The adoption of "Transformational Mobile Banking" by the Unbanked: An Exploratory Field Study

Peter Tobbin
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Peter Tobbin: Ghana Institute of Management and Public Administration (GIMPA)

Communications & Strategies, 2012, vol. 1, issue 86, 103-120

Abstract: Whereas the number of people using mobile phones grows tremendously across the developing world, the number of people having a bank account is still very low. A recent report shows that over half the population of the world is unbanked, a majority of which are rural dwellers in the developing world. The primary aim of this exploratory study is to examine whether or not m-banking services can be transformational. During the study, an extensive review of the literature on the unbanked and the adoption of m-banking services was conducted. This was followed by a focus group discussion which was conducted among the unbanked rural dwellers in Ghana. The current study concludes that the transformational potential of m-banking could be realised if beyond access, the other barriers to having a bank account, which include affordability, trust, convenience and documentation are addressed effectively in its deployment.

Keywords: unbanked; m-banking services; mobile money; TAM; adoption; consumer behavior (search for similar items in EconPapers)
JEL-codes: O16 O3 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (1)

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