Provider and Consumer Perceptions on Mobile Money and Microfinance Integrations in Ghana: A Financial Inclusion Approach

Judith Aboagye; Sophia Anong

doi:doi:10.11648/j.ijber.20200904.24

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Provider and Consumer Perceptions on Mobile Money and Microfinance Integrations in Ghana: A Financial Inclusion Approach

Judith Aboagye, Sophia Anong

Published in International Journal of Business and Economics Research (Volume 9, Issue 4)

Received: 27 February 2020 Accepted: 29 April 2020 Published: 19 August 2020

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Abstract

This study examines the use and impact of mobile money and microfinance services in Ghana. It explores the perspectives of mobile money and microfinance service providers and consumers to identify the nature and extent of use, and their separate and complementary impact on financial inclusion. Qualitative data collected through interviews with service providers, agents, and consumer focus groups were used to draw parallels and contrasts between provider and consumer perceptions on impacts and challenges of the systems. The study addressed four specific objectives identified as provider perceptions on mobile money and microfinance integrations and financial inclusion; consumer perceptions on mobile money and microfinance integrations and financial inclusion; impacts of mobile money and microfinance integrations on the financial inclusion ecosystem; and challenges of mobile money and microfinance integrations for financial inclusion in Ghana. The results showed that provider perceptions primarily focus on consumer access, product range, convenience, and regulatory climate. Consumer perceptions also focus on network capacity, fraud and security, and complex user designs. The impacts of mobile money integrations appear to be additive for most users but also transformative for users who were previously excluded from the formal financial sector. However, there are eminent challenges related to system failures, fraud and security concerns, and consumer protection to be addressed to help facilitate the efficiency and sustainability of the mobile money ecosystem.

Published in	International Journal of Business and Economics Research (Volume 9, Issue 4) This article belongs to the Special Issue Microfinance and Local Development
DOI	10.11648/j.ijber.20200904.24
Page(s)	270-281
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2020. Published by Science Publishing Group

Keywords

Mobile Money, Microfinance, Consumers, Service Providers, Financial Inclusion

References

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APA Style

Judith Aboagye, Sophia Anong. (2020). Provider and Consumer Perceptions on Mobile Money and Microfinance Integrations in Ghana: A Financial Inclusion Approach. International Journal of Business and Economics Research, 9(4), 270-281. https://doi.org/10.11648/j.ijber.20200904.24

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Judith Aboagye; Sophia Anong. Provider and Consumer Perceptions on Mobile Money and Microfinance Integrations in Ghana: A Financial Inclusion Approach. Int. J. Bus. Econ. Res. 2020, 9(4), 270-281. doi: 10.11648/j.ijber.20200904.24

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AMA Style

Judith Aboagye, Sophia Anong. Provider and Consumer Perceptions on Mobile Money and Microfinance Integrations in Ghana: A Financial Inclusion Approach. Int J Bus Econ Res. 2020;9(4):270-281. doi: 10.11648/j.ijber.20200904.24

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@article{10.11648/j.ijber.20200904.24,
  author = {Judith Aboagye and Sophia Anong},
  title = {Provider and Consumer Perceptions on Mobile Money and Microfinance Integrations in Ghana: A Financial Inclusion Approach},
  journal = {International Journal of Business and Economics Research},
  volume = {9},
  number = {4},
  pages = {270-281},
  doi = {10.11648/j.ijber.20200904.24},
  url = {https://doi.org/10.11648/j.ijber.20200904.24},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20200904.24},
  abstract = {This study examines the use and impact of mobile money and microfinance services in Ghana. It explores the perspectives of mobile money and microfinance service providers and consumers to identify the nature and extent of use, and their separate and complementary impact on financial inclusion. Qualitative data collected through interviews with service providers, agents, and consumer focus groups were used to draw parallels and contrasts between provider and consumer perceptions on impacts and challenges of the systems. The study addressed four specific objectives identified as provider perceptions on mobile money and microfinance integrations and financial inclusion; consumer perceptions on mobile money and microfinance integrations and financial inclusion; impacts of mobile money and microfinance integrations on the financial inclusion ecosystem; and challenges of mobile money and microfinance integrations for financial inclusion in Ghana. The results showed that provider perceptions primarily focus on consumer access, product range, convenience, and regulatory climate. Consumer perceptions also focus on network capacity, fraud and security, and complex user designs. The impacts of mobile money integrations appear to be additive for most users but also transformative for users who were previously excluded from the formal financial sector. However, there are eminent challenges related to system failures, fraud and security concerns, and consumer protection to be addressed to help facilitate the efficiency and sustainability of the mobile money ecosystem.},
 year = {2020}
}

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TY  - JOUR
T1  - Provider and Consumer Perceptions on Mobile Money and Microfinance Integrations in Ghana: A Financial Inclusion Approach
AU  - Judith Aboagye
AU  - Sophia Anong
Y1  - 2020/08/19
PY  - 2020
N1  - https://doi.org/10.11648/j.ijber.20200904.24
DO  - 10.11648/j.ijber.20200904.24
T2  - International Journal of Business and Economics Research
JF  - International Journal of Business and Economics Research
JO  - International Journal of Business and Economics Research
SP  - 270
EP  - 281
PB  - Science Publishing Group
SN  - 2328-756X
UR  - https://doi.org/10.11648/j.ijber.20200904.24
AB  - This study examines the use and impact of mobile money and microfinance services in Ghana. It explores the perspectives of mobile money and microfinance service providers and consumers to identify the nature and extent of use, and their separate and complementary impact on financial inclusion. Qualitative data collected through interviews with service providers, agents, and consumer focus groups were used to draw parallels and contrasts between provider and consumer perceptions on impacts and challenges of the systems. The study addressed four specific objectives identified as provider perceptions on mobile money and microfinance integrations and financial inclusion; consumer perceptions on mobile money and microfinance integrations and financial inclusion; impacts of mobile money and microfinance integrations on the financial inclusion ecosystem; and challenges of mobile money and microfinance integrations for financial inclusion in Ghana. The results showed that provider perceptions primarily focus on consumer access, product range, convenience, and regulatory climate. Consumer perceptions also focus on network capacity, fraud and security, and complex user designs. The impacts of mobile money integrations appear to be additive for most users but also transformative for users who were previously excluded from the formal financial sector. However, there are eminent challenges related to system failures, fraud and security concerns, and consumer protection to be addressed to help facilitate the efficiency and sustainability of the mobile money ecosystem.
VL  - 9
IS  - 4
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Author Information

