The adoption of mobile money technology in emerging markets: a contingency analysis from Ghana

Frederick Kwesi Blay and Livingstone Divine Caesar ()
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Frederick Kwesi Blay: Bank of Ghana, Risk Management Department
Livingstone Divine Caesar: Texas A&M University at Galveston

SN Business & Economics, 2022, vol. 2, issue 9, 1-26

Abstract: Abstract Mobile money (MM) technology is now a key payment system driving growth and financial inclusion in emerging markets. There is, however, limited knowledge on how certain factors might impact its adoption. Consequently, this paper examines how the availability of MM agents might positively impact adoption rates among users. It further explores the contingency role of cost (C), perceived ease of use (PEOU), perceived usefulness (PU) and perceived trust (PT) in the hypothesised relationships. Using a positivistic research approach, a sample of 500 urban and peri-urban MM users were surveyed. Availability of MM agents and public knowledge were positively related to adoption behaviour. PU had a significant negative moderation effect on the relationship between availability of MM agents and adoption. Availability of MM agents play a critical role in influencing MM adoption behaviours among patrons. Consequently, Mobile Network Operators (MNOs) could improve MM adoption rates through a well-knit and extensive agent network strategy. It is also imperative that service quality is improved through an interoperability strategy, where mainstream traditional banking services could be fused into the MM platform. Customer loyalty programs are also needed to further deepen the degree of trust between MNOs and MM patrons.

Date: 2022
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DOI: 10.1007/s43546-022-00308-0

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