The majority of the world population is not covered by the mainstream financial sector. As such, mobile money services are seen as a cost effective and efficient way of increasing financial inclusion. However, there remains some factors that impede the development of mobile money services. Therefore, this study sought to analyse these factors with a view to identifying strategies that can be used to accelerate the development of mobile money services.
State of mobile banking in tanzania andIJNSA Journal
This document summarizes the state of mobile banking in Tanzania. It discusses the key players in the mobile banking ecosystem including mobile network operators, banks, agents, merchants, and regulatory bodies. The four main mobile banking services in Tanzania are discussed: M-Pesa, Ezy-Pesa, AirtelMoney, and Tigo Pesa. M-Pesa has the largest market share at 53%. Security challenges with mobile banking are also covered, such as malware threats from downloads, messaging, and Bluetooth. Collaboration between players is important but also presents challenges around revenue sharing and strategic decision making.
Mobile money service as an opportunity for the growth of commercial banks in ...Alexander Decker
This document discusses mobile money services in Tanzania and their potential to promote financial inclusion and commercial bank growth. It finds that mobile money services have significantly expanded access to financial services for the previously unbanked in Tanzania by leveraging the widespread adoption of mobile phones. Studies cited show mobile money reduces transaction costs and improves access to payments, remittances, and other services. As most Tanzanians, including the unbanked, now have mobile phones, mobile money provides a platform to incorporate them into the formal financial system. This represents an opportunity for commercial banks to partner with mobile money providers to bank the unbanked and further their own growth.
Over the last decade, Africa has become a global leader in mobile money with the rate of smartphone adoption at twice the global scale. But what challenges is the industry facing and how can these be overcome? Our new article, sponsored by Mazars, explores.
Journal Publication on ROLE OF MOBILE BANKING IN ENHANCING FINANCIAL PERFORMA...Muiruri Kariri
This document summarizes a study on the role of mobile banking in enhancing the financial performance of micro and small enterprises (MSEs) in Nakuru town, Kenya. The study found that there is a strong, significant, and positive correlation between the timeliness and reliability of mobile banking and the financial performance of MSEs. Adopting mobile banking was found to likely improve MSEs' financial performance due to mobile banking's timeliness and reliability. The study recommends that MSEs fully adopt mobile banking services.
Mobile banking has great potential to promote financial inclusion in Africa. By reducing geographic and cost barriers, mobile banking allows commercial banks to expand into new areas at low cost. Kenya and South Africa have been leaders in mobile banking, with services like M-Pesa in Kenya growing exponentially and bringing millions of unbanked individuals into the formal financial system. Partnerships between mobile operators, banks, and microfinance institutions can further expand access to affordable financial services across Africa through mobile phones.
Mobile payment has grown rapidly in West Africa in recent years, enabled by increasing mobile phone adoption. However, several challenges remain:
1. Territorial coverage of mobile networks and agent networks remains inadequate, especially in rural areas.
2. Agent networks provide an important mode of distribution but remain limited in scale and sustainability.
3. Lack of interoperability between mobile operators limits the scope of mobile payment services.
4. The cost of implementing innovative solutions like online bill payment and government services is prohibitive for many West African governments.
5. Regulation of mobile financial services remains imprecise, which could limit further growth and innovation in the sector. Overcoming these challenges will be important to realize
This document provides a summary of how three major mobile network operators in Indonesia - Telkomsel, Indosat, and XL - implemented mobile money interoperability between their platforms in just six months. The operators recognized that an interconnected mobile money system would allow customers to transfer funds across networks, strengthening the value proposition and increasing competitiveness in Indonesia's growing payments market. With support from new regulations enabling broader agent networks, the CEOs of the three operators began discussions in late 2012 and agreed to prioritize real-time account-to-account transfers across platforms. Each operator maintained technical independence while collaborating at high levels and through cross-functional teams to launch interoperability in May 2013.
This document provides an overview of mobile money services in India. It defines mobile money and describes its key characteristics, including using agents outside bank branches to deposit and withdraw funds and initiating transactions via mobile phones. Globally, there are 411 million mobile money accounts across 93 countries. The document outlines reasons for mobile money's potential success in India, including high mobile penetration, financial inclusion needs, and government initiatives. It lists some prominent Indian mobile wallet providers and payments banks. Finally, it discusses factors important for mobile money to succeed in India, such as digital and financial inclusion, awareness/education, regulatory reforms, and customer confidence.
State of mobile banking in tanzania andIJNSA Journal
This document summarizes the state of mobile banking in Tanzania. It discusses the key players in the mobile banking ecosystem including mobile network operators, banks, agents, merchants, and regulatory bodies. The four main mobile banking services in Tanzania are discussed: M-Pesa, Ezy-Pesa, AirtelMoney, and Tigo Pesa. M-Pesa has the largest market share at 53%. Security challenges with mobile banking are also covered, such as malware threats from downloads, messaging, and Bluetooth. Collaboration between players is important but also presents challenges around revenue sharing and strategic decision making.
Mobile money service as an opportunity for the growth of commercial banks in ...Alexander Decker
This document discusses mobile money services in Tanzania and their potential to promote financial inclusion and commercial bank growth. It finds that mobile money services have significantly expanded access to financial services for the previously unbanked in Tanzania by leveraging the widespread adoption of mobile phones. Studies cited show mobile money reduces transaction costs and improves access to payments, remittances, and other services. As most Tanzanians, including the unbanked, now have mobile phones, mobile money provides a platform to incorporate them into the formal financial system. This represents an opportunity for commercial banks to partner with mobile money providers to bank the unbanked and further their own growth.
Over the last decade, Africa has become a global leader in mobile money with the rate of smartphone adoption at twice the global scale. But what challenges is the industry facing and how can these be overcome? Our new article, sponsored by Mazars, explores.
Journal Publication on ROLE OF MOBILE BANKING IN ENHANCING FINANCIAL PERFORMA...Muiruri Kariri
This document summarizes a study on the role of mobile banking in enhancing the financial performance of micro and small enterprises (MSEs) in Nakuru town, Kenya. The study found that there is a strong, significant, and positive correlation between the timeliness and reliability of mobile banking and the financial performance of MSEs. Adopting mobile banking was found to likely improve MSEs' financial performance due to mobile banking's timeliness and reliability. The study recommends that MSEs fully adopt mobile banking services.
Mobile banking has great potential to promote financial inclusion in Africa. By reducing geographic and cost barriers, mobile banking allows commercial banks to expand into new areas at low cost. Kenya and South Africa have been leaders in mobile banking, with services like M-Pesa in Kenya growing exponentially and bringing millions of unbanked individuals into the formal financial system. Partnerships between mobile operators, banks, and microfinance institutions can further expand access to affordable financial services across Africa through mobile phones.
Mobile payment has grown rapidly in West Africa in recent years, enabled by increasing mobile phone adoption. However, several challenges remain:
1. Territorial coverage of mobile networks and agent networks remains inadequate, especially in rural areas.
2. Agent networks provide an important mode of distribution but remain limited in scale and sustainability.
3. Lack of interoperability between mobile operators limits the scope of mobile payment services.
4. The cost of implementing innovative solutions like online bill payment and government services is prohibitive for many West African governments.
5. Regulation of mobile financial services remains imprecise, which could limit further growth and innovation in the sector. Overcoming these challenges will be important to realize
This document provides a summary of how three major mobile network operators in Indonesia - Telkomsel, Indosat, and XL - implemented mobile money interoperability between their platforms in just six months. The operators recognized that an interconnected mobile money system would allow customers to transfer funds across networks, strengthening the value proposition and increasing competitiveness in Indonesia's growing payments market. With support from new regulations enabling broader agent networks, the CEOs of the three operators began discussions in late 2012 and agreed to prioritize real-time account-to-account transfers across platforms. Each operator maintained technical independence while collaborating at high levels and through cross-functional teams to launch interoperability in May 2013.
This document provides an overview of mobile money services in India. It defines mobile money and describes its key characteristics, including using agents outside bank branches to deposit and withdraw funds and initiating transactions via mobile phones. Globally, there are 411 million mobile money accounts across 93 countries. The document outlines reasons for mobile money's potential success in India, including high mobile penetration, financial inclusion needs, and government initiatives. It lists some prominent Indian mobile wallet providers and payments banks. Finally, it discusses factors important for mobile money to succeed in India, such as digital and financial inclusion, awareness/education, regulatory reforms, and customer confidence.
Analysis on Challenges Small Business Face in using the MBanking/Payment Serv...Dr. Amarjeet Singh
Mobile banking services are at the present
increasingly used to accomplish economic transactions by the
business people who would have followed long processes to
complete their transaction deals. Despite the importance of
mobile banking, several studies indicate that the industry still
faces challenges including lack of awareness among the
business parties and customers. Though large populations of
Kenyans have embraced the new technology in most of their
transactions, the contribution of the new technology on small
scale enterprises has received very little attention from the
scholars. The main purpose of this study was to identifying
and rank the challenges faced by the residents as they try to
embrace the mobile banking services. The study adopted a
survey design where data was collected from selected
respondents. The population of the study comprises of 730
small business enterprises. Simple random sampling technique
was used to select 88 small business enterprises based on 95%
confidence level and accepting 5% margin of error as
recommended for most business and social researches.
Primary data was collected from the respondents. Data was
analyzed by using statistical package for social sciences (SPSS)
and it was presented in the form of graphs, tables and charts.
Analysis of the data revealed that the highest challenge faced
by the business owners was the cost of transaction with a
cumulative percentage of 51.3 as compared with other
challenges.
The document summarizes a literature review of regulations and interoperability of mobile money schemes in 46 developing countries. Key findings include:
- 33 of the 46 countries reviewed have some form of regulation covering mobile money, with 24 allowing non-bank models.
- 21 countries have interoperable mobile money schemes in some form, while 18 have specific regulations on interoperability, though 6 of these countries do not have interoperable markets.
- Mobile money was introduced in many countries from 2011-2013, with the number of deployments and providers growing rapidly, though uptake varies significantly between countries. India and Nigeria have the largest number of mobile money schemes.
In order to reduce cash handling cost of banks amongst other objectives, the Central Bank of Nigeria introduced the ‘cashless policy’. The success of this policy hinges on the adoption of alternative payment systems one of which is mobile banking. Thus it is imperative for policy makers and other relevant stakeholders to anticipate and deal with inhibitions surrounding the adoption of mobile banking by bank customers in the country. This study investigates the determinants of mobile banking adoption in Nigeria using a modified version of Technology Acceptance Model (TAM). This incorporates Perceived Risk, Facilitating Conditions and Demographic Characteristics (Age, Gender, Educational Qualification and Income) to Perceived Usefulness and Perceived Ease-of-Use as determinants of Mobile Banking Adoption. We also propose that this relationship is mediated by attitude towards mobile banking adoption. A total of 250 bank customers from the Lagos area were selected and a structured questionnaire was designed and copies distributed to them. Data was analysed using multiple regression and computed using SPSS 20.0 computer application. Results show that Perceived Usefulness, Perceived Ease-of-Use, perceived Risk, Facilitating Conditions, Age, Educational Qualifications and Income significantly determine Mobile Banking Adoption. However, the relationship between gender and Mobile Banking Adoption is not significant. The outcome of this study has some implications to m-banking policy formulation and implementation. It also throws more light into what should be done to improve mbanking adoption rate in Nigeria
Branchless Banking in Africa aims to provide banking services to underserved populations. Most adults in Africa are unbanked due to factors like remote locations, poverty, and lack of financial education. Mobile money has achieved success in some countries by offering convenient cash transfers via cell phones, but does not provide full banking services. Traditional banks seek new ways to reach rural customers and offer savings, payments, loans and more using innovative technologies and distribution models beyond physical branches.
