to contribute significantly to the existing body of knowledge concerning mobile money adoption and its implications for tax compliance in developing economies. By shedding light on the specific nuances of the Zambian context, this research endeavored to offer actionable recommendations aimed at fostering an environment conducive to leveraging mobile money for enhanced tax compliance. From a broader perspective, this thesis aspires to not only deepen academic understanding but also offer practical implications for policymakers, tax authorities, financial institutions, and mobile money service providers in Zambia and beyond. The study established that, to a good extent, mobile money is used by taxpayers to pay presumption tax. It was also established in the study that mobile money can reduce the prevalence of cash transactions and can provide a digital trail of transactions, making it easier for governments to track and collect taxes. Using mobile money can also improve tax compliance.
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Pallangyo, Hakeem. "Cyber Security Challenges, its Emerging Trends on Latest Information and Communication Technology and Cyber Crime in Mobile Money Transaction Services." Tanzania Journal of Engineering and Technology 41, no. 2 (August 5, 2022): 189–204. http://dx.doi.org/10.52339/tjet.v41i2.792.
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This paper investigates the challenges emerging trends on latest Information and Communication Technology and cybercrime in mobile money transaction services in Tanzania. The objective of this is to evaluate the challenges associated with this rapid growth in ICT and to determine factors influencing Cybersecurity readiness and Cybercrimes in mobile money transaction services. Cyber Security plays a significant role in the field of Information and Communication Technology especially on mobile money transaction services. The study recognizes the provision of mobile money services by both telecommunication companies and local banks, the fact is that whenever we think about the cyber security, the first thing that comes to our mind is “cybercrimes” which are increasing extremely day to day and become a threat. Cybercrimes are mostly practiced through both internet and mobile money services. Securing the information has become one of the major challenges in the present day. Various Governments and companies are taking measures in order to prevent these cybercrimes. Besides cyber security remains concern to many. This paper mainly focuses on challenges faced by cyber security on the latest information and communication technology and cybercrime especially in mobile money transaction services in Tanzania. Its latest techniques, ethics and trends that change the face of cyber security. Relevant data was collected from the Forensic Section of the Tanzania Police Force, Mobile banking mobile money agents and users of the mobile-money services. This study also used the Pearson correlation and analysis of variance (ANOVA) to establish different facts and determine whether the independent variables had a combined effect on the dependent variable. The findings of the study revealed that there is a positive and significant correlation between users’ awareness, mobile money agents training, top management support, technical and logical controls and cybersecurity readiness. The study also concluded that effective training programs aimed to enlighten the users and mobile money agents on cybersecurity issues are an important ingredient for cybersecurity readiness in cybercrime in mobile money transaction services.
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Nambie, Nicholas Bamegne. "Poverty Reduction, Economic Growth, and Mobile Money Proliferation in Ghana." INTERNATIONAL JOURNAL OF ECONOMICS AND FINANCIAL MANAGEMENT 8, no. 3 (October 12, 2023): 16–39. http://dx.doi.org/10.56201/ijefm.v8.no3.2023.pg16.39.
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The study analysed the impact of poverty reduction, economic growth, on proliferation of mobile money in Ghana. Using data from the world development indicators and factor analysis, an index measuring mobile money, economic growth, and poverty reduction in Ghana was developed. The data ranged from 1980 to 2021, and a convenience sampling method was used to select the series from world development indicators (WDI) and indexes created to measure the primary variables. The Johansen cointegration method revealed that cointegration exists between the variables, indicating that the variables have long-term relationships. The results of Vector error correction indicated that there is both a long-term and a short-term relationship between the proliferation of mobile money, economic growth, and poverty reduction in Ghana. The findings indicated the existence of a short-term relationship between the variables. Granger causality test also confirmed that mobile money proliferation, economic growth, and poverty reduction in Ghana have a short-run causal relationship. Given the significant role that mobile money service plays in Ghana's economic growth, the study concluded that policymakers in Ghana would do well to pay attention to mobile money service. In order to reduce mobile money and cyber fraud, policymakers are also encouraged to make mobile money and banking services accessible, including financial literacy education, and to strengthen internal controls. Future research could examine the relationship between the proliferation of mobile money, credit assessment, employment, and investment in Africa.
