However, little is known about the dynamics involved in retailers' adoption and use of Mobile Money. Therefore, this study attempted to investigate the adoption of Mobile Money in the retail business sector, while also finding out factors influencing the adoption.
INTRODUCTION
BACKGROUND OF THE STUDY
PROBLEM STATEMENT
The study only focused on how some key factors that can influence Ghanaian consumers to accept mobile money. Most of the above studies do not focus on retailers, for this reason the study aims to study retailers' adoption of Mobile Money using the UTAUT2 framework.
RESEARCH QUESTIONS
A study conducted by (Glavee-Geo et al., 2019) focused on the key factors influencing Ghanaian consumers to accept Mobile Money using the Technology Acceptance Model (TAM) and Diffusion of Innovation (DOI) theories. Another study used the UTAUT model to study factors influencing non-users' intentions to adopt remote payments for mobile devices (Slade, Dwivedi, Piercy, & Williams, 2015).
RESEARCH OBJECTIVES
SIGNIFICANCE OF THE STUDY
OVERVIEW OF THE STUDY
CONCLUSION
INTRODUCTION
GHANA’S TELECOMMUNICATION INDUSTRY
BANKING SECTOR LANDSCAPE IN GHANA
OVERVIEW OF PAYMENTS SYSTEMS IN GHANA
Customers can also seek the services of third parties for paying utility bills using Mobile Money services (McGrath & Lonie, 2013; . MTNGhana, 2022). For Mobile Money to fully achieve its potential purpose, all ecosystem participants need coordinated action.
EMERGENCE OF MOBILE MONEY IN AFRICA
Overview of Mobile Money in Ghana
Currently, the telecommunications companies involved in Mobile Money are Millicom Ghana (TigoCash), Airtel (Airtel Money), MTN (MTN Mobile Money) and Vodafone (VodafoneCash) (Murphy, 2016). The retailers and utility providers provide a further justification for embracing and using Mobile Money services.
Benefits of Mobile Money
Mobile Money allows you to send and receive money even without a mobile phone using the services of nationally authorized dealers and agents (Opare, 2018). Lal and Sachdev (2015) raise awareness that mobile money drives financial development beyond budgetary inclusiveness and serves as a way to reduce unemployment by offering people the opportunity to work with service providers such as merchants or agents.
Challenges Facing Mobile Money Growth
Tracking the movement of cash is transparent due to the involvement of agents. Therefore this gives the user hope and limits the risks of money losses (Maitrot & Foster, 2012).
FACTORS AFFECTING MOBILE MONEY ACCEPTANCE
Several studies have shown that exercise expectancy significantly influences an individual's desire to adopt a particular technology (Oliveira et al., 2016; Peša & Brajković, 2016; Slade et al., 2015). The presence of a supporting infrastructure will increase people's willingness to accept new technology (Oliveira et al., 2016).
THEORETICAL FRAMEWORK AND BACKGROUND
- Theory of Reasoned Action (TRA)
- Technology Acceptance Model
- Theory of Planned Behaviour
- Combined TAM – TPB
- Model of PC utilization
- Innovation of Diffusion Theory
- Social Cognitive Theory
- Unified Theory of Acceptance and Use of Technology (UTAUT)
- Modified version of Unified Theory of Acceptance and Use of
The Theory of Reasoned Action (TRA) has its origins in the field of cognitive science. Most researchers have used the unified theory of acceptance and use of technology (UTAUT) for a long time to explain possible consumer behavior regarding the acceptance and acceptance pattern of new technologies and innovations (Tobbin & Kuwornu, 2011).
THE THEORY UNDERPINNING THIS STUDY
- Performance Expectancy
- Effort Expectancy
- Social Influence
- Facilitating Conditions
- Hedonic Motivation
- Price Value
- Habit
- Behavioural Intentions
According to (Venkatesh et al., 2003), UTAUT has four main factors that influence the use and intended use of information technology. Despite its wide acceptance, (Venkatesh et al., 2003) added three more constructs to UTAUT and called it UTAUT2. Venkatesh et al., 2003a, p. 451) states that "social influence is the extent or degree to which a person perceives that others believe that a technology or technological product should be used".
This is the eighth construct considered and refers to the extent to which an individual comes up with specific plans to perform or not perform certain behaviors (Venkatesh et al., 2003a; Venkatesh et al., 2012).
