Mobile money as a driver of digital financial inclusion

Shaikh, Aijaz A.; Glavee-Geo, Richard; Karjaluoto, Heikki; Hinson, Robert Ebo

doi:10.1016/j.techfore.2022.122158

Cited by 63 publications

(26 citation statements)

References 86 publications

(96 reference statements)

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“…• RQ -2 The effect of payment systems can be studied using other macroeconomic variables like GDP, savings, etc. (Shaikh et al, 2023) "The level of user participation in the co-creation of the service may influence the perception of empowerment. Greater participation induces focused attention in computer-mediated interactions, to the extent that highly engaged customers see themselves as experts.…”

Section: Resultsmentioning

confidence: 99%

Present State and Future Directions of Digital Payments System: A Historical and Bibliographic Examination

Kesavan¹,

Srinivasan²

2023

J. Professional Business Review

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Purpose: The purpose of this research is to conduct a bibliographic analysis of digital payment systems. Theoretical framework: The digital payments system is a technologically advanced payment system that enables individuals, businesses, and nations to become self-sufficient, contactless, and tap-less when conducting transactions. Understanding the significance of the digital payment system is crucial. There remains much to investigate and discover. Design/methodology/approach: The using of an academic search method on the Scopus database, a bibliometric study of 714 publications on digital payment systems from the year 2000 to 2022 was conducted. For this experiment, we made use of Biblioshiny, an R-based web application available in the Bibliometrix package. We were able to identify significant publications, authors, nations, and article themes by using the software's automatic technique. We studied the citations, co-citations, and social networks. Findings: The results were able to identify significant publications, authors, nations, and article themes by using the software's automatic technique. We studied the citations, co-citations, and social networks. The statistics revealed that the number of publications increased gradually in the early years, followed by a sharp rise between the years 2005 and 2022. These years correspond to the political attempts to recover from the 2008 global financial crisis. India conducts the most significant scientific research in this field, followed by United States and China. Research, Practical & Social implications: This study not only identifies the research fields in digital payment systems, but also identifies the central key themes with possible research directions, in the area of electronic money, mobile money, authentication, security, Internet of things, blockchain, FinTech, mobile banking and Covid – 19. Originality/value: The findings of this study may be used by policymakers to inform the design of digital payment systems, policy initiatives, and other policy measures. Banking, financial planning, and investment management professionals would understand the rising concerns completely. Therefore, researchers, practitioners, and policymakers will use the current literature while doing fresh research on the Payments system's strengths and weaknesses.

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Section: Resultsmentioning

confidence: 99%

Present State and Future Directions of Digital Payments System: A Historical and Bibliographic Examination

Kesavan¹,

Srinivasan²

2023

J. Professional Business Review

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“…Second, we provided theoretical insights from the managers’ perspectives. Previous studies on the dark side of FinTech in emerging economies has often come from the consumers' perspective – Shaikh et al. (2023) and Dzandu et al .…”

Section: Discussionmentioning

confidence: 99%

“…While FinTech may be considered a universal form of digital transformation, it has become imperative to recognise the inherent challenges of how emerging economies adopt and integrate FinTech. Moving away from the technology adoption narratives from WEIRD societies, we align with previous studies on digital transformation and FinTech in developing countries (Abdulquadri et al ., 2022; Dzandu et al ., 2022; Mogaji and Nguyen et al ., 2022; Shaikh et al. , 2023) and posits that FinTech operations in a developing country differ from those in developed countries with better technological infrastructure and institutional acceptance.…”

Section: Discussionmentioning

confidence: 99%

“…Second, we provided theoretical insights from the managers' perspectives. Previous studies on the dark side of FinTech in emerging economies has often come from the consumers' perspective - Shaikh et al (2023) and Dzandu et al (2022) collected data from mobile money users in Ghana; Djahini-Afawoubo et al, 2023 collected from customers from Togo; while Mogaji and Nguyen (2022b) interviewed financially vulnerable customers in Nigeria. While not doubting these insights from the customers, our study provided a deeper understanding into the dark side through the managers' reflections on their business practices as they relate to the customers they are serving, their technical capabilities to provide financial services and their regulatory dilemmas.…”

