Unearthing antecedents to financial inclusion through FinTech innovations

This paper seeks to examine the motivating factors that propel people to use mobile money in the Greater Accra Region (GAR) of Ghana. The authors posit that the behaviour of a person, in terms of the choice and means of transaction, cannot be explained solely by utility-maximizing assumptions or rationality. Thus, other socio-cultural and psychological factors are crucial in determining whether a person will use mobile money.,This study uses a cross-sectional design to obtain primary data on 733 households from the GAR of Ghana to determine the drivers of mobile money use. Given the binary nature of the dependent variable, a logit model and its marginal effects are estimated. Furthermore, parametric and non-parametric statistical tests are used to examine gender effect and mobile money use.,The study finds that technology savvy cohorts (youthful age cohorts), available services such as phone credit recharge, education and income are among the key determinants of mobile money use in Ghana. Furthermore, parametric and non-parametric tests of mobile money use on gender show a statistically significant difference in gender use of mobile money, albeit, marginal. The findings imply that consistent use of mobile money to access social and economic services can go a long way in promoting financial inclusion, financial empowerment and general wellbeing of people.,Households in developing countries especially Ghana have rapidly embraced mobile money technology. However, what determines the household level of adoption, to the best of our knowledge, is unknown and yet to be tested. This study bridges that gap in the empirical literature as well as contributes to policy decisions.,The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-05-2020-0271

Mobile money as a financial inclusion instrument: what are the determinants?

This paper investigates the relationship among digital financial literacy (DFL), current saving behavior, current spending behavior, and foresight of future spending and saving behavior among Indon...

Digital financial literacy, current behavior of saving and spending and its future foresight

Do digital payment transactions reduce corruption? Evidence from developing countries

The objective of this study is to examine the impact of mobile money (m-money) adoption on some household outcomes such as farm output, welfare (consumption expenditure), and wealth (value of asset...

https://journals.sagepub.com/doi/pdf/10.1177/2158244020931114

Mobile Money, Output and Welfare Among Smallholder Farmers in Ghana:

The purpose of this paper is to investigate how the use of the mobile money technology among students affects their spending behaviour.,The study reports interesting findings by using a random sample of 506 students from the University of Ghana and applying ordinary least squares regression technique.,The findings suggest that active use of mobile money services has significant influence on students spending behaviour. On a monthly basis, students who use mobile money spend on the average 20 Ghana Cedis more than their colleagues who do not use mobile money. Students who use both mobile money and ATMs jointly spend nearly 13 Ghana Cedis more than their counterparts who use either of them.,The implication of this finding is that mobile money technology which provides easy access to money can increase spending behaviour of students and reduce the tendency of savings. The authors therefore conclude that although technological growth should not be curtailed given the numerous benefits technology accrues to society, its use must be controlled, in particular, when it comes to using it as a medium of exchange so as to minimize the negative influences (such as indiscriminate spending).,This paper studies the post-adoption behavioural responses of mobile money users particularly among students in Africa which is rare in the literature.

Georgina Maku Cobla

Papers

Mobile money adoption and spending behaviour: the case of students in Ghana