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Owiredu, A. Owiredu, F. Antwi Antwi, and K. Nyako Gyimah Kofi Nyako Gyimah. "Determinants of Continuous Use of Mobile Money Payment Systems in Ghana." Pentvars Business Journal 12, no. 12 (June 30, 2019): 77–91. http://dx.doi.org/10.62868/pbj.v12i12.155.
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This study examines the effect of user’s satisfaction on post-acceptance behaviour of mobile money users. Specifically, the paper identifies satisfactory factors and further examines the relationship between satisfaction and continuous use of mobile money application at the post-acceptance phase. Data was collected from 696 mobile phone users who had subscribed to mobile money services. Partial least squares (PLS) (Smart PLS 3.0) were used to analyse the collected data to test proposed hypotheses. This study revealed that users’ satisfaction is a significant factor that influences their intentions to continue to use mobile money services. The results indicated that users’ satisfaction is strongly influenced by confirmation and perceived usefulness which in turn significantly impact on continuous use of mobile money applications. Also, perceived security and privacy exert significant impact on users satisfaction. It was noted that charges and fees were insignificant but positively related to users’ intentions to continue to use mobile money applications. The findings have implications on both telecommunication firms and policy makers as they offer practical guidelines in developing strategies to ensure continuous use of mobile money applications/ services as we improve upon financial inclusion in Ghana in particular and Africa in general. This study therefore fills the gap in the post-adoption stage of mobile money usage and further use in Ghana.
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Mahama, Fuseini, Alhassan Bunyaminu, Redruth Nyaaba Ayimpoya, and James Combert. "The influence of mobile money services on customers in the Bolgatanga municipality, Ghana." Edelweiss Applied Science and Technology 8, no. 4 (May 17, 2024): 56–69. http://dx.doi.org/10.55214/25768484.v8i4.1102.
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Mobile telecommunications can help low-income countries improve their fixed-line and internet infrastructures. Mobile phones boost information availability, reduce search costs, facilitate supply coordination, and benefit low-income people. Mobile banking, often known as m-money, uses mobile networks to allow account balance queries and money transfers without the use of physical infrastructure. Ghanaians strongly prefer mobile money transfer services because of their low cost and accessibility across all economic strata. These simple and dependable services are suitable for clients who have little financial means, as most Ghanaians do. There has been very little empirical research into the benefits and challenges of mobile money services. Because of a paucity of data at the individual level, research into the penetration of financial services in low-income countries such as Ghana is limited. This study looks at both the advantages and disadvantages of using mobile money services. The study analyzed data from a mobile money survey using Partial Squares Structural Equation Modelling (PLS-SEM). This evidence supports the hypothesis that benefits will increase customer sentiment, while restrictions will decrease patronage. The researchers will conduct additional research into the theoretical and practical implications of mobile money systems' benefits and drawbacks for consumers. It supports the hypothesis that advantages improve consumers' perceptions, while impediments reduce patronage. Additional research will consider both the theoretical and practical implications of mobile money systems' benefits and challenges for users.
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Nizam, Ahmed Mehedi. "Impact of e-money on money supply: Estimation and policy implication for Bangladesh." PLOS ONE 17, no. 4 (April 26, 2022): e0267595. http://dx.doi.org/10.1371/journal.pone.0267595.
