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Customer perception of adoption and use of digital financial services and mobile money services in Uganda

Author

Listed:
  • Tapiwanashe James Museba
  • Edmore Ranganai
  • Gianfranco Gianfrate

Abstract

Purpose - This paper aims to investigate the impact of fintech, mobile money and digital financial services in Uganda and factors impacting adoption of the services. The study will also determine their social impact through financial inclusion in the Ugandan market. Design/methodology/approach - This study covers the adoption and use of fintech, mobile money and digital financial services in Uganda. A case study approach was used through a survey questionnaire for 400 randomly selected participants within the Kampala region. Questionnaire was designed to measure customer perception of digital financial services and adoption including mobile money and agency banking. Findings - The adoption of mobile money services is driven by mobile devices penetration and the need for access to financial products and services for the unbanked. Results support CGAP (2013) that observed that mobile money adoption was based on two key variables: social network and social interactions of the customer and a segment of customers who can be described as mobile technology leaders (early adopters). There has been positive impact on person to person transfers, grocery payments and mobile money providers have to continue to simplify the access to financial services and bring convenience to the bottom of the pyramid. And mobile money positively impacts sustainable developmental goals covering Gender Equality (SDG5), SDG 8 – Decent Work and Economic Growth; expanding financial inclusion through mobile money and SDG 10 – Reduce Inequalities. Research limitations/implications - This study has limitations commonly prevalent with qualitative research, including the small size limited to Kampala and challenges of making generalisations beyond this context. Practical implications - The paper might serve as a valuable source of information for government and fintech companies in developing the digital financial services ecosystem as well as for students and academics for further case studies in this area. Originality/value - This paper serves as one of the first qualitative research papers concerning mobile money and digital financial services adoption, solely focused on Uganda. Its value is in its showcasing of the importance of mobile money among customers in emerging markets.

Suggested Citation

  • Tapiwanashe James Museba & Edmore Ranganai & Gianfranco Gianfrate, 2021. "Customer perception of adoption and use of digital financial services and mobile money services in Uganda," Journal of Enterprising Communities: People and Places in the Global Economy, Emerald Group Publishing Limited, vol. 15(2), pages 177-203, February.
    • Handle: RePEc:eme:jecpps:jec-07-2020-0127
    DOI: 10.1108/JEC-07-2020-0127
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    Citations

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    Cited by:

    1. Kojo Kakra Twum & John Paul Basewe Kosiba & Robert Ebo Hinson & Antoinette Yaa Benewaa Gabrah & Ebenezer Nyarko Assabil, 2023. "Determining mobile money service customer satisfaction and continuance usage through service quality," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 28(1), pages 30-42, March.
    2. Mkombo, Alfred Lameck & Wahua, Lawrence, 2024. "Review of Behavioural Intention to use Mobile Financial Services," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(1), pages 1520-1538, January.
    3. Weidong Huo & Wang Xiohui & Muhammad Zulfiqar & Ahmed Chand & Muhammad Rizwan Ullah, 2024. "Communication dynamics: Fintech’s role in promoting sustainable cashless transactions," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-15, December.

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