Is there a bottleneck for mobile money adoption in WAEMU?

Senou, Melain Modeste; Ouattara, Wautabouna; Houensou, Denis Acclassato

doi:10.1080/19186444.2019.1641393

Cited by 19 publications

(15 citation statements)

References 46 publications

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“…To summarize, the adoption and use of mobile money in both the WAEMU and East African countries are driven by determinants related to the least vulnerable social categories, that is, being male, older, more educated, richer and part of the workforce. The same determinants have been found by Zins and Weill (2016) in Africa and by Senou et al (2019) in WAEMU countries. The gap observed in terms of average penetration rates of mobile money accounts between the two regions and which has been observed to be in favor of East African countries may be explained by insufficient awareness policies on the attractiveness of mobile financial services in WAEMU countries.…”

Section: Discussionsupporting

confidence: 84%

“…In addition to this, they assumed that the adoption of mobile money was likely to be enhanced if promotion programs reached more social networks. In the same vein, Senou et al (2019) examined the driving factors of mobile money adoption and the policies that could be implemented to alleviate the bottlenecks of the low digital financial inclusion in the WAEMU. Using both country and individual-level data from the World Bank database, they conducted a cluster analysis and thereafter a logistic regression to investigate both the macroeconomic and microeconomic driving factors of mobile money adoption.…”

Section: Literature Reviewmentioning

confidence: 99%

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A study of the factors affecting mobile money penetration rates in the West African Economic and Monetary Union (WAEMU) compared with East Africa

Coulibaly

2021

Financ Innov

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According to the 2017 Global Financial Inclusion (Global Findex) database, the average penetration rate of mobile money accounts in East Africa is higher than that of the WAEMU. This study attempts to understand the factors driving the adoption and the use of mobile financial services in the WAEMU compared to East Africa. To achieve this, micro-level data from the 2017 Global Findex database are used to perform probit and multinomial logit estimations. The findings reveal that the same determinants influence the adoption and use of mobile money accounts across the populations of both groups of countries, specifically those related to the least vulnerable social categories (i.e., males, older, more educated, richer and part of the workforce). Therefore, in comparison to East Africa, the delay in the penetration of mobile money accounts observed in the WAEMU may be attributed to insufficient policies for increasing the awareness of the benefits of mobile financial services. The study recommends that governments in WAEMU countries promote the use of mobile money accounts among the working-age population (adults aged between 25 and 64) through the improvement of individual income level, and the introduction of incentives into the education system to encourage their population to attain higher levels of education.

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Section: Discussionsupporting

confidence: 84%

Section: Literature Reviewmentioning

confidence: 99%

A study of the factors affecting mobile money penetration rates in the West African Economic and Monetary Union (WAEMU) compared with East Africa

Coulibaly

2021

Financ Innov

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“…Service quality is defined as the direction and degree of difference between customer service perceptions and expectations (Newman, 2001). Service quality is one of the key factors for the success of a bank in the banking industry (Hunjra et al , 2011; Senou et al , 2019). It helps the banks to retain customers and obtain a competitive advantage (Cronin, 2003; Lone, 2017).…”

Section: Literature Reviewmentioning

confidence: 99%

The impact of Islamic Shariah compliance on customer satisfaction in Islamic banking services: mediating role of service quality

Ahmed

Mohiuddin

Rahman

et al. 2021

JIMA

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Purpose The purpose of this paper is to investigate the impact of Islamic Shariah compliance on customer satisfaction through the mediating effect of service quality in Islamic banking services. Design/methodology/approach A total of 334 completed and usable questionnaires were collected from customers of Islamic banks in Bangladesh to test the hypotheses. The data were analyzed using SmartPLS 3. Findings The findings of this study indicate that Islamic Shariah compliance has a positive and significant influence on service quality and customer satisfaction of Islamic banking services. The research findings also indicate that service quality partially mediate the relationship between Islamic Shariah compliance and customer satisfaction of Islamic banking services. Research limitations/implications This study only emphasized on the Islamic banking services of Bangladesh and thus findings of the present study may not be applicable to other service areas. Practical implications The implications of the research are twofold. First, a strong standardized effect of Islamic Shariah compliance on service quality implies that customers are very sensitive to Shariah compliance related to Islamic banking services. Next, maintaining service quality is another crucial aspect to satisfy customers of Islamic banks. Quality of services will only be materialized when all the promises made by the bank function accordingly. Therefore, strategy makers of Islamic banks should assess the customer service quality and satisfaction regularly to improve the overall service experience of customers. Originality/value Limited studies have been conducted to investigate the mediating effect of service quality on the relationship between Shariah compliance and customer satisfaction in Islamic banking services. This study provides valuable insights to Islamic bank to integrate the service quality along with Shariah compliance to enhance customer satisfaction.

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“…There is mixed evidence of complementarities and competition between mobile financial services and banking services. For instance, Jack and Suri (2011) and Senou et al (2019) find that having a bank account increased the adoption and usage of mobile money services. In addition, the International Monetary Fund (2020a) emphasises the complementarity between FinTech and traditional banks.…”

Section: Literature Reviewmentioning

confidence: 99%

“…There is limited emerging evidence addressing Africa's digital divide in light of the post-COVID-19 crisis. For instance, a few studies related to this paper include Coulibaly (2021), Ndanshau and Njau (2021), Were et al (2021), Senou et al (2019) and Jack and Suri (2011). However, they do not provide information on the social-economic determinants of the DFS during the COVID-19 pandemic.…”

mentioning

confidence: 99%

Post‐COVID‐19 recovery for African economies: Lessons for digital financial inclusion from Kenya and Uganda

Mugume

Bulime

2022

African Development Review

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As coronavirus disease-2019 (COVID-19) and other restrictions intensified, individuals, businesses and governments turned to mobile digital platforms to reduce the financial costs and mitigate the risk of spreading the virus within the population. Drawing on lessons from Kenya and Uganda, our study examines the drivers of digital financial inclusion as a pathway for financing post-COVID-19 recovery. We find that digital financial inclusion is higher in middle-aged male digital users with more SIM cards registered in their names. Results also show that users who trust mobile money agents were likely to use more digital financial platforms than others. Based on these results, we recommend the need for government to strengthen the National Identification Systems and consumer protection policies to increase trust in digital financial services. Additionally, financial sector players such as mobile network operators and commercial banks need to innovate and roll out customized digital financial products for the marginalized/unbanked population such as women, the elderly and the youth.

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Is there a bottleneck for mobile money adoption in WAEMU?

Cited by 19 publications

References 46 publications

A study of the factors affecting mobile money penetration rates in the West African Economic and Monetary Union (WAEMU) compared with East Africa

A study of the factors affecting mobile money penetration rates in the West African Economic and Monetary Union (WAEMU) compared with East Africa

The impact of Islamic Shariah compliance on customer satisfaction in Islamic banking services: mediating role of service quality

Post‐COVID‐19 recovery for African economies: Lessons for digital financial inclusion from Kenya and Uganda

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