Section: Dark Side Of Fintech In Financial Servicesmentioning

confidence: 99%

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The dark side of FinTech in financial services: a qualitative enquiry into FinTech developers’ perspective

Sampat

Mogaji

Nguyen

2023

IJBM

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Purpose FinTech offers numerous prospects for significant enhancements and fundamental changes in financial services. However, along with the myriad of benefits, it also has the potential to induce risks to individuals, organisations and society. This study focuses on understanding FinTech developers’ perspective of the dark side of FinTech.Design/methodology/approach This study conducted semi-structured interviews with 23 Nigerian FinTech developers using an exploratory, inductive methodology The data were transcribed and then thematically analysed using NVivo.Findings Three themes – customer vulnerability, technical inability and regulatory irresponsibility – arose from the thematic analysis. The poor existing technological infrastructure, data management challenges, limited access to data and smartphone adoption pose challenges to a speedy integration of FinTech in the country, making customers vulnerable. The lack of privacy control leads to ethical issues. The lack of skilled developers and the brain drain of good developers present additional obstacles to the development of FinTech in Nigeria.Research limitations/implications FinTech operation in a developing country differs from that in developed countries with better technological infrastructure and institutional acceptance. This study recognises that basic banking operations through FinTech are still not well adopted, necessitating the need to be more open-minded about the global practicalities of FinTech.Practical implications FinTech managers, banks and policymakers can ethically collect consumer data that can help influence customer credit decisions, product development and recommendations using the mobile app and transaction history. There should be strict penalties on FinTech for selling customers’ data, sending unsolicited messages or gaining unnecessary access to the customer’s contact list. FinTech can offer to educate consumers about their financial management skills.Originality/valueWhereas other studies have focused on the positive aspects of FinTech to understand client perceptions, this study offers new insights into the dark side of FinTech by analysing the viewpoints of FinTech developers. Furthermore, the study is based in Nigeria, an emerging economy adopting FinTech, adding a new dimension to the body of knowledge.

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“…In the second stage the same procedure is applied to develop an overall FI index. Additionally, for robustness checks, following Shaikh et al (2023) and Khera et al (2022), the study used measure of digital nancial inclusion (DFI) like mobile subscription per 100 people and % of the population who has access to the internet and usage dimension with % of adults who have a mobile account and % of adults who uses the internet to pay.…”

Section: Financial Inclusionmentioning

confidence: 99%

Remittances and Financial Inclusion: The Role of Institutional Quality in Belt and Road Initiative Economies

Liaqat,

Hashmi,

Khan

et al. 2024

Preprint

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This study examines the remittances and financial inclusion nexus by subsuming the critical role of institutional quality in the unique settings of Belt and Road Initiative (BRI) economies. The existing literature pertaining to the role of institutional quality in remittances and financial inclusion has placed less emphasis on the multidimensional nature of financial inclusion. Therefore, this study contributes to the debate on the role of institutions in explaining the nexus between remittances and financial inclusion. By adopting two-stage least squares (2SLS) and generalized methods of moments (GMM) estimation techniques, the empirical findings show that institutional quality plays a significant role in explaining the relationship between remittances and financial inclusion across various dimensions. The overall findings are further confirmed by applying a series of robustness checks such as the adoption of alternative measure of financial inclusion and institutional quality, alternative instruments and alternative estimator. The study offers useful policy implications for governments, regulatory agencies, and other stakeholders in BRI partners economies. GEL Classification: F24; G15; G28

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Mobile money as a driver of digital financial inclusion

Cited by 63 publications

References 86 publications

Present State and Future Directions of Digital Payments System: A Historical and Bibliographic Examination

Present State and Future Directions of Digital Payments System: A Historical and Bibliographic Examination

The dark side of FinTech in financial services: a qualitative enquiry into FinTech developers’ perspective

Remittances and Financial Inclusion: The Role of Institutional Quality in Belt and Road Initiative Economies

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