ADOPTION OF MOBILE BANKING IN SAUDI ARABIA: AN EMPIRICAL EVALUATION STUDYIJMIT JOURNAL
This study explores the adoption of mobile banking practices in Saudi Arabia. It focuses on the existence of
sufficient infrastructure, and the possible challenges that m-banking services may face. Also, discovers the
potential opportunities in the country. A sample of banks in Saudi Arabia was surveyed via questionnaire,
with a particular focus on the staff in the related IT departments. The findings demonstrate that although
m-banking is believed to be important, there is a general lack of awareness, and it is still not widely
accepted by the public. M-banking services provided should be easier to use and offer more security to its
users. Furthermore, findings reveal that cooperation among the concerned parties is currently not
extensive. From this, the researcher recommends that governing regulations and policies should be
properly identified and put in place, and proposes that banking decision-makers in Saudi Arabia should reevaluate
their bank’s strategic plans.
ADOPTION OF MOBILE BANKING IN SAUDI ARABIA: AN EMPIRICAL EVALUATION STUDYIJMIT JOURNAL
This study explores the adoption of mobile banking practices in Saudi Arabia. It focuses on the existence of sufficient infrastructure, and the possible challenges that m-banking services may face. Also, discovers the potential opportunities in the country. A sample of banks in Saudi Arabia was surveyed via questionnaire, with a particular focus on the staff in the related IT departments. The findings demonstrate that although m-banking is believed to be important, there is a general lack of awareness, and it is still not widely accepted by the public. M-banking services provided should be easier to use and offer more security to its users. Furthermore, findings reveal that cooperation among the concerned parties is currently not extensive. From this, the researcher recommends that governing regulations and policies should be properly identified and put in place, and proposes that banking decision-makers in Saudi Arabia should reevaluate their bank’s strategic plans.
Adoption of Mobile Banking in Saudi Arabia : An Emprical Evaluation StudyIJMIT JOURNAL
This study explores the adoption of mobile banking practices in Saudi Arabia. It focuses on the existence of sufficient infrastructure, and the possible challenges that m-banking services may face. Also, discovers the potential opportunities in the country. A sample of banks in Saudi Arabia was surveyed via questionnaire, with a particular focus on the staff in the related IT departments. The findings demonstrate that although m-banking is believed to be important, there is a general lack of awareness, and it is still not widely accepted by the public. M-banking services provided should be easier to use and offer more security to its users. Furthermore, findings reveal that cooperation among the concerned parties is currently not extensive. From this, the researcher recommends that governing regulations and policies should be properly identified and put in place, and proposes that banking decision-makers in Saudi Arabia should reevaluate their bank’s strategic plans
The International Journal of Engineering & Science is aimed at providing a platform for researchers, engineers, scientists, or educators to publish their original research results, to exchange new ideas, to disseminate information in innovative designs, engineering experiences and technological skills. It is also the Journal's objective to promote engineering and technology education. All papers submitted to the Journal will be blind peer-reviewed. Only original articles will be published.
The papers for publication in The International Journal of Engineering& Science are selected through rigorous peer reviews to ensure originality, timeliness, relevance, and readability.
Effect of Mobile Banking on Financial Performance of Commercial Banks in Kisi...paperpublications3
Abstract: Around half of the world’s population is out of formal banking and financial services. For this reason, several mobile payment trend studies have revealed the potential of mobile network technologies for payment purposes. The main objective of the study was to assess the effect of mobile banking to financial performance of commercial banks in Kisii Town, Kenya. The specific objectives of the study were to evaluate the effect of perceived security of mobile payments technology on financial performance of commercial banks in Kisii Town, to determine the effect of perceived ease of accessibility of mobile payments technology on financial performance of commercial banks in Kisii Town and to determine the effect of transaction cost of mobile payment technology on financial performance of commercial banks in Kisii Town. The study used a sample of 255 respondents which was drawn from Operation Managers, clients, cashiers and 7 M-Pesa paying agents. The data collected were analyzed by use of descriptive statistics and inferential statistics with the help of Social Sciences version 21 software. The study found out that, perceived cost, perceived access and perceived security of mobile payments technology have a significant influence on the financial performance of commercial banks. The study concluded that the transaction cost of mobile payment is cheap, mobile banking money can be sent any time of day; it saves time of travelling and that mobile banking transactions are processed in accordance with clients’ expectations besides providing evident of payment to another person.
Keywords: Craft, External equity, Financing, Growth, Microenterprise, Tabaka.
Title: Effect of Mobile Banking on Financial Performance of Commercial Banks in Kisii Town, Kenya
Author: Isabellah Mageto, Dr. Willy Mwangi Muturi, Dr. Vitalis Mogwambo Abuga
ISSN 2349-7807
International Journal of Recent Research in Commerce Economics and Management (IJRRCEM)
Paper Publications
The mobile money movement by mpay connect dec 2010 innovations publication ...Menekse Gencer
The genesis of this publication came from a presentation I gave at Columbia University during spring 2010. This publication was written by Menekse Gencer of mPay Connect, a mobile money consulting firm, and will come out in hard copy with MIT Press Innovations Magazine in 2011. To contact the author: http://www.mpayconnect.com/contact
The document discusses the mobile money landscape in Benin. It notes that mobile money has significantly increased financial inclusion in Benin, where mobile penetration is around 87% but banking penetration is only around 10%. Mobile money facilitates around 8 billion CFA francs in deposits and 7 billion CFA francs in withdrawals daily. The goal is to increase use of digital financial services like mobile money to 12% of Benin's adult population by 2019. Currently, mobile network operators generally require partnerships with banks to provide mobile money services, but some operators are seeking direct licenses to become electronic money issuers and distribute payment means independently.
Mobile banking has grown in Nigeria in recent years as banks offer SMS banking, funds transfers, bill payments, and other services via mobile phones. However, the paper identifies several challenges to the operation of mobile banking in Nigeria, including insecure environments, interoperability issues between different mobile devices, unstable power and network infrastructure, and low financial literacy among many Nigerians. The paper proposes that Nigerian banks adopt a "non-bank led model" of mobile banking to make services more transformational and accessible to the unbanked, rather than just adding a new channel for existing customers. Future research is needed to address challenges like security, scalability, and expanding financial inclusion through mobile banking in Nigeria.
RBZ GOVERNORS SPEECH - 2016 - AGENT BANKING AND DIGITAL FINANCIAL SERVICESKingstone Pumula Kanyile
1) The document discusses agent banking and digital financial services in Zimbabwe, noting their potential to increase access to financial services.
2) It outlines Zimbabwe's National Financial Inclusion Strategy to increase access to affordable financial services to 90% of the population by 2020.
3) The Reserve Bank of Zimbabwe regulates digital financial services and agent banking, which have grown significantly in recent years and now include over 3,000 agent banking outlets and 39,000 mobile payment agents.
Mobile payments via SMS and digital wallets have the potential to revolutionize commerce and banking globally. SMS payments can provide banking access to the billions of "unbanked" individuals in developing regions by allowing basic money transfers via text. Digital wallets integrate payment options and purchase history tracking to enable personalized shopping experiences through targeted discounts and recommendations. While technologies like NFC and BLE enable mobile payments at retailers, digital wallets provide the means to capture complete consumer profiles across multiple retailers, generating valuable data and opportunities for smarter payments.
Digital financial services are becoming increasingly important, moving transactions from cash-based to digital. This is bringing convergence between mobile networks and banking services. Regulations need to collaborate across sectors to address this change. Light-touch regulation can encourage innovation while still protecting consumers. Competition regulations must ensure fair access to networks and interoperability to avoid dominance by large players.
This document summarizes a research study on the reality of achieving a cashless society in Rwanda. The study used data from the National Bank of Rwanda from 2012-2013 to analyze trends in electronic payment methods like ATMs, point-of-sale terminals, mobile and internet banking. The analysis showed growth in the numbers of electronic transactions and devices during this period. A correlation analysis also showed a strong relationship between increased numbers of ATMs/POS terminals and higher transaction numbers and values. However, the values of ATM/POS transactions were still relatively low. The study concludes that while Rwanda is making progress towards a cashless society through expanded electronic infrastructure and services, increased investment is still needed along with laws and awareness to
Five Talents has challenged a team to help the Mama Bahati Foundation (MBF) in Tanzania address security risks from transporting cash and assess options to incorporate mobile money. The team researched other Tanzanian MFIs' use of mobile money, evaluated the Musoni platform, and considered alternatives. They found that Musoni could help MBF securely disburse loans and collect repayments, though it may not reduce costs or ensure long-term sustainability on its own. Voluntary savings and loan associations (VSLAs) were identified as a potential complementary approach.
Outline: Tanzanian MFS Landscape: Current Status; Maximizing Opportunities in Tanzania; Mitigating Challenges and Risks in MFS in Tanzania; Pushing MFS to the next level in Tanzania; and Lesson for Africa: Key Take Homes.
Abstract
There has been significant growth and penetration of mobile financial services across the globe especially in
developing countries. The poor are the target customers and beneficiaries of the mobile financial services as it
provides the much needed access which formal financial service providers could not. The dominant paradigm is
the conventional top-down models such as technology adoption model (TAM) and unified theory of acceptance
and use of technology (UTAUT). These theoretical models are mainly based on individual factors such as
perceived ease of use, perceived usefulness, perceived credibility and perceived financial cost to study access,
adoption and usage of mobile financial services. These conventional top-down models are insufficient in
explaining the access, adoption and continued usage of mobile financial services by the poor. The pro-poor
perspective is a bottom up approach that seeks to understand the poor specific issues of pro-poor access,
adoption and continued usage of mobile financial service by the poor. The pro-poor contextual factors influence
the pro-poor access, community factors influence the pro-poor adoption and cultural factors influence the propoor
continued usage of mobile financial services by the poor. We establish gaps in literature in the light of the
pro-poor perspective and proposes an alternative pro-poor conceptual model to better explain the pro-poor
access, adoption and continued usage of mobile financial services among the poor. The proposed model could
unearth the influence of pro-poor factors and their relationships with pro-poor access, adoption and usage of
mobile financial services. Once validated the model could enrich the mobile financial services studies and will be
of valuable use by researchers in the field of mobile financial services among poor.
Keywords: Mobile Financial Services, Adoption, Usage, Technology and Poverty
Amplifying the Impact: Examining the Intersection of Mobile Health and Mobile...Menekse Gencer
This report was written by Menekse Gencer, mPay Connect for The World Economic Forum and The mHealth Alliance. It was published for the Davos Summit January 2011 and is a seminal report that examines the intersections between mHealth and Mobile Financial Services and how they can amplify outcomes through cross-sector efforts.