CONCLUSION
Price value has a significant impact on the behavioral intention of retailers to use mobile money for business. 2012) defined it as “the degree to which consumers automatically use technologies or products as a result of learning”. H07: Habit does not affect the use of mobile money by business retailers H7: Habit significantly affects the use of mobile money by business retailers 2.8.8 Behavioral intentions. In conclusion, the need for this research with the chosen methodology is to identify the factors that influence the use of mobile money by merchants.
The literature review looked at the prevailing aspects of the technology from the perspective of various researchers.
INTRODUCTION
RESEARCH APPROACH
RESEARCH DESIGN
RESEARCH METHODS
- Study site and research population
- Sampling techniques
- Sample size
- Survey design and layout
- Survey distribution strategy
For this research, the residents were retailers in the central business district of Accra, Ghana. Taherdoost (2016, p. 20) states that “probability sampling means that every element in the population has an equal chance of being included in the sample”. Each participant in the population has a known different probability of being included in the sample.
In random sampling, each element in the sampling frame has an equal probability of being sampled.
DATA ANALYSIS
If they do not understand this, accurate information about the research will not be obtained. When questionnaires are more focused on local areas, face-to-face (self-administered) distribution is appropriate. Face-to-face distribution can help motivate participants because it gives them the chance to ask first-hand questions when they don't understand something.
Closed-ended questionnaires were distributed face-to-face to 200 retailers in the Central Business District (CBD).
DATA RELIABILITY AND VALIDITY
Validity
Reliability
ETHICAL CONSIDERATIONS
Given the ultimate goal is to assure the respondents that all ethical practices will be followed, a letter of informed consent is signed by the researcher and the respondent before completing the questionnaire. This will serve as evidence that respondents have been made aware of the objectives and motives of the research prior to data collection and to ensure that their decision to participate was entirely voluntary and without coercion or coercion. For reasons of confidentiality and privacy, respondents are made aware that they have the right to withhold any information they wish to withhold.
Ethical approval was sought and granted by the University of KwaZulu-Natal Humanities and Social Sciences Research Ethics Committee (HSSREC) – Appendix I.
SUMMARY
INTRODUCTION
DEMOGRAPHIC PROFILE OF SURVEY RESPONDENTS
Gender, Age and Educational Level of Respondents
Table 4.2 provides information on responses to key awareness and use of Mobile Money technology. The table shows that all respondents are aware of the existence of Mobile Money services on the various networks. Of these, 95 percent rely on Mobile Money services in some way, while 5 percent claim not to.
Seventy-seven respondents representing 81% of respondents reported using MTN Mobile Money services.
ANALYSIS OF MEASUREMENT SCALES
EE2 Becoming skilled at using mobile money is easy for me EE3 Interacting with mobile money is easy for me. FC1 My living environment supports me in using mobile money FC2 I have the necessary resources to use mobile money FC3 The use of mobile money is completely under my control. H2 Using mobile money has become part of my daily activities. H3 Using mobile money has become normal for me.
BI2 I intend to continue using Mobile Money in the future BI3 I will recommend Mobile Money to others.
RESPONSES FOR MEASUREMENT SCALES
- Performance Expectancy
- Effort Expectancy
- Facilitating Conditions
- Social Influence
- Hedonic Motivation
- Price Value
- Habit
- Behavioural Intention
The majority of respondents representing 58.2% indicated that they could quickly become proficient with Mobile Money systems, while 24.2% strongly agreed. The mean value for this construct was 3.93, indicating that most respondents agreed that they were satisfied with the use of mobile money. As a habit, 36.7% of respondents indicated that they use mobile money to support regular daily activities, while 51.1% fully agreed.
The mean value for this construct was 4.09, indicating that most respondents agree with the intention to continue using mobile money.
Principle Component Analysis
A strong variable loading on the extracted component indicates good reliance on the variable to explain variances. The selected items were part of the influence of the factors on the 12 extracted components. This benchmark of 0.6 was suggested by (Guadagnoli & Velicer, 1988) as adequate to explain the variance of the included variables/items.
Items that did not load at least an approximate value of 0.6 were part of the items shown in Table 4.8.