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With the rapid proliferation of mobile telephony and the establishment of an IT-enabled payment and settlement system, Bangladesh nowadays is experiencing a remarkable growth in the usage of mobile financial services (MFS). As more and more people are opting to use this service, a huge number of mobile accounts are opened every day and a substantial amount of money is deposited, withdrawn and transferred frequently through the mobile network. This ever-increasing amount of mobile money flowing through the network may have a sizeable impact on the overall money supply of the country. Thus far, no systematic study has been conducted to quantify the impact of the mobile money on the conventional money supply of Bangladesh. In this study, we attempt to quantify the contribution of mobile money on the money supply which is an important quantity-based nominal anchor of monetary policy in Bangladesh. Apart from deriving algebraic relationships between money supply and e-money, here we have empirically shown that during the 03 years span of 2018-2021, MFS transactions account for nearly 10.88% and 11.29% of total narrow and broad money supply of Bangladesh as on January 2021. Besides, we also qualitatively discuss the impact of e-money on an important price-based nominal anchor of monetary policy in Bangladesh, i.e., interest rate. Based upon the above discussion, here we argue that MFS can act as an effective tool to slash interest rate by a reasonable proportion through adding significantly to the overall supply of money in Bangladesh.
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Nizam, Ahmed Mehedi. "Impact of e-money on money supply: Estimation and policy implication for Bangladesh." PLOS ONE 17, no. 4 (April 26, 2022): e0267595. http://dx.doi.org/10.1371/journal.pone.0267595.
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With the rapid proliferation of mobile telephony and the establishment of an IT-enabled payment and settlement system, Bangladesh nowadays is experiencing a remarkable growth in the usage of mobile financial services (MFS). As more and more people are opting to use this service, a huge number of mobile accounts are opened every day and a substantial amount of money is deposited, withdrawn and transferred frequently through the mobile network. This ever-increasing amount of mobile money flowing through the network may have a sizeable impact on the overall money supply of the country. Thus far, no systematic study has been conducted to quantify the impact of the mobile money on the conventional money supply of Bangladesh. In this study, we attempt to quantify the contribution of mobile money on the money supply which is an important quantity-based nominal anchor of monetary policy in Bangladesh. Apart from deriving algebraic relationships between money supply and e-money, here we have empirically shown that during the 03 years span of 2018-2021, MFS transactions account for nearly 10.88% and 11.29% of total narrow and broad money supply of Bangladesh as on January 2021. Besides, we also qualitatively discuss the impact of e-money on an important price-based nominal anchor of monetary policy in Bangladesh, i.e., interest rate. Based upon the above discussion, here we argue that MFS can act as an effective tool to slash interest rate by a reasonable proportion through adding significantly to the overall supply of money in Bangladesh.
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Koi-Akrofi, Joyce. "Mobile Money Adoption in Africa: A Literature-Based Analysis." Texila International Journal of Management 8, no. 2 (August 30, 2022): 170–81. http://dx.doi.org/10.21522/tijmg.2015.08.02.art014.
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The study sought to assess the factors that influence the adoption of mobile money banking and financial services in Africa. Despite the growth in the mobile money industry and its potential for the future, studies suggest that mobile money banking/financial services adoption remains low across sub-Saharan Africa. This research work employed a systematic literature review methodology, specifically, a literature-based analysis for the investigation. The researcher, for the purposes of this study, identified, selected, and critically reviewed only secondary data, which refers to data that has already been collected for some other. Twenty (20) recent articles on mobile money banking/financial services and external/internal factors, modeled by various theories concerning technology/innovation adoption, were gathered from highly recognized and profiled research databases, including Google Scholar, Research Gate, Emerald (database), Elsevier (database), Pro-quest, Scopus, and Springer. From the 20 articles reviewed, analyzed, and discussed, the number of external factors that influence mobile money adoption positively or negatively is twenty (20), while the count of internal factors that influence mobile money adoption positively or negatively is eight (8). In conclusion, the external factors outnumber the internal factors, but the internal factors are more grievous and have a significant impact on the mobile money service. The results of this research work also revealed the top five external factors researchers seem to encounter in their studies. The study provides significant insight into both external and internal factors affecting the adoption of mobile money services in Africa. Keywords: Africa, Databases, Mobile Money Banking/Financial services, Systematic.