STATE OF MOBILE BANKING IN TANZANIA AND SECURITY ISSUESIJNSA Journal
Mobile technology offers an unprecedented growth opportunity for banking industry in Tanzania. As the economy continues to prosper, increasingly affluent consumers and underbanked segments create demand for new financial products and services. Many consumers in Tanzania have mobile phones, but not bank accounts. Therefore, the mobile channel presents an effective way to connect them to the national financial grid. For the local banks, going mobile may increase banks opportunities to unlock the inherent potential of underbanked segments. This paper addresses the current state, future prospects, and security challenges to the usage of mobile banking in Tanzania.
This document outlines a survey to examine the impacts of Ghana's e-levy tax on mobile money services and the challenges facing mobile money agents. The survey will focus on agents belonging to the Mobile Money Agents Association of Ghana (MMAAG). It will use questionnaires to collect data from agents on the challenges of the e-levy and how it affects their businesses and the mobile money sector. The purpose is to bring attention to the neglected role of agents in the mobile money industry and provide recommendations to policymakers on supporting this important stakeholder group.
Analysis on Challenges Small Business Face in using the MBanking/Payment Serv...Dr. Amarjeet Singh
Mobile banking services are at the present
increasingly used to accomplish economic transactions by the
business people who would have followed long processes to
complete their transaction deals. Despite the importance of
mobile banking, several studies indicate that the industry still
faces challenges including lack of awareness among the
business parties and customers. Though large populations of
Kenyans have embraced the new technology in most of their
transactions, the contribution of the new technology on small
scale enterprises has received very little attention from the
scholars. The main purpose of this study was to identifying
and rank the challenges faced by the residents as they try to
embrace the mobile banking services. The study adopted a
survey design where data was collected from selected
respondents. The population of the study comprises of 730
small business enterprises. Simple random sampling technique
was used to select 88 small business enterprises based on 95%
confidence level and accepting 5% margin of error as
recommended for most business and social researches.
Primary data was collected from the respondents. Data was
analyzed by using statistical package for social sciences (SPSS)
and it was presented in the form of graphs, tables and charts.
Analysis of the data revealed that the highest challenge faced
by the business owners was the cost of transaction with a
cumulative percentage of 51.3 as compared with other
challenges.
The document summarizes a literature review of regulations and interoperability of mobile money schemes in 46 developing countries. Key findings include:
- 33 of the 46 countries reviewed have some form of regulation covering mobile money, with 24 allowing non-bank models.
- 21 countries have interoperable mobile money schemes in some form, while 18 have specific regulations on interoperability, though 6 of these countries do not have interoperable markets.
- Mobile money was introduced in many countries from 2011-2013, with the number of deployments and providers growing rapidly, though uptake varies significantly between countries. India and Nigeria have the largest number of mobile money schemes.
In order to reduce cash handling cost of banks amongst other objectives, the Central Bank of Nigeria introduced the ‘cashless policy’. The success of this policy hinges on the adoption of alternative payment systems one of which is mobile banking. Thus it is imperative for policy makers and other relevant stakeholders to anticipate and deal with inhibitions surrounding the adoption of mobile banking by bank customers in the country. This study investigates the determinants of mobile banking adoption in Nigeria using a modified version of Technology Acceptance Model (TAM). This incorporates Perceived Risk, Facilitating Conditions and Demographic Characteristics (Age, Gender, Educational Qualification and Income) to Perceived Usefulness and Perceived Ease-of-Use as determinants of Mobile Banking Adoption. We also propose that this relationship is mediated by attitude towards mobile banking adoption. A total of 250 bank customers from the Lagos area were selected and a structured questionnaire was designed and copies distributed to them. Data was analysed using multiple regression and computed using SPSS 20.0 computer application. Results show that Perceived Usefulness, Perceived Ease-of-Use, perceived Risk, Facilitating Conditions, Age, Educational Qualifications and Income significantly determine Mobile Banking Adoption. However, the relationship between gender and Mobile Banking Adoption is not significant. The outcome of this study has some implications to m-banking policy formulation and implementation. It also throws more light into what should be done to improve mbanking adoption rate in Nigeria
Branchless Banking in Africa aims to provide banking services to underserved populations. Most adults in Africa are unbanked due to factors like remote locations, poverty, and lack of financial education. Mobile money has achieved success in some countries by offering convenient cash transfers via cell phones, but does not provide full banking services. Traditional banks seek new ways to reach rural customers and offer savings, payments, loans and more using innovative technologies and distribution models beyond physical branches.
ADOPTION OF MOBILE BANKING IN SAUDI ARABIA: AN EMPIRICAL EVALUATION STUDYIJMIT JOURNAL
This study explores the adoption of mobile banking practices in Saudi Arabia. It focuses on the existence of
sufficient infrastructure, and the possible challenges that m-banking services may face. Also, discovers the
potential opportunities in the country. A sample of banks in Saudi Arabia was surveyed via questionnaire,
with a particular focus on the staff in the related IT departments. The findings demonstrate that although
m-banking is believed to be important, there is a general lack of awareness, and it is still not widely
accepted by the public. M-banking services provided should be easier to use and offer more security to its
users. Furthermore, findings reveal that cooperation among the concerned parties is currently not
extensive. From this, the researcher recommends that governing regulations and policies should be
properly identified and put in place, and proposes that banking decision-makers in Saudi Arabia should reevaluate
their bank’s strategic plans.
ADOPTION OF MOBILE BANKING IN SAUDI ARABIA: AN EMPIRICAL EVALUATION STUDYIJMIT JOURNAL
This study explores the adoption of mobile banking practices in Saudi Arabia. It focuses on the existence of sufficient infrastructure, and the possible challenges that m-banking services may face. Also, discovers the potential opportunities in the country. A sample of banks in Saudi Arabia was surveyed via questionnaire, with a particular focus on the staff in the related IT departments. The findings demonstrate that although m-banking is believed to be important, there is a general lack of awareness, and it is still not widely accepted by the public. M-banking services provided should be easier to use and offer more security to its users. Furthermore, findings reveal that cooperation among the concerned parties is currently not extensive. From this, the researcher recommends that governing regulations and policies should be properly identified and put in place, and proposes that banking decision-makers in Saudi Arabia should reevaluate their bank’s strategic plans.
Adoption of Mobile Banking in Saudi Arabia : An Emprical Evaluation StudyIJMIT JOURNAL
This study explores the adoption of mobile banking practices in Saudi Arabia. It focuses on the existence of sufficient infrastructure, and the possible challenges that m-banking services may face. Also, discovers the potential opportunities in the country. A sample of banks in Saudi Arabia was surveyed via questionnaire, with a particular focus on the staff in the related IT departments. The findings demonstrate that although m-banking is believed to be important, there is a general lack of awareness, and it is still not widely accepted by the public. M-banking services provided should be easier to use and offer more security to its users. Furthermore, findings reveal that cooperation among the concerned parties is currently not extensive. From this, the researcher recommends that governing regulations and policies should be properly identified and put in place, and proposes that banking decision-makers in Saudi Arabia should reevaluate their bank’s strategic plans
The International Journal of Engineering & Science is aimed at providing a platform for researchers, engineers, scientists, or educators to publish their original research results, to exchange new ideas, to disseminate information in innovative designs, engineering experiences and technological skills. It is also the Journal's objective to promote engineering and technology education. All papers submitted to the Journal will be blind peer-reviewed. Only original articles will be published.
The papers for publication in The International Journal of Engineering& Science are selected through rigorous peer reviews to ensure originality, timeliness, relevance, and readability.
Effect of Mobile Banking on Financial Performance of Commercial Banks in Kisi...paperpublications3
Abstract: Around half of the world’s population is out of formal banking and financial services. For this reason, several mobile payment trend studies have revealed the potential of mobile network technologies for payment purposes. The main objective of the study was to assess the effect of mobile banking to financial performance of commercial banks in Kisii Town, Kenya. The specific objectives of the study were to evaluate the effect of perceived security of mobile payments technology on financial performance of commercial banks in Kisii Town, to determine the effect of perceived ease of accessibility of mobile payments technology on financial performance of commercial banks in Kisii Town and to determine the effect of transaction cost of mobile payment technology on financial performance of commercial banks in Kisii Town. The study used a sample of 255 respondents which was drawn from Operation Managers, clients, cashiers and 7 M-Pesa paying agents. The data collected were analyzed by use of descriptive statistics and inferential statistics with the help of Social Sciences version 21 software. The study found out that, perceived cost, perceived access and perceived security of mobile payments technology have a significant influence on the financial performance of commercial banks. The study concluded that the transaction cost of mobile payment is cheap, mobile banking money can be sent any time of day; it saves time of travelling and that mobile banking transactions are processed in accordance with clients’ expectations besides providing evident of payment to another person.
Keywords: Craft, External equity, Financing, Growth, Microenterprise, Tabaka.
Title: Effect of Mobile Banking on Financial Performance of Commercial Banks in Kisii Town, Kenya
Author: Isabellah Mageto, Dr. Willy Mwangi Muturi, Dr. Vitalis Mogwambo Abuga
ISSN 2349-7807
International Journal of Recent Research in Commerce Economics and Management (IJRRCEM)
Paper Publications
The mobile money movement by mpay connect dec 2010 innovations publication ...Menekse Gencer
The genesis of this publication came from a presentation I gave at Columbia University during spring 2010. This publication was written by Menekse Gencer of mPay Connect, a mobile money consulting firm, and will come out in hard copy with MIT Press Innovations Magazine in 2011. To contact the author: http://www.mpayconnect.com/contact
The document discusses the mobile money landscape in Benin. It notes that mobile money has significantly increased financial inclusion in Benin, where mobile penetration is around 87% but banking penetration is only around 10%. Mobile money facilitates around 8 billion CFA francs in deposits and 7 billion CFA francs in withdrawals daily. The goal is to increase use of digital financial services like mobile money to 12% of Benin's adult population by 2019. Currently, mobile network operators generally require partnerships with banks to provide mobile money services, but some operators are seeking direct licenses to become electronic money issuers and distribute payment means independently.
Mobile banking has grown in Nigeria in recent years as banks offer SMS banking, funds transfers, bill payments, and other services via mobile phones. However, the paper identifies several challenges to the operation of mobile banking in Nigeria, including insecure environments, interoperability issues between different mobile devices, unstable power and network infrastructure, and low financial literacy among many Nigerians. The paper proposes that Nigerian banks adopt a "non-bank led model" of mobile banking to make services more transformational and accessible to the unbanked, rather than just adding a new channel for existing customers. Future research is needed to address challenges like security, scalability, and expanding financial inclusion through mobile banking in Nigeria.
RBZ GOVERNORS SPEECH - 2016 - AGENT BANKING AND DIGITAL FINANCIAL SERVICESKingstone Pumula Kanyile
1) The document discusses agent banking and digital financial services in Zimbabwe, noting their potential to increase access to financial services.
