scholarly journals Mobile financial services, financial inclusion, and development: A systematic review of academic literature

2018 ◽  
Vol 84 (5) ◽  
pp. e12044 ◽  
Author(s):  
Minjin Kim ◽  
Hanah Zoo ◽  
Heejin Lee ◽  
Juhee Kang
Keyword(s):  
Systematic Review ◽  
Financial Services ◽  
Financial Inclusion ◽  
Academic Literature ◽  
Mobile Financial Services

Mobile Financial Services

2020 ◽  
pp. 96-119
Author(s):  
Alexander Maina Kimari ◽  
Eric Blanco Niyitunga
Keyword(s):  
Financial Services ◽  
Developing World ◽  
Service Providers ◽  
Customer Experience ◽  
Financial Service ◽  
Financial Inclusion ◽  
The Poor ◽  
Financial Exclusion ◽  
Mobile Financial Services

The chapter explores financial exclusion, its causes, and consequences in society. The chapter found that the existing discrepancy in financial inclusion between the developed and developing world is driven by financial exclusion that makes it difficult for financial service providers to expand outreach to the poor at affordable prices. The chapter aims to investigate the role of mobile financial service design and development in dealing with financial exclusion. It was found that mobile financial services are promoting financial inclusion in various markets. However, few studies have been undertaken on the benefits of mobile financial services in dealing with the high rates of financial exclusion. The chapter recommended that to achieve financial inclusion, there is need for mobile financial services providers to take into account customer experience through the ease of using the phone interface. The chapter concluded that there is need for scholars in the fields of finance and economics to conduct research in the areas of mobile financial services and their role in society.

An Analysis of Mobile Financial Services and Financial Inclusion in Bangladesh

2020 ◽  
Vol 14 (2) ◽  
pp. 213-233
Author(s):  
Nahid Akhter ◽  
M. A. Baqui Khalily
Keyword(s):  
Financial Services ◽  
Urban Areas ◽  
Household Head ◽  
Financial Inclusion ◽  
Agriculture Sector ◽  
Male Household Head ◽  
Poor Households ◽  
Institutional Structures ◽  
Mobile Financial Services ◽  
Household Heads

In a short span of time, starting in 2011, mobile financial services (MFSs) have burgeoned in Bangladesh, and elsewhere in the developing world. MFSs have brought about major changes in financial products and institutional structures in the financial services market. The study of Bangladesh’s experience with MFS shows that financial inclusion has greatly improved along with efficiency of provision. This article shows that the probability of using MFSs by a household increases by about 43 per cent if the households have temporary domestic migrant members. Female household heads are less likely to use MFS compared to male household head. Out of 1,588 micro merchants in the sample, around 30 per cent have access to MFSs. Individuals engaged in the non-agriculture sector, those from households with the head having higher education, those from non-poor households and those from urban areas have higher probabilities of MFS use. But more research must be done to design appropriate MFS products for the poor, so that they too can also leverage the benefits of MFSs.

Mobile Security in Low-Income Households' Businesses

2019 ◽  
pp. 576-595
Author(s):  
Bibi Zaheenah Chummun
Keyword(s):  
Low Income ◽  
Financial Services ◽  
Industrial Revolution ◽  
Financial Inclusion ◽  
Services Sector ◽  
Security Breaches ◽  
Fourth Industrial Revolution ◽  
Security Challenges ◽  
Mobile Financial Services ◽  
Low Income Households

A wide range of technologies impinges on all disciplines including financial services in this era of the Fourth Industrial Revolution. The deployment and security of mobile phones have considerably increased financial services access such as mobile money to the low-income households in developing African markets recently. The financial services that were once randomly accessible to those financially excluded have now become a potential pathway to enhance financial inclusion in allowing the low-income households to transact through mobile financial services in a more speedy, reliable, and secure manner. However, many security challenges remain to be addressed to promote a more inclusive mobile financial system. This chapter focuses on mobile devices security landscape and unprecedented security breaches by cyber criminals and how those threats can be mitigated in a view to promote financial inclusion in the mobile financial services sector of emerging African markets in the midst of the Fourth Industrial Revolution.

scholarly journals M-PESA and Financial Inclusion in Kenya: Of Paying Comes Saving?

