The bou has only approved mobile money operations when this is done in partnership with a supervised financial institution sfi. Ghana, august 2015, thesis for the degree of master of business administration. A focus on the impact and usage year 20 pages 44 mobile money transfer services emerged in kenya sometime in the past decade but in 2007 with safaricoms mpesa service and mkesho in 2010. The objective of this study was to determine the effect of mobile banking on the financial performance of commercial banks in kenya the study applied descriptive research design. Effects of mobile money services on financial development. The study sought to compare the extension and impact of the service as against the successful implementation of kenya. Effective risk management underlies sustainable commercial growth because it protects two key commercial assets. Mobile money, individuals payments, remittances, and. Fraudsters are innovative and always looking for new ways to avoid detection. Research report making sense of mobile money in urban ghana. Since almost half of tanzanians own a mobile phone through which they can save money and handle financial transactions without needing a bank account, to what extent has the mbanking system covered the financial inclusion in tanzania.
The impact of mobile financial services in low and lower. Pdf factors influencing the uptake of mobile money. As mobile money and other electronic payment solutions become more readily available. Many banks do not find it economically attractive to. Mobile money is a relatively new technology, which was. And these mobile banking products were found to have increased the revenue of unguka ltd in the last three years. This study was guided by the following specific objectives. Promoting payment digitisation in ghana via mobile money. Mobile banking is a financial service often available in developed countries, but not in most.
The overall objective of the study was to determine factors affecting adoption of mobile banking technology in kenya. In a typical mobile money system, agents purchase efloat from the mobile money operator by delivering physical cash to the operator. E money refers to payments made using prepaid cards, debit and credit cards, loyalty. The impact of mobile financial services in low and lowermiddleincome countries erwin a. The main objective of the study is to examine the determinants of mobile banking adoption as a communication in the banking industry with specific emphasis on the access bank ghana limited. Mobile money, the remaining 50 merchants, who are current users of mtn mobile. The purpose of this study was to determine the relationship between financial inclusion and mobile money in ghana.
Factors affecting the adoptio of mobile banking in new zealand. Mobile money offerings resultant from tying a consumers mobile to their bank account. The emergence of new mfs, including bulk payments, insurance, mobile savings and credit, prepaid cards, and crossborder and international money transfer services. Over the last 10 years, availability of mobile phones has increased. As thesis research advisors, we here by certify that we have read and evaluated this thesis entitled the contribution of mobile money transfer in marketing. The impact of mobile money services on the growth of micro, small and medium enterprises in nkasi district council by israel njabu tumaini a dissertation submitted to the faculty of social science in partial fulfilment. The impact of saving with mobile money transfer technology on. In other words, will an insecure mobile phone necessarily mean a. Mobile enabled persontoperson payments, or mobile money transfer services mmt, are experiencing rapid adoption in many markets, in response to steady growth in remittances, the worldwide ubiquity of cell phones, and the need for an electronic p2p payment alternative to paperbased mechanisms like cash and checks. The study concludes that the banking alternative quality and the awareness of the mobile money transfer services influences the adoption of mobile money services to a great extent. Mm helps the business recover money from customers much faster. Mobile money operators typically leverage an agent network to. The technology acceptance model, diffusion of innovation and the toe framework. Frauding such a system can be lucrative and will always draw the attention of criminals.
This paper studied the use of mobile money transfer service in ghana. Since the launch of mtn mobile money in uganda in march 2009, the. This paper seeks to identify factors affecting the adoption of mobile money for payments in ghana, exploit avenues to promote the payment aspect of mobile money and how to integrate mobile money payment solutions into businesses. To establish the relationship between perceived usefulness pu and adoption of mobile banking technology in. Masters thesis mobile money security a holistic approach eric kodjo afanu raymond selorm mamattah 20 master 120 credits. Factors that were studied include the perceived ease of use of mobile money services, the usefulness of the mobile money services and the intention to continue using services.
This paper is part of a more extensive research, a doctoral dissertation, prepared by e. The target population included six mobile phone service providers who provide mobile phone services and 43 commercial banks operating in kenya as at december 2012. Background these guidelines address mobile money issues. Impact of mobile banking on financial performance of unguka. It sought to quantitatively test the widespread notion that mobile money in most cases leads to financial inclusion.
A qualitative analysis of college student use of mobile phones for family communication thesis presented to the graduate council of texas state universitysan marcos in partial fulfillment of the requirements for the degree master of arts by john alderson, b. With mobile money service seeing increasing growth in terms of agents, customers, transactions and currently with four mobile network operators in the mobile money industry, the study documents the effects mobile money services exert on the depth of ghanas financial sector development and also the currency in circulation. Survey, 150 mobile money systems in 72 countries have been deployed, and another 109 projects are in planning phases penicaud 20. Thus, by storing value in their mobile money account, people are insured against theft and unneeded expenditures because of the withdrawal and transfer fees which encourage them to cash out or transfer money 3only when the need arises. Mobile payments is a new technological mantra not only for researchers, innovators, company executives, but also for every household across the globe. The mobile money cash transfer basically refers to the money transfer system that allow individuals to send and receives mobile some small amount of money to. Department of finance and accounting, school of business, university of nairobi, kenya. Brief protecting consumers, providers, and the system. Mobile money transfer in ghana master thesis institutional. A mobile money agent is the main interface between the customers and the mobile money service provider. Determinants of mobile banking adoption in the ghanaian. Study of mobile phone usage among the teenagers and youth in mumbai by m a c r o. Factors influencing the uptake of mobile money service in tanzania. This service is therefore only available to people who possess a formal bank account.