2) It outlines Zimbabwe's National Financial Inclusion Strategy to increase access to affordable financial services to 90% of the population by 2020.
3) The Reserve Bank of Zimbabwe regulates digital financial services and agent banking, which have grown significantly in recent years and now include over 3,000 agent banking outlets and 39,000 mobile payment agents.
Mobile payments via SMS and digital wallets have the potential to revolutionize commerce and banking globally. SMS payments can provide banking access to the billions of "unbanked" individuals in developing regions by allowing basic money transfers via text. Digital wallets integrate payment options and purchase history tracking to enable personalized shopping experiences through targeted discounts and recommendations. While technologies like NFC and BLE enable mobile payments at retailers, digital wallets provide the means to capture complete consumer profiles across multiple retailers, generating valuable data and opportunities for smarter payments.
Digital financial services are becoming increasingly important, moving transactions from cash-based to digital. This is bringing convergence between mobile networks and banking services. Regulations need to collaborate across sectors to address this change. Light-touch regulation can encourage innovation while still protecting consumers. Competition regulations must ensure fair access to networks and interoperability to avoid dominance by large players.
This document summarizes a research study on the reality of achieving a cashless society in Rwanda. The study used data from the National Bank of Rwanda from 2012-2013 to analyze trends in electronic payment methods like ATMs, point-of-sale terminals, mobile and internet banking. The analysis showed growth in the numbers of electronic transactions and devices during this period. A correlation analysis also showed a strong relationship between increased numbers of ATMs/POS terminals and higher transaction numbers and values. However, the values of ATM/POS transactions were still relatively low. The study concludes that while Rwanda is making progress towards a cashless society through expanded electronic infrastructure and services, increased investment is still needed along with laws and awareness to
Five Talents has challenged a team to help the Mama Bahati Foundation (MBF) in Tanzania address security risks from transporting cash and assess options to incorporate mobile money. The team researched other Tanzanian MFIs' use of mobile money, evaluated the Musoni platform, and considered alternatives. They found that Musoni could help MBF securely disburse loans and collect repayments, though it may not reduce costs or ensure long-term sustainability on its own. Voluntary savings and loan associations (VSLAs) were identified as a potential complementary approach.
Outline: Tanzanian MFS Landscape: Current Status; Maximizing Opportunities in Tanzania; Mitigating Challenges and Risks in MFS in Tanzania; Pushing MFS to the next level in Tanzania; and Lesson for Africa: Key Take Homes.
Abstract
There has been significant growth and penetration of mobile financial services across the globe especially in
developing countries. The poor are the target customers and beneficiaries of the mobile financial services as it
provides the much needed access which formal financial service providers could not. The dominant paradigm is
the conventional top-down models such as technology adoption model (TAM) and unified theory of acceptance
and use of technology (UTAUT). These theoretical models are mainly based on individual factors such as
perceived ease of use, perceived usefulness, perceived credibility and perceived financial cost to study access,
adoption and usage of mobile financial services. These conventional top-down models are insufficient in
explaining the access, adoption and continued usage of mobile financial services by the poor. The pro-poor
perspective is a bottom up approach that seeks to understand the poor specific issues of pro-poor access,
adoption and continued usage of mobile financial service by the poor. The pro-poor contextual factors influence
the pro-poor access, community factors influence the pro-poor adoption and cultural factors influence the propoor
continued usage of mobile financial services by the poor. We establish gaps in literature in the light of the
pro-poor perspective and proposes an alternative pro-poor conceptual model to better explain the pro-poor
access, adoption and continued usage of mobile financial services among the poor. The proposed model could
unearth the influence of pro-poor factors and their relationships with pro-poor access, adoption and usage of
mobile financial services. Once validated the model could enrich the mobile financial services studies and will be
of valuable use by researchers in the field of mobile financial services among poor.
Keywords: Mobile Financial Services, Adoption, Usage, Technology and Poverty
Amplifying the Impact: Examining the Intersection of Mobile Health and Mobile...Menekse Gencer
This report was written by Menekse Gencer, mPay Connect for The World Economic Forum and The mHealth Alliance. It was published for the Davos Summit January 2011 and is a seminal report that examines the intersections between mHealth and Mobile Financial Services and how they can amplify outcomes through cross-sector efforts.
STATE OF MOBILE BANKING IN TANZANIA AND SECURITY ISSUESIJNSA Journal
Mobile technology offers an unprecedented growth opportunity for banking industry in Tanzania. As the economy continues to prosper, increasingly affluent consumers and underbanked segments create demand for new financial products and services. Many consumers in Tanzania have mobile phones, but not bank accounts. Therefore, the mobile channel presents an effective way to connect them to the national financial grid. For the local banks, going mobile may increase banks opportunities to unlock the inherent potential of underbanked segments. This paper addresses the current state, future prospects, and security challenges to the usage of mobile banking in Tanzania.
This document outlines a survey to examine the impacts of Ghana's e-levy tax on mobile money services and the challenges facing mobile money agents. The survey will focus on agents belonging to the Mobile Money Agents Association of Ghana (MMAAG). It will use questionnaires to collect data from agents on the challenges of the e-levy and how it affects their businesses and the mobile money sector. The purpose is to bring attention to the neglected role of agents in the mobile money industry and provide recommendations to policymakers on supporting this important stakeholder group.
The document discusses how financial technology (FinTech) innovation, a focus on customers, and collaboration across the financial ecosystem can help address the "last mile" challenge of expanding access to financial services. It summarizes several case studies of organizations that have implemented digital financial services with these elements in mind. For example, using mobile phones as the primary delivery channel, understanding and addressing customer pain points to create frictionless services, taking a phased rollout approach, and establishing physical access points. It concludes that while technology enables solutions, addressing customer needs through collaboration is key to achieving last mile access.
The document discusses drivers of inactivity in mobile banking and digital financial services in Côte d'Ivoire. It finds that nearly half of customers have irregular incomes and do not need to consistently use their accounts. Over a quarter are unaware of benefits compared to cash. Over 15% cite costs being too high as mobile money tariffs are higher in Côte d'Ivoire than other African countries. The document recommends reducing costs, making services more relevant with savings/loans, and improving agent distribution and education on benefits.
This document summarizes a study that examined predictors of acceptance of 'Lipa na Mpesa' mobile payments by micro-entrepreneurs in Laikipia East Sub-County, Kenya. The study found that ease of use, perceived usefulness, and attitude towards usage highly influenced micro-entrepreneurs' intention to accept Lipa na Mpesa payments, with an 85% degree of variation. While many micro-entrepreneurs had signed up for the service, only about a quarter were actively using it. The researcher recommends maintaining the easy-to-use technology but further study is needed to understand the low attitude towards use despite initial signup.
This document provides a summary of the state of the mobile financial services industry for the unbanked in 2014. It finds that while mobile money services have expanded significantly in recent years and are transforming access to financial services, continued investment is needed to bring the industry to scale. Specifically, over 250 mobile money services now operate in 89 countries, but regulatory barriers remain and interoperability between services is limited. The report also examines trends in mobile insurance, savings and credit products and calls for further industry collaboration to develop digital financial ecosystems.
The mobile banking and payment revolution1 b37fc319 e15f-46c8-b2f9-c0d4c8327285Sumit Roy
Mobile technology is revolutionizing the global banking and payments industry by providing new conveniences to customers in developed countries and access to the large unbanked population in emerging markets. However, banks face challenges from new entrants that are changing the industry ecosystem. While no single model has been successfully transferred between countries due to regulatory, infrastructure and customer needs differences, firms can learn lessons from current approaches to develop strategies in this growing area of mobile banking and payments.
It is evident that financial services industry has been undergoing a profound transformation in Nigeria. Rapid changes in the banking environment, increased competition by new players from non-banking sector, product innovations, globalization and technological advancement-all these have led to a market situation in which the battle for consumers is intense. We look at the prospect and challenges of mobile banking services in Nigeria using four selected’ banks as case study, reviewed prior literatures on mobile banking, analyze the different factors that impact the market, and give direction for future research on this emerging field. A framework of four contingency and five competitive factors were proposed to facilitate the analysis. Factors affecting mobile services in Nigeria such interoperability, unstable power supply, network problems etc. were identified. Finally, we recommended that non–bank led model of mobile banking be adopted by Nigeria banks to make the services transformational instead of additives as is currently being practiced.
MTN Uganda partnered with Ericsson to migrate its mobile money platform to Ericsson's Wallet Platform in order to address scalability issues, frequent outages, and fraud concerns that were inhibiting growth. This migration enabled MTN Uganda to rapidly expand its mobile money services, growing active accounts from 3.1 million to 4.7 million between 2014-2015 and processing over 44 million transactions per month. In Peru, 32 financial institutions collaborated via a new company called PDP to create an interoperable mobile wallet platform called Bim, bringing financial services to the large unbanked population. In Pakistan, Easypaisa is one of the largest mobile money services worldwide, serving over 21 million active users through 75,000
Mobile money, a development tool for benin powerpointAJAVON Samuel
The document discusses the development of mobile money services in Benin. It notes that mobile money significantly increases financial inclusion in Benin as mobile phone penetration is around 87% compared to only 10% of the population having access to banks. Mobile money facilitates around 8 billion CFA francs in deposits and 7 billion CFA francs in withdrawals daily. The goal is to increase use of digital financial services like mobile money to 12% of Benin's adult population by 2019.
Mobile money, a development tool for benin powerpointAJAVON Samuel
The document discusses the growth of mobile money services in Benin. It notes that mobile money has significantly increased financial inclusion in Benin, where only 10% of the population has access to banks but mobile penetration is around 87%. Mobile money averages deposits of 8 billion CFA francs and withdrawals of 7 billion CFA francs per day, stimulating the local economy. The goal is to increase use of digital financial services like mobile money to 12% of Benin's adult population by 2019. However, the regulatory framework currently requires partnerships between mobile operators and banks that hinders market development, though some mobile operators are starting to seek independent licenses.
Mobile Money Adoption In a Fragile Economy: The Case of a Seven Year Failed E...inventionjournals
A seven year flounder and failed experience of mobile money ignition in Nigeria is worrisome. Ipso-facto, this paper explores the factors that influence mobile money adoption in the Nigerian fragile economy. A survey data generated from 344 experience mobile phone users formed final data base used in this study. Exploratory factor analysis anchored on principle component method and correlation analysis were employed in the methodology. Results reveal that trailability, compatibility, perceived trust, perceived ease of use, perceived usefulness, level of awearness, and relative advantage strongly drives the adoption of mobile money in Nigeria as they exhibit significant positive relationship. No significant relationship was found between perceived financial cost and mobile money adoption in Nigeria. To attract greater adoption and growth of mobile money in achieving cashless economy in Nigeria, these factors should be integrated in the Nigerian mobile money/payment regulatory framework and be made more flexible from its apparent stiff regulation and control
Selected Macroeconomic Factors versus Bond Market Development in Nigeriainventionjournals
This paper examines the macroeconomic determinants of bond market development in Nigeria to address the persistent research question of whether bond market development is driven by macroeconomic factors or institutional factors in emerging markets. Time series data generated over the period of 32 years was analyzed using ordinary least square regression techniques involving multiple regressions. The aggregate bond market capitalization comprising both government bonds and corporate bonds were exploited. The major findings of the study reveals that exchange rate, interest rate, inflation rate and banking sector development have negative and significant influence on the Nigerian bond market capitalization and as such, they demonstrated strong evidence as robust macroeconomic determinants of bond market development in Nigeria. Bond market, development, determinants, economy, Nigeria
This document discusses mobile payments security in Central and South America and its impact on profits, reputation, and customer loyalty. It notes that Brazil, Mexico, and Colombia lead the region in mobile adoption. While smartphones are rising, basic USSD-based services still play an important role for the unbanked. Case studies highlight successful P2P payments in Paraguay, Colombia's DaviPlata digital wallet platform, and growing mPOS usage. However, the document notes security remains a key issue for the financial industry as mobile payments rise in the region.