2019 ◽  
Vol 11 (3) ◽  
pp. 568 ◽  
Author(s):  
Leo Hove ◽  
Antoine Dubus
Keyword(s):  
Qualitative Research ◽  
Financial Services ◽  
Final Stage ◽  
Probit Analysis ◽  
Demographic Characteristics ◽  
Financial Inclusion ◽  
Early Stages ◽  
Sim Card ◽  
Mobile Financial Services ◽  
Do So

Mobile financial services such as M-PESA in Kenya are said to promote inclusion. Yet only 7.6 per cent of the Kenyans in the 2013 Financial Inclusion Insights dataset have ever used an M-PESA account to save for a future purchase. This paper uses a novel, three-step probit analysis to identify the socio-demographic characteristics of, successively, respondents who do not have access to a SIM card, have access to a SIM but do not have an M-PESA account, and, finally, have an account but do not save on it. We find that those who are excluded in the early stages are predominantly poor, non-educated, and female. For the final stage, we find that those who are in a position to save on their phone—the phone owners, the better educated—are less likely to do so. These results go against the traditional optimistic discourse on mobile savings as a prime path to financial inclusion. As such, our findings corroborate qualitative research that indicates that Kenyans have other needs, and want their money to circulate and ‘work’.

scholarly journals Demographics as Moderator Between Perceived Easy of Use, Individual Awareness and Adoption of Mobile Financial Services

2021 ◽  
Vol 16 (12) ◽  
pp. 53
Author(s):  
Wilberforce Witts ◽  
Severine Kessy
Keyword(s):  
Data Analysis ◽  
Financial Services ◽  
Moderating Effect ◽  
Ease Of Use ◽  
Financial Inclusion ◽  
Unified Theory ◽  
Perceived Ease Of Use ◽  
Use Of Technology ◽  
Mobile Financial Services ◽  
The Relationship

The number of mobile financial services users is keeping increasing in Tanzania. Despite such an increase, few individuals actively use mobile financial services. The adoption of these services may be contributed by either the different features of mobile financial services or demographics orientation. The current study used Unified Theory of Acceptance and Use of Technology and AMOS-SEM for data analysis. The findings revealed that the antecedents of mobile financial services, namely individual awareness and perceived ease of use significantly influence individual mobile financial services adoption. Demographics orientation was also found to have moderating effect on the relationship between individual awareness and perceived ease of use, and individual mobile financial services adoption. The paper makes a contribution in the theory used and contributes knowledge to the Tanzania national second financial inclusion policy 2018-2022 by considering demographics variables in analyzing different issues.

Mobile Security in Low-Income Households' Businesses

2019 ◽  
pp. 683-702
Author(s):  
Bibi Zaheenah Chummun
Keyword(s):  
Low Income ◽  
Financial Services ◽  
Industrial Revolution ◽  
Financial Inclusion ◽  
Services Sector ◽  
Security Breaches ◽  
Fourth Industrial Revolution ◽  
Security Challenges ◽  
Mobile Financial Services ◽  
Low Income Households

A wide range of technologies impinges on all disciplines including financial services in this era of the Fourth Industrial Revolution. The deployment and security of mobile phones have considerably increased financial services access such as mobile money to the low-income households in developing African markets recently. The financial services that were once randomly accessible to those financially excluded have now become a potential pathway to enhance financial inclusion in allowing the low-income households to transact through mobile financial services in a more speedy, reliable, and secure manner. However, many security challenges remain to be addressed to promote a more inclusive mobile financial system. This chapter focuses on mobile devices security landscape and unprecedented security breaches by cyber criminals and how those threats can be mitigated in a view to promote financial inclusion in the mobile financial services sector of emerging African markets in the midst of the Fourth Industrial Revolution.

Digital Financial Inclusion in India

2019 ◽  
pp. 195-203 ◽  
Author(s):  
Gaurav Agrawal ◽  
Pooja Jain
Keyword(s):  
Financial Services ◽  
Financial Inclusion ◽  
Mobile Banking ◽  
Banking Services ◽  
Secondary Sources ◽  
Intention To Adopt ◽  
Banking Activity ◽  
Standards Of Living ◽  
Mobile Financial Services ◽  
Technology Intervention

Financial inclusion is a multidimensional approach. With technology intervention in financial inclusion, electronic banking activity in rural India leads to increased use of financial services and better living standards. In the rising market, many people using mobile phones still are not able to access banking products and financial services. This indicates a huge untouched market for commercial banks. In India, mobile banking services are still in the early stages of development. Thus, the main objective of the chapter is to understand the factors that would act as drivers towards the adoption of mobile financial services and understand people's intention to adopt and use of mobile banking services which lead to increases accessibility towards financial products among rural people as well improve standards of living and overall development of the nation. The study focuses on utilizing secondary sources which is related to financial inclusion to understand the new banking technology and identifies people's behavior towards adoption and uses of banking services.

