Examining Consumer Mobile Money Usage Behaviour in Ghana

Mobile money as a driver of digital financial inclusion

Meeting the mobile money needs of the less privileged in developing and emerging markets opens up enormous possibilities for banks and newly emerged financial-technology firms. Many consider mobile money services a separate domain within the banking and payment sector, different from its siblings: automated teller machines, net banking, point-of-sale banking, etc. This study was conducted to investigate how mobile money services act as a reliable driver of digital financial inclusion and to determine the role of mobile money agents in the transformation from the traditional services to mobile money services. This paper presents a conceptual model based on the stimulus-organism-response para…

Drivers and outcomes of consumer engagement : Insights from mobile money usage in Ghana

Purpose The purpose of this paper is to examine the drivers of consumer engagement and its consequences via the experiences of mobile money services’ users in Ghana and to discuss its implications for the society, financial service innovation, delivery and operations. Design/methodology/approach A pre-tested survey instrument was used with a sample of 595 mobile money services users in Ghana. SmartPLS application was used to analyze the data and report findings. Findings The study shows that perceived risk, consumer empowerment, subjective norm, performance expectancy and effort expectancy influence the affect component of consumer engagement and explain around half of its variance. The ef…

How is the use of mobile money services transforming lives in Ghana?

Mobile money (MM) is considered a revolutionary phenomenon in the developing world and relies on basic mobile handsets capable of voice and SMS or text. This chapter assesses the potential of mobile phones as a delivery mechanism for financial services in Ghana. Based on the sample of 595 responses collected during the months of September and October, 2016, we investigated various consequences that influence the consumer decision-making process and continuous usage within the mainstream MM or micro-financial services. In total, six hypotheses were developed and tested. The results provided support for all the hypotheses. The key takeaway from this chapter is that MM service agent credibilit…

Customers' Perceived Risk and Trust in Using Mobile Money Services—an Empirical Study of Ghana

Although mobile money (MM) has been explored in the existing literature, the roles of trust and risk in MM use have received little attention from researchers. Furthermore, many of the existing studies have treated these constructs as unidimensional. The extant literature also shows that perceived risk has received little attention from researchers who have conducted studies on MM. Thus, the objective of this study is to examine the roles of trust and perceived risk in customers' intent to adopt MM services in Ghana. Both trust and perceived risk were broken down into various dimensions. The study involved 671 respondents who were selected via an intercept approach and an online survey. Str…