Implementation of Mobile Banking in Bangladesh: Opportunities and ChallengesIOSR Journals
ABSTRACT:Mobile banking is a newly added service in the banking sector that facilitates banking via mobile devices. With the tremendous growth in mobile phone usage, banks in the developed world have moved to utilize mobile banking, which makes banking easier, faster, and very cost-effective. Mobile phones have quickly emerged as a successful and popular means of communication in recent years and the researchers believe that growth of mobile banking in Bangladesh is inevitable, especially when banks do not have sufficient number of branches in the rural areas of Bangladesh. The purpose of this research is to assess the Opportunities and Challenges of mobile banking in this country. To accomplish this empirical study, multiple banks have been surveyed which either currently have an operational mobile banking in place or planning to introduce one in the near future. The research shows tremendous potential for mobile banking in Bangladesh and reveals some of the key barriers of progress as well. KEYWORDS:Banking Sector, Mobile banking, Mobile Phone, Rural Areas, Telecommunication.
Contribution of mobile money in financial system inclussion to rural and poor...Abdalla Amour
The document discusses the contribution of mobile money to financial inclusion in Tanzania, specifically for rural and poor urban residents. It begins with background on Tanzania's financial system and how it has traditionally excluded many residents. While mobile phones are widespread in Tanzania, financial access is still limited, especially for rural and poor populations. The introduction of mobile money services starting in 2008 has the potential to expand access. However, the document aims to specifically measure the extent to which mobile money has helped include previously excluded groups and what benefits they have gained, such as access to deposits, loans, money transfers and transactions. It outlines the research objectives to analyze the degree of financial inclusion mobile money has provided for rural and poor urban Tanzanians.
The mobile money industry continues to grow with 219 services available across 84 countries by the end of 2013. While mobile money remains concentrated in Sub-Saharan Africa, services have expanded to other regions in recent years. There are now over 60 million active mobile money accounts globally, with 13 services having over 1 million active users each. However, only 29.9% of registered accounts are active on average. Mobile money revenues are significant for some large providers, contributing over 5% of revenues. The development of mobile insurance, credit, and savings can further deepen financial inclusion by offering additional services beyond transfers. A total of 123 such services have launched, with mobile insurance gaining traction through new partnership models.
The mobile money industry continues to grow with 219 services available across 84 countries by the end of 2013. While mobile money remains concentrated in Sub-Saharan Africa, services have expanded to other regions in recent years. There are now over 60 million active mobile money accounts globally, with 13 services having over 1 million active users each. However, only 29.9% of registered accounts are active on average, indicating that many services still face challenges in building scale. Mobile money revenues are significant for some large providers, while ecosystem transactions now represent 29% of total mobile money transaction value. The development of mobile insurance, credit and savings is extending financial inclusion, with 123 such services now live across the globe.
Reference: Mobile payment industry in china 2012-2015 C. Keiko Funahashi
Referenced in presentation, "The Seven Wonders of China's Mobile World"
http://www.slideshare.net/ckeikofunahashi/m-learncon-session-907-ckeikofunahashi
Similar to Factors Impeding Mobile Money Expansion in Zambia (19)
Total Ionization Cross Sections due to Electron Impact of Ammonia from Thresh...Dr. Amarjeet Singh
In the present paper, we have employed modified Khare-BEB method [Atoms, (2019)] to evaluate total ionization cross sections by the electron impact for ammonia in energy range from the ionization threshold to 10 MeV. The theoretical ionization cross sections have been compared to the available previous theoretical and experimental results. The collision parameters dipole matrix squared M_j^2 and CRP also have been calculated. The present calculations were found in remarkable agreement with the available experimental results.
A Case Study on Small Town Big Player – Enjay IT Solutions Ltd., BhiladDr. Amarjeet Singh
Adequately trained Manpower is a problem that affects the IT industry as a whole, but it is particularly acute for Enjay IT Solution. Enjay's location in a semi-urban or rural area makes it even more difficult to find a talented employee with the right skills. As the competition for skilled workers grows, it becomes more difficult to attract and keep those workers who have the requisite training and experience.
Effect of Biopesticide from the Stems of Gossypium Arboreum on Pink Bollworm ...Dr. Amarjeet Singh
Pink bollworm and Lepidoptera development quickly in numbers which is a typical animal group that produces around 100 youthful ones inside certain days or weeks. This assault influences the harvests broadly in the tropical and sub-tropical temperature areas. Thus, to keep up with the yield of harvests the vermin ought to be kept away by utilizing pesticides. The unnecessary measure of the purpose of pesticides influences the dirt, land, and as well as human well-being, and contaminates the climate. Thus, an ozone-accommodating biopesticide is extracted from the stems of the Gossypium arboreum. Thus, the extraction of biopesticide from the stems of Gossypium arboreum demonstrated that the quantity of pink bollworm and Lepidoptera is diminished step by step in the wake of showering the arrangement on the impacted region of the plant because of the presence of the gossypol.
Artificial Intelligence Techniques in E-Commerce: The Possibility of Exploiti...Dr. Amarjeet Singh
This document discusses the potential applications of artificial intelligence techniques in e-commerce in Saudi Arabia. It begins with an introduction to e-commerce and AI, and how AI is being used increasingly in e-commerce applications worldwide. It then reviews literature on how AI can be integrated into e-commerce systems and the various applications of AI in e-commerce. Some key applications discussed include AI assistants, personalized recommendations, demand forecasting, supply chain management, fraud detection and more. The document concludes that Saudi Arabia is well positioned to benefit from using AI to boost its growing e-commerce sector.
Factors Influencing Ownership Pattern and its Impact on Corporate Performance...Dr. Amarjeet Singh
This document summarizes a research study that analyzed the factors influencing ownership patterns of selected Indian companies and the impact of ownership patterns on corporate performance. The study used data from 5 industries over 5 years from 2017 to 2021. Multiple regression, ANOVA, and correlation analyses were conducted. The results found that the percentage of independent directors on the board and the size of the company had a significant impact on Indian promoter holdings. Additionally, non-institutional ownership was found to have a significant impact on corporate performance measures like asset utilization ratio. The study concluded that ownership patterns can influence corporate performance and companies should work to optimize factors like debt-equity ratio and board independence to improve financial outcomes.
An Analytical Study on Ratios Influencing Profitability of Selected Indian Au...Dr. Amarjeet Singh
Every country with a well-developed transportation network has a well-developed economy. The automobile industry is a critical engine of the nation's economic development. The automobile industry has significant backward and forward links with every area of the economy, as well as a strong and progressive multiplier impact. The automotive industry and the auto component industry are both included in the vehicle industry. It includes passenger waggons, light, medium, and heavy commercial vehicles, as well as multi-utility vehicles such as jeeps, three-wheelers, military vehicles, motorcycles, tractors, and auto-components such as engine parts, batteries, drive transmission parts, electrical, suspension and chassis parts, and body and other parts. In the last several years, India's automobile sector has seen incredible growth in sales, production, innovation, and exports. India's car industry has emerged as one of the best in the world, and the auto-ancillary sector is poised to assist the vehicle sector's expansion. Vehicle manufacturers and auto-parts manufacturers account for a significant component of global motorised manufacturing. Vehicle manufacturers from across the world are keeping a close eye on the Indian auto sector in order to assess future demand and establish India as a global manufacturing base. The current research focuses on three automotive behemoths: TATA Motors, MRF, and Mahindra & Mahindra.
A Study on Factors Influencing the Financial Performance Analysis Selected Pr...Dr. Amarjeet Singh
The growth of a country's banking sector has a significant impact on its economic development. The banking sector plays a critical role in determining a country's economic future. A well-planned, structured, efficient, and viable banking system is an essential component of an economy's economic and social infrastructure. In modern society, a strong banking system is required because it meets the financial needs of the modern society. In a country's economy, the banking system plays a crucial role. Because it connects surplus and deficit economic agents, the bank is the most important financial intermediary in the economy. The banking system is regarded as the economy's lifeline. It meets the financial needs of commerce, industry, and agriculture. As a result, the country's development and the banking system are intertwined. They are critical in the mobilisation of savings and the distribution of credit to various sectors of the economy. India's private sector banks play a critical role in the country's economic development. So The financial performance of private sector banks must be evaluated carefully.
An Empirical Analysis of Financial Performance of Selected Oil Exploration an...Dr. Amarjeet Singh
After the United States, China, and Japan, India was the world's fourth biggest consumer of oil and petroleum products. The nation is significantly reliant on crude oil imports, the majority of which come from the Middle East. The Indian oil and gas business is one of the country's six main sectors, with important forward links to the rest of the economy. More than two-thirds of the country's overall primary energy demands are met by the oil and gas industry. The industry has played a key role in placing India on the global map. India is now the world's sixth biggest crude oil user and ninth largest crude oil importer. In addition, the country's portion of the worldwide refining market is growing. India's refining industry is now the world's sixth biggest. With plans for Reliance Petroleum Limited to commission another refinery with a capacity of 29 MTPA next 16 to its 33 MTPA refinery in Jamnagar, Gujarat, this position is projected to be enhanced. As a consequence, the Reliance refinery would be the biggest single-site refinery in the world. Based on secondary data gathered from CMIE, the current research examines the ratios influencing the profitability of selected oil exploration and production businesses in India during a 10-year period.
Since 1991, thanks to economic policy liberalization, the Indian economy has entered an era in which Indian businesses can no longer disregard global markets. Prior to the 1990s, the prices of a variety of commodities, metals, and other assets were carefully regulated. Others, which were not rolled, were primarily dependant on regulated input costs. As a result, there was no uncertainty and, as a result, no price fluctuations. However, in 1991, when the process of deregulation began, the prices of most items were deregulated. It has also resulted in the exchange being partially deregulated, easing trade restrictions, lowering interest rates, and making significant advancements in foreign institutional investors' access to the capital markets, as well as establishing market-based government securities pricing, among other things. Furthermore, portfolio and securities price volatility and instability were influenced by market-determined exchange rates and interest rates. As a result, hedging strategies employing a variety of derivatives were exposed to a variety of risks. The Indian capital market will be examined in this study, with a focus on derivatives.