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Acheampong, Winnifred, and Williams Kwame Boateng. "Assessing the Impact of Mobile Money Interoperability on Small and Medium Scale Enterprises Payments and Receipts in Ghana." Asian Journal of Economics, Business and Accounting 23, no. 20 (September 12, 2023): 14–25. http://dx.doi.org/10.9734/ajeba/2023/v23i201090.
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Background: The study examines the influence of mobile money interoperability on the payment and receipts of small and medium-sized businesses, with case studies from the Ga Central Municipal Assembly. The findings are intended to provide insight into how mobile money interoperability has benefited SMEs, as well as the level of awareness among SMEs and the challenges they face in using the mobile money interoperability service in their daily operations, in order to make recommendations to relevant stakeholders to improve service delivery in the municipal assembly and throughout Ghana.
Methods: The research design for the study is quantitative in nature specifically a survey design. The study established that mobile money interoperability has a positive effect on payment and receipts of SMEs in many ways.
Results: Accessibility, efficiency, and dependability, as well as transaction prices and transaction time, are all elements that influence SMEs' decision to use mobile money interoperability, according to the report. The study also discovered that mobile money interoperability has an impact on SMEs' profitability, sales turnover, credit sales/purchase payments, and daily sales.
Conclusions: The report recommends that SMEs improve their awareness of mobile money interoperability payment and receipt systems in order to increase usage and educate SMEs on interoperability theft, usage, and benefits in order to make it safer and more beneficial for them. Finally, the study recommended that mobile money providers make conscious efforts to strengthen the security characteristics of mobile money interoperability systems in order to prevent theft cases.
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Museba, Tapiwanashe James, Edmore Ranganai, and Gianfranco Gianfrate. "Customer perception of adoption and use of digital financial services and mobile money services in Uganda." Journal of Enterprising Communities: People and Places in the Global Economy 15, no. 2 (February 22, 2021): 177–203. http://dx.doi.org/10.1108/jec-07-2020-0127.
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Purpose This paper aims to investigate the impact of fintech, mobile money and digital financial services in Uganda and factors impacting adoption of the services. The study will also determine their social impact through financial inclusion in the Ugandan market. Design/methodology/approach This study covers the adoption and use of fintech, mobile money and digital financial services in Uganda. A case study approach was used through a survey questionnaire for 400 randomly selected participants within the Kampala region. Questionnaire was designed to measure customer perception of digital financial services and adoption including mobile money and agency banking. Findings The adoption of mobile money services is driven by mobile devices penetration and the need for access to financial products and services for the unbanked. Results support CGAP (2013) that observed that mobile money adoption was based on two key variables: social network and social interactions of the customer and a segment of customers who can be described as mobile technology leaders (early adopters). There has been positive impact on person to person transfers, grocery payments and mobile money providers have to continue to simplify the access to financial services and bring convenience to the bottom of the pyramid. And mobile money positively impacts sustainable developmental goals covering Gender Equality (SDG5), SDG 8 – Decent Work and Economic Growth; expanding financial inclusion through mobile money and SDG 10 – Reduce Inequalities. Research limitations/implications This study has limitations commonly prevalent with qualitative research, including the small size limited to Kampala and challenges of making generalisations beyond this context. Practical implications The paper might serve as a valuable source of information for government and fintech companies in developing the digital financial services ecosystem as well as for students and academics for further case studies in this area. Originality/value This paper serves as one of the first qualitative research papers concerning mobile money and digital financial services adoption, solely focused on Uganda. Its value is in its showcasing of the importance of mobile money among customers in emerging markets.
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MANSSOORI, JALATKHA, AL HUSSAINI ABULFATHI IBRAHIM SALEH, and ADAMU ABUBAKAR IBRAHIM. "Examining the Factors Influencing The Success of Mobile Money In Afghanistan." Journal of Information Systems and Digital Technologies 3, no. 1 (April 25, 2021): 40–64. http://dx.doi.org/10.31436/jisdt.v3i1.198.