Mobile Money Landscape in the 12 SADC Countries using FinScope Survey Data

GIS Business ◽  
2017 ◽  
Vol 12 (3) ◽  
pp. 25-32
Author(s):  
Kingstone Mutsonziwa
Keyword(s):  
Mobile Applications ◽  
Financial Services ◽  
Financial Inclusion ◽  
Poor People ◽  
Main Stream ◽  
Mobile Money ◽  
The World Bank ◽  
Mobile Financial Services ◽  
Money Transfer ◽  
Game Changer

There is no doubt that mobile money is bringing the under-served and the excluded population into the main stream financial services corridors. Based on the FinScope surveys, mobile money is becoming one of the enablers of financial inclusion. In an increasing number of developing countries, a number of poor people are using basic mobile phones to transfer money, paying for goods and accessing some basic financial services. According to the World Bank, mobile financial services are amongst the most promising mobile applications in the developing world. Although FinScope results show that mobile money usage is relatively low (23%) in the SADC region, the trend of usage is coming up fast. FinScope results show that close to 7 in 10 mobile money users are using it as a remittances/money transfer vehicle while 54% for buying airtime. It is encouraging that about 7 million adults (24% of mobile money) store value or save money in their mobile money accounts. Some barriers to mobile money relate to: affordability, perceived cost of mobile money, lack of understanding of mobile money/lack of awareness and no access to cell phones. Besides these barriers, mobile money is becoming a game changer for the landscape of financial inclusion in the SADC region.

scholarly journals Examination of the Status of Financial Inclusion and Its Determinants in Tanzania

2018 ◽  
Vol 10 (8) ◽  
pp. 2873 ◽  
Author(s):  
Josephat Lotto
Keyword(s):  
Gender Gap ◽  
Financial Services ◽  
Banking Sector ◽  
Telecommunication Network ◽  
Financial Education ◽  
Financial Inclusion ◽  
Financial Access ◽  
Banking Services ◽  
Level Of Education ◽  
Mobile Financial Services

The primary motive of this paper is to examine the determinants of financial inclusion in Tanzania. The paper borrows data from a household survey conducted by TWAWEZA. Employing the probit regression, the findings of this paper reveal that gender, education, age and income are the pertinent factors which affect the financial inclusion in Tanzania. The paper further shows the following: First, if you are a man, financially stable, have a good education and are relatively older, you then stand better chances of being financially included. The results show that, as the level of education increases, the individual is more likely to be financially included. The possible reason for this observation may be clearly linked with the financial ability of educated individuals to afford holding bank accounts and presenting personal guarantees when required by the banks during loan application because the level of education goes parallel with the income level. In addition, the results confirm a gender gap in formal financial inclusion, and this may be due to the factors such as inability of women to show collateral, their poor financial education awareness and lower business experience. Second, the paper also shows that the factors which affect traditional banking services are the same as those affecting mobile banking services (gender, age, income and education), and that there is a negative trend and a clear departure of customers’ usage from banking retail services to mobile financial services. Although this gap has been narrowed recently, the best option with the banking sector is to create more new delivery channels while using mobile financial services as an infrastructure to deepen financial access reaching more un-banked population. The paper, therefore, recommends banks to create more delivery channels while using mobile telecommunication network as an infrastructure to deepen financial access reaching more unbanked people rather than competing with mobile network operators. The findings of this paper may also be used as a wake-up call for policy makers to put more emphasis on women and young people who are often left behind during Government’s effort toward reaching the entire population as far as financial inclusion is concerned.

scholarly journals Mobile financial services and financial inclusion: Is it a boon for savings mobilization?

2017 ◽  
Vol 7 (1) ◽  
pp. 29-35 ◽  
Author(s):  
Shem Alfred Ouma ◽  
Teresa Maureen Odongo ◽  
Maureen Were
Keyword(s):  
Financial Services ◽  
Financial Inclusion ◽  
Mobile Financial Services
Sign in / Sign up

Export Citation Format

Share Document