Theoretical Estimation of CO2 Compression and Transport Costs for an hypothet...Dr. Amarjeet Singh
This document discusses theoretical estimates for the costs of compressing and transporting CO2 from a hypothetical carbon capture and storage project at the Saline Joniche Power Plant in Italy. It first provides background on the power plant project from 2008 that proposed converting the site to coal power. It then details the methodology used to size the compression system, estimating power needs for multi-stage compression up to pipeline pressures. Costs are considered for constructing, operating, and maintaining both the compression plant and pipeline to a potential offshore storage site. The aim is to evaluate retrofitting the existing plant with carbon capture and storage as a way to enable continued coal power production consistent with climate goals.
Analytical Mechanics of Magnetic Particles Suspended in Magnetorheological FluidDr. Amarjeet Singh
In this paper, the behavior of MR particles has been systematically investigated within the scope of analytical mechanics. . A magnetorheological fluid belongs to a class of smart materials. In magnetorheological fluids, the motion of magnetic particles is controlled by the action of internal and external forces. This paper presents analytical mechanics for the interaction of system of particles in MR fluid. In this paper, basic principles of Analytical Mechanics are utilized for the construction of equations.
Techno-Economic Aspects of Solid Food Wastes into Bio-ManureDr. Amarjeet Singh
Solid waste is health hazard and cause damage to the environment due to improper handling. Solid waste comprises of Industrial Waste (IW), Hazardous Waste (HW), Municipal Solid Waste (MSW), Electronic waste (E-waste), Bio-Medical Waste (BMW) which depend on their supply & characteristics. Food waste or Bio-waste composting and its role in sustainable development is explained in food waste is a growing area of concern with many costs to our community in terms of waste collection, disposal and greenhouse gases. When rotting food ends up in landfill it turns into methane, a greenhouse gas that is particularly damaging to the environment. Composting is biochemical process in which organic materials are biologically degraded, resulting in the production of organic by products and energy in the form of heat. Heat is trapped within the composting mass, leading to the phenomenon of self-heating. This overall process provide us Bio-Manure.
Crypto-Currencies: Can Investors Rely on them as Investment Avenue?Dr. Amarjeet Singh
The purpose of this study is to examine investors’ perceptions about investing in crypto-currencies. We think that investors trust in crypto-currencies is largely driven by crypto-currency comprehension, trust in government, and transaction speed. This is the first study to examine crypto-currencies from the investor’s perspective. Following that, we discover important antecedents of crypto-currency confidence. Second, we look at the government's role in crypto-currencies. The importance of this study is: first, crypto-currencies have the potential to disrupt the current economic system as the debate is all about impact of decentralization of transactions; thus, further research into how it affects investors trust is essential; and second, access to crypto-currencies. Finally, if Fin-Tech companies or banks want to enter the bitcoin industry may not attract huge advertising costs as well as marketing to soothe clients' concerns about investing in various digital currencies The research sheds light on indecisiveness in the context of marketing aspects adopted by demonstrating investors are aware about the crypto.
Awareness of Disaster Risk Reduction (DRR) among Student of the Catanduanes S...Dr. Amarjeet Singh
The Island Province of Catanduanes is prone to all types of natural hazards that includes torrential and heavy rains, strong winds and surge, flooding and landslide or slope failures as a result of its geographical location and topography. RA 10121 mandates local DRRM bodies to “encourage community, specifically the youth, participation in disaster risk reduction and management activities, such as organizing quick response groups, particularly in identified disaster-prone areas, as well as the inclusion of disaster risk reduction and management programs as part of youth programs and projects. The study aims to determine the awareness to disaster of the student of the Catanduanes State University. The disaster-based questionnaire was prepared and distributed among 636 students selected randomly from different Colleges and Laboratory Schools in the University
The Catanduanes State University students understood some disaster-related concepts and ideas, but uncertain on issues on preparedness, adaptation, and awareness on the risks inflicted by these natural hazards. Low perception on disaster risks are evidently observed among students. The responses of the students could be based on the efficiency and impact of the integration of DRR education in the senior high school curriculum. Specifically, integration of the concepts about the hazards, hazard maps, disaster preparedness, awareness, mitigation, prevention, adaptation, and resiliency in the science curriculum possibly affect the knowledge and understanding of students on DRR. Preparedness drills and other forms of capacity building must be done to improve awareness of the student towards DRRM.
The study further recommends that teachers and instructor must also be capacitated in handling disaster as they are the prime movers in the implementation of the DRRM in education. Preparedness drills and other forms of capacity building must be done to improve awareness of the student towards DRRM. Core subjects in Earth Sciences must be reinforced with geologic hazards. Learning competencies must also be focused on hazard identification and mapping, and coping with different geologic disaster.
The 1857 war was a watershed moment in the history of the Indian subcontinent. The battle has sparked academic debate among historians and sociologists all around the world. Despite the fact that it has been more than 150 years, this battle continues to pique the interest of historians. The war's causes and events that occurred throughout the conflict, persons who backed the British and anti-British fighters, and the results and ramifications, are all aspects of this conflict. In terms of outcomes, many academics believe that the war was a failure for those who started it. It is often assumed that the Indians who battled the British in this conflict were unable to achieve their goals. Many gains accrued to Indians as a result of the conflict, but these achievements are overshadowed by the dispute over the war's failure. This research effort focuses on the war's achievements for India, and the significance of those achievements.
Haryana's Honour Killings: A Social and Legal Point of ViewDr. Amarjeet Singh
Life is unpredictably unpredictable. Nobody knows what will happen in the next minute of their lives. In this circumstance, every human being has the right and desire to conduct their lives according to their own desires. No one should be forced to live a life solely for the benefit and reputation of others. Honour killing is defined as the assassination of a person, whether male or female, who refuses to accept the family's arranged marriage or decides to move her or his marital life according to her or his wishes solely because it jeopardizes the family's honour. The family's supreme authority looks after the family's name but neglects to consider the love and affection shared among family members. I have discussed honour killing in India in my research work. This sort of murder occurs as a result of particular triggers, which are also examined in relation to the role of the law in honour killing. No one can be released free if they break the law, and in this case, it is a felony that violates various regulations designed to safeguard citizens. This crime is similar to many others, but it is distinct enough to be differentiated in the report. When the husband is of low social standing, it lowers the position and caste of the female family, prompting the male family members to murder the girl. But they forget that the girl is their kid and that while rank may be attained, a girl's life can never be replaced, and that caste is less valuable than the girl's life and love spent with them.
Optimization of Digital-Based MSME E-Commerce: Challenges and Opportunities i...Dr. Amarjeet Singh
This document summarizes a research article about optimizing digital-based MSME e-commerce during the COVID-19 pandemic. The article discusses how the pandemic severely impacted MSMEs, with many going out of business. However, digitalization and e-commerce provide opportunities for MSMEs to transform their business models. The article reviews literature showing how technologies like websites, social media, and mobile applications can help MSMEs reach more customers online. Case studies of MSMEs in different countries found that those utilizing digital tools through e-commerce were more successful compared to those relying only on offline sales. The article concludes digitalization is both a challenge and opportunity for MSMEs to adapt their traditional business models and survive or grow
Modal Space Controller for Hydraulically Driven Six Degree of Freedom Paralle...Dr. Amarjeet Singh
This paper presents the Modal space decoupled control for a hydraulically driven parallel mechanism has been presented. The approach is based on singular values decomposition to the properties of joint-space inverse mass matrix, and mapping of the control and feedback variables from the joint space to the decoupling modal space. The method transformed highly coupled six-input six-output dynamics into six independent single-input single-output (SISO) 1 DOF hydraulically driven mechanical systems. The novelty in this method is that the signals including control errors, control outputs and pressure feedbacks are transformed into decoupled modal space and also the proportional gains and dynamic pressure feedback are tuned in modal space. The results indicate that the conventional controller can only attenuate the resonance peaks of the lower eigenfrequencies of six rigid modes properly, and the peaking points of other relative higher eigenfrequencies are over damped, The further results show that it is very effective to design and tune the system in modal space and that the bandwidth increased substantially except surge (x) and sway (y) motions, each degree of freedom can be almost tuned independently and their bandwidths can be increased near to the undamped eigenfrequencies.
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Factors Impeding Mobile Money Expansion in Zambia
1. International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962
Volume-11, Issue-1 (February 2021)
www.ijemr.net https://doi.org/10.31033/ijemr.11.1.24
178 This Work is under Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Factors Impeding Mobile Money Expansion in Zambia
Natalie Chipa1
and Bupe Getrude Mwanza2
1
Student, Graduate School of Business, University of Zambia, ZAMBIA
2
Senior Lecturer, Graduate School of Business, University of Zambia, ZAMBIA
1
Corresponding Author: nataliechipa@gmail.com
ABSTRACT
The majority of the world population is not covered
by the mainstream financial sector. As such, mobile money
services are seen as a cost effective and efficient way of
increasing financial inclusion. However, there remains some
factors that impede the development of mobile money
services. Therefore, this study sought to analyse these factors
with a view to identifying strategies that can be used to
accelerate the development of mobile money services.
Keywords— Barriers, Mobile Money Services, Strategies,
Zambia
I. INTRODUCTION
The mobile phone is emerging as a key tool to
overcome financial exclusion and bring financial services
to the unbanked and under banked populations. According
to the GSMA 2013 survey, the number of mobile-money
accounts is greater than the number of bank accounts in
nine African countries, namely; Cameroon, DRC, Gabon,
Kenya, Madagascar, Tanzania, Uganda, Zambia and
Zimbabwe. The compelling need to serve the poor,
particularly in sub-Saharan Africa has driven a lot of
mobile phone financial services innovation. Currently all
three mobile network operators (MNOs) in Zambia namely
Airtel, Mobile Telephone Network (MTN) and Zambia
Telecommunications Company Limited (ZAMTEL) are
offering mobile money services. Other non-telecom
operators include Kazang, SpeedPay, Zoona and Mukuru.
Non-Financial Institutions were not active
participants in the financial sector prior to the revolution of
mobile money [1]. However, the sector is contributing to
financial inclusion through the mobile money service.
“Most consumers were not able to own bank accounts,
especially in the rural areas, but this service has come as
an alternative to a bank account” [2].
In Zambia, Malawi, and Mozambique, an average
of 23% of the population holds a mobile money account,
compared to 73% of the population in Kenya [3].
Compared to its regional peers, M-Pesa in Kenya accounts
for over 70% of the mobile money platform; Airtel Zambia
accounts for less than half of the mobile money platform in
Zambia [4]. Despite the investments being made there has
been no significant expansion of its mobile money market
share [4]. Based on the 2018 IFC Report, only 7% of
registered users and 20% of the registered agent outlets
were fully active. [5] stated that Airtel Money’s liquidity
problem leaves consumers with no option than that of
paying an additional fee to guarantee them am option of
cashing out elsewhere which is more expensive, however
if liquidity problems within the mobile money ecosystem
were addressed this would be a different case. Research
from Consultative Group to Assist the Poor found that for
many agents, the cost of liquidity management was the
greatest operational cost. Furthermore other researchers
did recommend that there was need to investigate the
factors that delay the expansion of mobile money services
[6].