RELIABILITY ANALYSIS
MULTIPLE REGRESSION ANALYSIS
The Linear Regression Equation to Predict Behavioural Intention
A linear equation was formulated based on the beta values obtained in the linear regression to help create a model for predicting users' behavioral intention to use mobile money services. A further test was performed to see how independent variables such as Behavioral Intention (BI), Facilitating Conditions (FC) and Habit (H) might relate to reality. This meant that it had no significant impact on users' usage behavior when using mobile money systems.
Habit (HA) showed a t-value of -0.838 and a corresponding sig value of 0.404, indicating that it did not significantly influence the behavior of USE towards mobile money systems.
The Linear Regression Equation to Predict Use Behaviour
HYPOTHESIS TESTING
- Impact of Performance Expectancy on Behavioural Intention to use Mobile Money
- Impact of Effort Expectancy on Behavioural Intention to use Mobile Money
- Impact of Social Influence on Behavioural Intention to use Mobile Money
- Impact of Facilitating Conditions on Use Behaviour to use Mobile Money
- Impact of Hedonic Motivation on Behavioural Intention to use Mobile Money
- Impact of Price Value on Behavioural Intention to use Mobile Money Services
- Impact of Habit the use of Mobile Money Services
- Impact of Behavioural Intention of Use Behaviour of Retailers to use Mobile
In this wing, a hypothesis was formulated to test whether PE significantly affects the behavioral intention to use a system such as Mobile Money services. This inferred that the effort expectancy construct had a significant influence on the behavioral intention to use Mobile Money services. The sig value is less than the 95 percent confidence interval value of 0.05 and therefore we can conclude that the impact of price value on behavioral intention to use Mobile Money services is significant.
This means that there was a significant impact of behavioral intention on the actual usage behavior towards mobile money systems.
CHAPTER SUMMARY
A hypothesis was generated to help test the effect of behavioral intention on actual usage behavior. This was the final test to see if there was a positive impact on the use of mobile money systems. After the regression analysis, a beta value of 0.2 and a sig value of 0.038 were obtained.
INTRODUCTION
MOBILE MONEY AWARENESS AND USAGE IN GHANA
Awareness of Mobile Money services
Usage of Mobile Money services
Purpose of Use of Mobile Money services
FACTORS AFFECTING MOBILE MONEY TECHNOLOGY ACCEPTANCE
- Impact of Performance Expectancy on Behavioural Intention to use Mobile Money
- Impact of Effort Expectancy on Behavioural Intention to use Mobile Money
- Impact of Hedonic Motivation on Behavioural Intention to use Mobile Money
- Impact of Price Value on Behavioural Intention to use Mobile Money Services
- Impact of Habit on the use of Mobile Money Services
- Impact of Behavioural Intention of Use Behaviour of Retailers to use Mobile
In this study, surveyed retailers indicated that price value had a significant impact on retailer behavioral intent to use mobile money. & Tseng, 2013) explain that if the monetary benefits outweigh the monetary costs, the price value can have a positive impact on the adoption and use of mobile money systems. Using mobile money has become a normal thing for retailers and using mobile money is something that retailers do without fear.
This implies that retailers admit that they prefer to use Mobile Money, intend to continue using Mobile Money in the future and recommend Mobile Money to others.
RECOMMENDATIONS
LIMITATION OF THE STUDY
FUTURE RESEARCH
CONCLUSION
Factors determining the continued intention to use mobile money transfer services (MMTS) among university students in Ghana. UTAUT model explaining the adoption of mobile money use by customers of MSMEs in Uganda. Customer perception of adoption and use of digital financial services and mobile money services in Uganda.
The impact of mobile money transfer services on the performance of micro-enterprises in Kitale municipality.
APPENDIX A: INFORMED CONSENT
All data, both electronic and hard copy, will be securely stored during the study and archived for 5 years.
APPENDIX B: CONSENT TO PARTICIPATE
APPENDIX C: RESEARCH INSTRUMENT (QUESTIONNAIRE)
I will recommend Mobile Money to others. I intend to use mobile money in the future as well. The cost of using Mobile Money services would be higher than using other banking channels.
APPENDIX D: DESCRIPTIVE STATISTICS FOR CONSTRUCTS
APPENDIX E: Likert Scale Responses for construct items
APPENDIX F: Stacked Bar graphs for Likert Scale responses
APPENDIX G: OPERATING COST IN GREATER ACCRA REGION
APPENDIX I: ETHICAL APPROVAL