Money that is easier to use within the sociocultural. The paper focuses on innovative mobile phones money and banking options in four african countries kenya, nigeria tanzania an d uganda. Impact of mobile banking on financial performance of. Mobile money services have been deployed in developing countries as a means of extending financial services to the unbanked, but more robust research is needed on the direct link between the use of mobile money services and easier access to finiancial services. Then, when customers wish to cashin, they give the agent physical cash, and the agent in turn transfers a corresponding amount. This paper focuses specifically on kenya, a country that is often considered to be home to the worlds most developed mobile money system. Are these mobile subscribers use the money transfer system in accessing financial services. The thesis is the backbone for all the other arguments in your essay, so it has to cover them all. Although a significant portion of the study s participants have stopped using mtn.
The impact of saving with mobile money transfer technology on the livelihoods of rural wageearning women. Citation and commencement these guidelines may be cited as the bank of uganda mobile money guidelines, 20 and shall come into force on october 1, 20. This study seeks to undertake an assessment of the impact of mobile money by studying airtel money in malawi as a case study. Managing the risk of fraud in mobile money 12 executive summary risk management is a key component to the commercial success of any business.
Mobile money services design and development for financial. Mobile payments are facilitated through one of these services, mobile money, which allows any individual to register for a mobile wallet, through which they can store and send money on even a basic, inexpensive phone. The net generation of digital financial inclusion t here are multiple paths by which greater mobile internet access and smartphone adoption can impact digital financial inclusion, particularly mobile money and mobile financial services. The rest of this chapter gives details about background and motivation, problem statement and outline. Money, provided the researcher with demographic statistics about their businesses and. Informal sector gdp contribution, link to formal sector, contribution to job generation vastly unknown in africa. The effect of mobile money on the financial performance of. Regulatory impact on mobile money and financial inclusion. This thesis will examine the adoption, usage and outcomes of a mobile. Mobile money is an important tool for poverty reduction because it offers a means of addressing the impasse that exists between banks and poor households. According to oxford english dictionary one of the earliest uses of word mobile was in association with the latin phrase mobile vulgus, i. Regulatory impact on mobile money and financial inclusion in.
This system is called mpesa, a combination of mobile and. The impact of saving with mobile money transfer technology. Effects of mobile banking on the financial performance of. Pdf factors influencing the uptake of mobile money service. True to the statement, mobile payments are in the verge of taking a giant leap towards a cashless society. The study also concludes that there is a significant relationship between financial reporting and the adoption of mobile money services to a great extent. The thesis the battles of bleeding kansas directly affected the civil war, and the south was fighting primarily to protect the institution of slavery doesnt work very well, because the arguments are disjointed and focused on different ideas. The impact of mobile money on financial inclusion in lesotho. The objective of this study was to establish factors influencing adoption of mobile money services among institutions of higher learning. During the last few years, the use of mpayments as a new payment channel has resulted in an increase in the volume of.
The research reported in this thesis, except where otherwise indicated, is my original research under the supervision of professor imraan valodia and cosupervision of kathleen diga. Mobile money services a bank in your pocket an overview of trends and opportunities 7 their accounts and to perform transfers and payments. Examining the adoption, usage and outcomes of mobile money. Pdf factors influencing the uptake of mobile money service in. Very little is known with respect to the service in ghana. Mobile money transfer international remittance service providers. Mobile money services started in kenya in 2007 through mpesa m for. A thesis submitted to the faculty of the university of delaware in partial.
The findings showed that some factors pertaining to trust, usefulness and risk drive the usage of mobile banking in new zealand. International development research centre, ottawa, canada, and the department for international development, uk. A focus on the impact and usage otieno linah degree programme in business management bachelors thesis may, 20. The agent is selected by the mobile money service provider. Security information and events management systems can be a solution to this problem. Mobile money guidelines, 20 communications for all. A case of kilosa, morogoro, tanzania, in partialfulfilment of requirements for award of the degree of master of. The research was a case study of mobile money security in ghana and used qualitative and. This study aimed at analyzing the effectiveness of mtn mobile money services in. Then, when customers wish to cashin, they give the agent physical cash, and the agent in turn transfers a corresponding amount of efloat from their account to the customers account. Pdf the study seeks to assess the impact of mobile money. Mobile money transfer international remittance service. Mobile money service providers mmsp are required to hold, in an escrow account in their partner sfi, the equivalent of all the mobile money that has been issued to their customers and agents. Pdf security challenges of mobile money transfer services.
Perceived risk was identified as a major inhibitor in the adoption of mobile banking amongst the users. Mobile based money transfer services are promised to a large success in the future. Through a case study focusing on rural women in the agricultural kenyan context, the research explores whether the savings mechanism offered by mobile money transfer technologies is being utilised. A recent survey revealed that there are 20 countries in which more than 10% of adults used mobile money at some point in 2011, of which 15 are in africa. Study of mobile phone usage among the teenagers and youth in. Mobile money has emerged as a strong competition to. Factors that were studied include the perceived ease of use of mobile money services, the usefulness of the mobile. The use of mobile money for transactions has been steadily growing across africa, positioned as the next big thing to revolutionize the cash dominant economy of africa. Mobile money mpayments are increasingly being adopted by organisations as a new way of doing business in the 21st century.