II. LITERATURE REVIEW
The last two decades have been characterized by a
rapid expansion of mobile money services around the
world. In the developed world, the development of mobile
money services has been aided by rapid technological
advancements [7]. East Asia & Pacific had the highest
number of mobile money services among all continents in
2019 according to the GSMA Mobile Money Metrics
report 2019 edition which explored the number of live
mobile money services in the world. In Africa, especially
sub-Saharan Africa, the development of mobile money
services has been aided by the crusade towards greater
financial inclusion. Mobile money services in Africa have
been growing rapidly since the turn of the last decade.
These services have been central to increasing access to
financial services for the majority of people who are not
served by the traditional banking system. Since the rolling
out of M-PESA in 2007 in Kenya, many other African
countries, including Zambia, have embraced mobile
money technologies. Although the actual services offered
by mobile money providers varies slightly from one
country to another, this reveal has shown that the main
services offered include money transfers, cash-outs, bill
payments, and mobile saving wallets. In countries such as
Kenya and Tanzania, the penetration of mobile money
services is very high since they were one of the first
movers in the mobile money services. For other settings
2. International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962
Volume-11, Issue-1 (February 2021)
www.ijemr.net https://doi.org/10.31033/ijemr.11.1.24
179 This Work is under Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
such as Zimbabwe, the growth of mobile money services
has been driven by the country’s economic woes which
have made access to traditional financial services more
problematic.
The development of the mobile money sector has
been a center piece of the country’s National Financial
Inclusion Strategy in Zambia [8]. The country has over 12
million mobile phone subscribers. These are spread
between three MNOs: MTN Zambia with 44% of the
market share, Airtel with 40% of the market share, and
Zamtel with about 16% of the total market share [9].
All of the three MNOs have mobile money
service. The two leading MNOs also dominate the mobile
money market with Airtel Money which was first piloted
in 2011 and MTN Money (MoMo) services rolled out in
2012[9]. Since the launch of Airtel money and MTN
Money, other mobile money providers have entered to
compete away the mobile money market cake.
There is a large body of literature on the factors
that impede the growth of mobile money services. The
following factors were identified from various empirical
contexts: income [6,10,11], bank account ownership
[9,11,13]; age[14,15], education [10,16], sex[10,15],
employment status [10,17], ease of use [6,13], perceived
risk and trust [18,19] and awareness of services and
benefits [17,20]. The review on factors delaying growth of
mobile money from other literatures indicated that this
subject is broader than what meets the eye. Both the
customer and service providers contributed to the delay in
growth. The service provider was expected to provide
knowledge of product and services to existing, new and
potential customers. Without this knowledge usage would
not increase. Benefits were also meant to be stipulated for
users in order to encourage usage which would contribute
to growth. Secondly, the consumer played a pivotal role as
well. If consumer had low income they would use less
channels to transact as income was limited so they would
avoid excess transactional costs and stick to one channel
which was usually the bank which was most common.
Consumers’ employment status also determined the
growth of mobile money. Individuals who were
unemployed opted to handle cash as they would avoid
incurring transactional costs. Economic agents with no
bank account were less likely to utilize mobile money
services. This was expected; given that there was an
increasing number of collaborations between mobile
money providers and the traditional banking system. The
review also revealed that older people were less likely to
utilize mobile money services than the younger
compatriots. In addition, the review highlighted that
although on average men were more likely to utilize
mobile money services, the use of these services differed
significantly between the two sexes. For example, females
were more likely to utilize mobile money services to send
and receive money from relatives and friends, men were
more likely to utilize mobile money services for business
purposes.
As expected, economic agents who were
employed were more likely to utilize mobile money
services than those were are not employed. This was partly
due to the fact that this economic class had more
disposable income with which to engage in mobile money
services. Furthermore, people who are more educated were
more likely to utilize mobile money services because they
were more likely to be informed about the usefulness of
mobile money services. Indeed, it was found that lack of
awareness of mobile money services was one of the main
constraints impeding the growth of mobile money services.
The review also found that lack of trust, perceived risks
involved in mobile money transactions, and the lack of
ease of use of mobile money services were the other
constraints that impeded the growth of the global and
regional mobile money industry. Therefore, this study
went on to seek to understand whether the above
constraints were important within the Zambian mobile
money industry.
The literature was also rich with strategies that
could be used to drive mobile money expansion. A sample
of key strategies were analysed. These included float
management [21, 22] customer loyalty [21, 23]; a strong
social and agent network [21, 22], simplification of the
registration process [6, 20, 24]; effective regulation [20],
and mobile money fees [20, 23]
Theories that had been advanced to explain the
factors that impede the growth of business, including
mobile money agents were reviewed. The theoretical
framework highlighted three of these theories. These were;
The economic theory: The economic theory stated
that the demand and supply of financial innovations
were the results of market players trying to overcome
limitations such as transaction costs, information
asymmetries, and other forms of market frictions in
addition to the profit motives of the shareholders. The
economic theory was mainly anchored on the demand-
supply framework. Based on this framework, a
number of demand- and supply-side factors that
impeded the expansion of mobile money services
could be identified [25]. From the review of empirical
evidence number of demand-side factors were
identified. These included: gender inequalities, age,
employment status, lack of awareness of mobile
money services, and lack of trust and perceived risk
associated with the use of mobile money services.
Supply-side constraints included inadequate float,
high transaction costs, complex registration
procedures, and ineffective regulation.
The theory of firm growth, this theory was an attempt
to assess how firms’ growth overtime as well as
3. International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962
Volume-11, Issue-1 (February 2021)
www.ijemr.net https://doi.org/10.31033/ijemr.11.1.24
180 This Work is under Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
identify some of the constraints that might hinder this
growth. A number of internal and external constraints
that may adversely affect the growth of firms. [25]
Among the internal factors, the theory identified firm
size, innovative capacity, and managerial resources.
External factors that were identified included:
regulation of the financial and economic systems,
market conditions, culture, legal constraints, and
policy constraints such as corruption, excessive
bureaucracy and unfavorable tax environments. These
factors had a negative effect on a firm’s ability to
growth. In addition, a firm’s ignorance of these factors
implied that they would not put in place measures to
circumvent these constraints, and hence may lead to a
loss of the firm’s competitive advantage.
The political theory of entrepreneurship. The theory
argued that in order for firms to grow and succeed the
government must play an active role. In particular, it
must create an enabling business environment for
firms to thrive. This enabling environment is
contingent on the presence of good political and legal
systems. These systems must ensure efficient and
effective tax systems, adequate infrastructure,
streamlined business registration and regulation
procedure, corruption-free systems and flexible import
and export procedures. The absence of the systems is
associated with the slow growth of business firms.
III. METHODOLOGY
The study adopted a mixed methods approach,
which utilized both qualitative and quantitative research
approaches. The study randomly sampled 100 mobile
money agents and conveniently sampled six mobile money
service managers. The agents were administered a
specially designed questionnaire and an interview for the
manaes. The data collection tools mainly captured
quantitative data. The tool for the latter group also
included open-ended questions to capture qualitative data.
Both probability and non-probability sampling
techniques were used. For managers convenience
sampling-managers was used as it allowed members of the
population to be chosen based on how accessible they
were. Secondly, this strategy was particularly instrumental
given the potential busy work schedules of managers
Simple random sampling was used for agents in order to
give all agents a known chance of being included in the
sample, numbers were picked from a plastic which were
used to identify booths to be used.
The study area used was Lusaka. This selection
was based on the following statistics provided by mobile
money agent location in the IFC Report; 63% of mobile
money agents were in Lusaka with breakdown as follows;
36% agent locations were in urban areas in Lusaka, 27%
were in non-urban areas and 37% in rural areas [26].
The sample size for agents used was derived from
the sample size formulae by Yamane. Six managers were
chosen based on Territorial sales managers, sales and
distribution managers who had firsthand information-
supported by Creswell as well.
IV. RESULTS AND DISCUSSION
The results were presented in two different
subsets-one showing results from agents and the second
part for managers. The study had two subsamples: one for
mobile money agents and another for managers. With
respect to the former, the actual sample size was 100 and
represented a response rate of 100%.
Background characteristics of agents
Demographics Frequency and valid percentage
Gender
Male 46 (46%)
Female 54 (24%)
Age
Younger than 18 years 3(3%)
18-35 years 78(78%)
Older than 35 years 19(19%)
Highest Educational Qualification
None 1(1%)
Primary 17 (17%)
Secondary 64 (64%)
Tertiary 18 (18%)
Income level
Below K1000 12 (12%)
K1000-K2000 44 (44%)
Above K2000 44 (44%)
Bank Account Ownership
Yes 56 (56%)
No 44 (44%)
How often do you personally use mobile money
Daily 0
Weekly 27 (27%)
Monthly 48 (48%)
Rarely 25 (25%)
Of these agents, 46% were male while 54% were
female. With respect to age, the majority of the mobile
money agents were aged 18-35 years. In addition, 19%
were older than 35 years while only 3% were younger than
18 years. In terms of their highest level of education,
almost a third of them had secondary education, 18% had
tertiary education, and 17% had primary education while
only one person representing 1% of the sample had
received no formal education. An equal percentage of
respondents, 44% had a monthly income of either between
K1, 000-K2, 000 or above K2, 000. The rest of the
respondents, 12%, had an income of less than K1, 000.
The majority of the sampled agents 56% owned a bank
4. International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962
Volume-11, Issue-1 (February 2021)
www.ijemr.net https://doi.org/10.31033/ijemr.11.1.24
181 This Work is under Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
account. In terms of their personal, non-business use of
mobile money services, 27% utilized these services
weekly, 48% utilized them monthly while 25% never
utilized them.
The analysis also sought to highlight the level of
knowledge of mobile money services. A number of
dimensions of knowledgeability were assessed which
included advertising, cost and awareness.
Demographics Yes(%) No(%0
Will billboards, radio and TV adverts
help with increasing knowledge of
mobile money?
100 0
Does the agents’ location contribute
to fraud risks or theft when using the
service?
95 5
Do your customers know the benefits
of using mobile money?
36 64
Is it expensive to use mobile money 89 11
Is the mobile money platform secure? 82 18
Do customers easily give up when
trying to register them for mobile
money?
13 87
Dies one’s education qualification
matter when using mobile money
0 100
All agents agreed that billboards, radio and
television (TV) increased the knowledge of mobile money
services. The response was unanimous – all respondents
were of the view that the three media increased knowledge
of mobile money services. Agents’ location contributed to
fraud risks or thefts when using mobile money services.
The majority of the respondents (95%, N = 95) agreed that
location was directly related to fraud or theft risks. The
majority of the respondents (64%, N=64) responded that
customers did not know the benefits of using mobile
money. About 89% (N=89) of the respondents were of the
view that using mobile money services was expensive.
However, 82% (N=82) of the respondents opined that
mobile money platforms were secure. In addition, just over
a tenth (13%, N=13) of the respondents were of the view
that customers easily give up when using mobile money
services. Lastly, all the respondents were of the view that
the level of education was not an important factor in the
usage of mobile money services.