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The advancement and rapid development of mobile money has created extraordinary opportunities for poor people in developing countries to help contribute in the development of the economy. Mobile money has formed an effective and efficient mechanism for the electronic transaction of money. Regardless of the remarkable improvement in the recent decades, the economy of Afghanistan has stills not improved. Citizens of the country are the poorest in the world. There is very limited accessibility to basic financial services due to the lack of e-transaction and banking services. The introduction of mobile money as an electronic transfer of money can be a partial solution to the problems being faced in Afghanistan. However, a lack of system quality, information quality and service quality assurances is an essential problem for the success and usage of mobile money which need to be improved. This research aims to determine the impact and influence of system, information, and service qualities on the use of mobile money. DeLone and McLean IS Success Model has been adapted as the theory to evaluate the success of mobile money services based on four influencing factors. Data collection through an online survey questionnaire was performed. The data has been analyzed and the finding indicate that, system quality, information quality, service quality and customer value have significant and positive impact on the success of mobile money services in Afghanistan.
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sishumba, Jackson, John Mapalo Mulenga, and Loti Saidi. "An Evaluation of Factors that Influence the Adoption of Mobile Money Services by Zambain Univsersity Students. A Case of ZCAS University." International Journal of Research and Innovation in Social Science VIII, no. IV (2024): 2616–39. http://dx.doi.org/10.47772/ijriss.2024.804252.
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Mobile money services in Zambia, like in many other African countries, have been experiencing a significant growth in their user base. According to Bank of Zambia records, the value of mobile money transactions in 2023 skyrocketed by an astonishing 52.8%, reaching a staggering K452.0 billion. This remarkable statistic serves as evidence of acceptability and adoption of digital financial services among Zambian consumers. The mobile money services were deemed to be financial services for the poor and unformalized business communities, surprisingly, with the passage of time mobile services have gained so much popularity even among the elite communities. This study evaluates the factors that influence the adoption of mobile money by Zambian university students using ZCAS-University as a case study. The research adopted a mixed method approach and used questionnaires and semi-structure interviews to collect data from a sample size of 150 students. The quantitative data was then analyzed using statistical package for social sciences while the qualitative data was analyzed using thematic technique. The findings were that students adopted mobile money mainly due to accessibility and ease of use. The study showed that they were areas where banks were better than mobile money in terms of security and professionalism, therefore, students did not adopt mobile money because it was highly better than banks but because it was more accessible. Other factors such as ease of use, perceived usefulness and affordability played a role in the adoption of mobile money in varying degrees.
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SIÚTA, MOISÉS, and FERNANDO LICHUCHA. "Economic Inequality and Mobile Money Usage in Mozambique." African Journal of Governance and Development (AJGD) 13, no. 1 (July 30, 2024): 152–70. http://dx.doi.org/10.36369/2616-9045/2024/v13i1a9.
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The paper examines the impact of economic inequality on the Mobile Money services usage in Mozambique based on 2017 population census and 2020 household survey data. The study revealed two main findings. Firstly, it explores the influence of economic inequality on Mobile Money usage across 155 districts. Employing quantile regression analysis, the study shows that economic inequality, as measured by the Gini of the average asset ownership index and access to basic services, significantly affects the use of Mobile Money services. Higher levels of inequality are linked to reduced usage of Mobile Money services, with a 1% increase in the Gini index of the average asset ownership index corresponding to a 1.73% decrease in the district's Mobile Money usage rate. Secondly, at the individual level, the study employs probit and linear probability models to analyse the determinants of Mobile Money usage. The results indicate that factors such as asset ownership, access to basic services, gender, and residential location play significant roles in explaining the probability of individuals using Mobile Money services. The policy implications of the findings emphasize the need to addressing inequality beyond the financial sector to achieve successful financial inclusion efforts.
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Rulangaranga, Donatus Mugisha, Eva Mpaata, and Joshua Muwema. "Mobile money regulations and protection of users of Mobile Money in Uganda." International Journal Of Management And Economics Invention, October 30, 2016. http://dx.doi.org/10.18535/ijmei/v2i10.03.
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