Judith Aboagye

Department of Housing, Financial Planning, and Consumer Economics, University of Georgia, Athens, USA
Sophia Anong

Department of Housing, Financial Planning, and Consumer Economics, University of Georgia, Athens, USA

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Plain Text BibTeX RIS

APA Style

Judith Aboagye, Sophia Anong. (2020). Provider and Consumer Perceptions on Mobile Money and Microfinance Integrations in Ghana: A Financial Inclusion Approach. International Journal of Business and Economics Research, 9(4), 270-281. https://doi.org/10.11648/j.ijber.20200904.24

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ACS Style

Judith Aboagye; Sophia Anong. Provider and Consumer Perceptions on Mobile Money and Microfinance Integrations in Ghana: A Financial Inclusion Approach. Int. J. Bus. Econ. Res. 2020, 9(4), 270-281. doi: 10.11648/j.ijber.20200904.24

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AMA Style

Judith Aboagye, Sophia Anong. Provider and Consumer Perceptions on Mobile Money and Microfinance Integrations in Ghana: A Financial Inclusion Approach. Int J Bus Econ Res. 2020;9(4):270-281. doi: 10.11648/j.ijber.20200904.24

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@article{10.11648/j.ijber.20200904.24,
  author = {Judith Aboagye and Sophia Anong},
  title = {Provider and Consumer Perceptions on Mobile Money and Microfinance Integrations in Ghana: A Financial Inclusion Approach},
  journal = {International Journal of Business and Economics Research},
  volume = {9},
  number = {4},
  pages = {270-281},
  doi = {10.11648/j.ijber.20200904.24},
  url = {https://doi.org/10.11648/j.ijber.20200904.24},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20200904.24},
  abstract = {This study examines the use and impact of mobile money and microfinance services in Ghana. It explores the perspectives of mobile money and microfinance service providers and consumers to identify the nature and extent of use, and their separate and complementary impact on financial inclusion. Qualitative data collected through interviews with service providers, agents, and consumer focus groups were used to draw parallels and contrasts between provider and consumer perceptions on impacts and challenges of the systems. The study addressed four specific objectives identified as provider perceptions on mobile money and microfinance integrations and financial inclusion; consumer perceptions on mobile money and microfinance integrations and financial inclusion; impacts of mobile money and microfinance integrations on the financial inclusion ecosystem; and challenges of mobile money and microfinance integrations for financial inclusion in Ghana. The results showed that provider perceptions primarily focus on consumer access, product range, convenience, and regulatory climate. Consumer perceptions also focus on network capacity, fraud and security, and complex user designs. The impacts of mobile money integrations appear to be additive for most users but also transformative for users who were previously excluded from the formal financial sector. However, there are eminent challenges related to system failures, fraud and security concerns, and consumer protection to be addressed to help facilitate the efficiency and sustainability of the mobile money ecosystem.},
 year = {2020}
}

Copy | Download

TY  - JOUR
T1  - Provider and Consumer Perceptions on Mobile Money and Microfinance Integrations in Ghana: A Financial Inclusion Approach
AU  - Judith Aboagye
AU  - Sophia Anong
Y1  - 2020/08/19
PY  - 2020
N1  - https://doi.org/10.11648/j.ijber.20200904.24
DO  - 10.11648/j.ijber.20200904.24
T2  - International Journal of Business and Economics Research
JF  - International Journal of Business and Economics Research
JO  - International Journal of Business and Economics Research
SP  - 270
EP  - 281
PB  - Science Publishing Group
SN  - 2328-756X
UR  - https://doi.org/10.11648/j.ijber.20200904.24
AB  - This study examines the use and impact of mobile money and microfinance services in Ghana. It explores the perspectives of mobile money and microfinance service providers and consumers to identify the nature and extent of use, and their separate and complementary impact on financial inclusion. Qualitative data collected through interviews with service providers, agents, and consumer focus groups were used to draw parallels and contrasts between provider and consumer perceptions on impacts and challenges of the systems. The study addressed four specific objectives identified as provider perceptions on mobile money and microfinance integrations and financial inclusion; consumer perceptions on mobile money and microfinance integrations and financial inclusion; impacts of mobile money and microfinance integrations on the financial inclusion ecosystem; and challenges of mobile money and microfinance integrations for financial inclusion in Ghana. The results showed that provider perceptions primarily focus on consumer access, product range, convenience, and regulatory climate. Consumer perceptions also focus on network capacity, fraud and security, and complex user designs. The impacts of mobile money integrations appear to be additive for most users but also transformative for users who were previously excluded from the formal financial sector. However, there are eminent challenges related to system failures, fraud and security concerns, and consumer protection to be addressed to help facilitate the efficiency and sustainability of the mobile money ecosystem.
VL  - 9
IS  - 4
ER  -

Copy | Download