The most cited challenge was the lack of ease of
use of mobile money services. In particular, 89% (N = 89)
agreed that the lack of ease of use of mobile money
services was the most important factor that impeded the
growth of mobile money services. The second most cited
barrier was the high cost of using mobile money services;
cited by 56% (N=56) of the mobile money agents. Other
barriers, none of which were cited in the majority were:
perceived distrust, perceived risks, and the lack of
knowledge or awareness of mobile money services.
Agents’ views on factors impeding mobile money
expansion were analysed. The five-point likert scale was
used to assess the following: the affordability of mobile
money services, awareness or knowledge of mobile money
Perceived trust or lack thereof of mobile money services is
another possible challenge; lack of ease of use of mobile
money services, perceived risks involved is another
potential barrier to the development of mobile money
services. The five point likert scale is considered an
interval scale with a very significant mean. 1 to 1.8 means
strongly disagree, 1.81 to 2.60 means disagree, 2.61 to
3.40 means neutral-neither agree or disagree, 3.41 to 4.20
means agree and 4.21 to 5 means strongly agree.
5. International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962
Volume-11, Issue-1 (February 2021)
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182 This Work is under Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Mean Std.
Deviation
It is difficult to register for mobile
money services
1.96 0.491
Mobile money services are for
people who do not have bank
accounts
2.43 1.009
The cost of using mobile money
services is affordable
2.01 0.859
Most customers are aware about
mobile money services
2.38 0.972
Information on mobile money is
readily available
2.13 1.06
Mobile money services provide one
of the most reliable, efficient and
effective systems
2.52 1.059
Service delivery in mobile money
services is efficient and reliable
2.4 0.964
The security features of using mobile
money services are trustworthy
2.51 0.785
Mobile money services locations are
safe
2.46 0.858
The level of customers income
contributes to the usage of mobile
money
2.7 1.068
Agents can be trusted to guide users
on how to use mobile money
2.75 0.947
Customers find it easy to use mobile
money services
2.79 1.057
Customers do not use mobile money
when they don’t know about it
3.57 0.935
Knowledge of mobile money makes
it easy to use
3.65 1.019
Knowledge of mobile money helps
with avoiding risks
3.61 0.803
The study assessed the affordability of mobile
money services. The mean and standard deviation on the
five-point Likert scale were 2.01 and 0.86, respectively.
This implied that the mobile money agents largely
disagreed with the statement. This finding is in line with an
earlier finding that the high cost of mobile money services
is a key barrier to the utilization of mobile money services.
Lack of awareness or knowledge of mobile money services
was identified as another factor that impedes the growth of
mobile money services; although not in the majority.
Mobile money agents were asked to give their view on the
extent to which they thought “most customers are aware
about mobile money services and its capabilities”, the
mobile money agents disagreed with the assertion and
further noted that mobile money services would not be
utilized if they were not aware of it. This is in line with an
earlier view that awareness or knowledge of mobile money
services was not an important barrier. The mean score on
the Likert scale was 2.38 while standard deviation was
0.97. This further validates the fact that the majority of the
respondents did not agree with the statement.
Perceived trust or lack thereof of mobile money
services is another possible challenge; although not
reported by the majority of respondents in this study. In the
study the agents disagreed that “mobile money services
provided one of the most reliable, efficient and effective
systems for financial transactions”. In addition, they
disagreed to the assertion that “service delivery in the use
of mobile money services is efficient, effective and
reliable”. This is validated by a mean Likert scale score of
2.52 and a standard deviation of 1.06. These findings were
in line with an earlier finding that perceived distrust was
not an important barrier to the expansion of mobile money
services.
The study found that the lack of ease of use of
mobile money services is a key factor that impedes the
growth of mobile money services. The study found that a
meagre 2% (N=2) of respondents agreed or strongly
agreed with the assertion that it was difficult to register for
mobile money services (Table 7). As expected, only 29%
of the respondents either agreed or strongly agreed with
the assertion that “customers find it easy to use mobile
money services”. This again highlights the fact that lack of
ease of use of mobile money services was a key barrier to
the utilization and subsequent growth of mobile money
services. This was largely due to the lack of knowledge of
mobile money services which delays the uptake of these
services. Indeed, more than two-thirds (70%, N=70) of
respondents agreed or strongly agreed with the assertion
that increased knowledge of mobile money services would
increase the ease of use of these services. However, when
summarized using the Likert scale mean and standard
deviation, the conclusion was that the majority of the
mobile money agents were neutral to the statement (mean
= 2.79, standard deviation = 1.06).
6. International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962
Volume-11, Issue-1 (February 2021)
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The perceived risks involved is another potential
barrier to the development of mobile money services.
Indeed, only 13% (N=13) of the respondents agreed or
strongly agreed that the security features for mobile money
platforms are trustworthy (Table 8). Indeed, more than
two-thirds (70%, N=70) at least agreed that knowledge of
mobile money services helps in reducing perceived risks.
In addition, these perceived risks were exacerbated by the
fact that only 14% (N=14) of the respondents agreed or
strongly agreed that “mobile money services locations are
safe”. The Likert scale mean and standard deviation of
2.46 and 0.86, respectively, also validates this finding.
The second subsample consisted of six mobile
money managers; five (83%) of which were male while
only one (17%, N=1) was female. Two-thirds (67%, N=4)
of the sampled managers were aged 35 years and older
while a third (33%, N=2) were aged 18-35 years. None of
them were younger than 18 years. All the respondents had
tertiary education. In term of monthly income, two-thirds
(67%, N=4) earned between K10, 000 and K30, 000 while
an extra third earned above K30, 000. All of them owned a
bank account. In terms of personal mobile money
utilization, 17% (N=1) utilized mobile money services
weekly, half of them (50%, N=3) monthly and about a
third (33%, N=2) rarely utilized these services.
A Likert scale was also used to assess the
strategies that can be used to drive mobile money
expansion. The strategies were identified from the
managers’ subsample.
Having identified the factors that impede the
development of mobile money services, the analysis
focused on identifying the strategies that drive mobile
money expansion. These strategies were identified using
data collection instruments developed for the six (6)
sampled mobile money managers. The majority of the
respondents agreed or strongly agreed that providing
adequate float/liquidity (mean = 5.00; standard deviation =
0.00), effective regulations (mean = 5.00; standard
deviation = 0.00), increasing trade place accessibility
(mean = 4.50; standard deviation = 0.55), and minimizing
mobile money system outages (mean = 4.83; standard
deviation = 0.41) were the main strategies that can be used
to accelerate the development of mobile money services:
However, simplifying the registration process and
developing strong agent networks were not important
strategies that can be used to drive mobile money
expansion.
Mean Std.Dev
Adequate float/liquidity 5 0
Effective regulations 5 0
Place/accesibility 4.5 0.548
System uptime/downtime 4.83 0.408
Customer loyalty 4.17 0.408
Price/lower mobile money fees 4 1.095
Strong social agent networks 3 0.632
Simpler registration process 2.83 0.753
The analysis also delved into looking into
examining managers’ views barriers to mobile money
utilisation. The analysis began by explicitly looking at the
reasons for delay in the expansion of mobile money
services (from the viewpoint of mobile money agents). The
managers were each asked to rank the five challenges
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according the most important (rank 1) to the least
important (rank 5). The figure below summarises the
percentage of respondents who ranked each of the five
constraints as the two most important constraints. It is
clear that lack of knowledge or awareness of mobile
money services was the most important; followed by high
cost of services then perceived trust . None of the
managers regarded the ease of use of mobile money
services as a significant barrier to the growth of the mobile
money sector as they believed it was attributed to lack of
knowledge and awareness.
In addition to the closed-ended questions that were
included in the managers’ questionnaire also included
open-ended questions which were used to identify
aditional strategies that can be used to prop up the
development of mobile money services. The responses
were identified using thematic analysis. These strategies
are summarised below.
The study found that increasing awareness and
knowledge of mobile money services is one way to
increase the uptake of mobile money services. Awareness
could be increased through various ways like advertising
and inclusion of telecommunications and mobile money in
the education curriculum as banking and ecommerce were
included. Adverts would be in the form of billboards,
flyers, door to door, television advertising, outdoor media
and other forms to ensure all classes of people are covered.
In schools-pupils learnt about banking under money but
mobile money service is not part of any syllabus. It was
important that this was included in pupils syllabus so they
are aware of transacting through mobile money from
inception.
The study also found that encouraging mobile
money services among bank account holders would
increase the growth of mobile money services. This
strategy was informed by the observation that the uptake of
mobile money services is higher among users without bank
accounts; who are not covered by the formal financial
system. People who had bank accounts did not think it was
necessary to use mobile money as the accounts did
everything.Individuals in formal employment also
preferred to only get paid using their bank account yet this
could be done using mobile money. The
telecommunication company had started splitting salaries
by sending part of it to the bank and the other part to the
staffs mobile account and this was highly appreciated by
staff. Given the perceived lack of trust of mobile money
services, there is need to build trust between mobile money
service providers and users. It was difficult for consumers
to trust agents as they had no consistent reporting time and
were not available on a daily basis. When agent was sick it
would mean the booth would be closed which contributed
to lack of trust as there was no continuity in the business.
There was need for aggregators and mobile money service
providers to include this in contracts to ensure continuity
and strict opening time as other agents based in brick and
motar agencies. The study also found that mitigating
against operational and fraud risks was likely to increase
the adoption and growth of mobile money services.
V. CONCLUSION AND
RECOMMENDATION
The majority of the global population is not
covered by the formal financial system, dominated by
commercial banks, micro financial institutions and other
deposit-taking institutions. In many countries, especially in
the developing world, mobile money services are seen as a
cost effective and efficient way of increasing financial
inclusion. However, the literature shows that there are still
a number of barriers that impede the development of
mobile money services. These include: low incomes, low
educational levels, gender disparities, and the lack of ease
of use and knowledge of mobile money services.
In order to increase the uptake and growth the
mobile money sector, there is need to make it easy for
mobile money agents to meet their daily liquidity needs,
train mobile money agents in good customer relations,
reduce the red-take regarding the registration of mobile
money service providers and users, and reduce mobile
money transaction fees.
Based on the key findings of the study, a number of policy
recommendations can be made. If adopted, these
recommendations can accelerate the growth of the mobile
money sector in Zambia. These are highlighted below:
There is need to make it easy for mobile money
agents to acquire float to meet day-to-day
transactions. This can be done by increasing the
number of super agents (who trade float). There is
also need to increase the platforms that can be
used for agents to acquire float or liquidity.
There is need to constantly train mobile money
agents in customer relations. Good customer
relations are critical to promoting customer
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loyalty, and hence the long-term sustainability
and growth of the mobile money sector.
There is need to remove some red-tape relating to
the registration of mobile money service
providers and users. For example, improving
coordination between business registration
authorities will lead to the minimization of time
wastage due to the duplication of efforts. This
will lead to effective regulation.
There is need to revise mobile money transaction
fee schedules to increase the utilization of mobile
money services. While this may sound
counterintuitive, reducing transaction fees my
lead to a more than proportional increase in
transaction volumes; leading to an increase in
mobile money revenues.
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