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Designing pro-poor mobile financial services: Learning from the financial diaries of urban poor in India

Raman Saxena and Ravi Mokashi Punekar

World Development Perspectives, 2020, vol. 20, issue C

Abstract: Considering Technology Acceptance Model (TAM) as a reference, this paper presents the findings of a User-Centered research study that enquires into the socio-economic factors for low acceptance of mobile financial services among the urban economically weaker segment of users in India. Following a User-centered qualitative based approach using Financial Diary, fifty respondents in Noida city, Uttar Pradesh, and NCR region participated in the study, completing financial diaries by self-recording their daily financial cash flows over eight weeks duration. This study investigate the link between the day-to-day financial needs and transactions, mobile payment service features and usefulness from the urban economocally weaker population context. Drawing insights from patterns of financial transactions, preoccupations, and expectations that meet respondents’ financial needs, the paper identifies product features that are desirable for inclusion in the digital financial services for their higher acceptance among this user segment. It suggests the need for a User-centered approach in studies of this nature.

Keywords: Urban poor; Financial diaries; Financial needs; Mobile payments; UCD and TAM; Adoption and Acceptance; Pro-poor; Perceived Usefulness; Creditworthiness; Mobile Financial Services (MFS); India (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1016/j.wdp.2020.100266

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