n African Journal of Science, Technology, Innovation and Development - Mobile banking : innovation for the poor

Volume 4, Issue 3
  • ISSN : 2042-1338
  • E-ISSN: 2042-1346
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Access to and the cost of mainstream financial services act as barriers to financial inclusion for many in the developing world. The convergence of banking services with mobile technologies means that users are able to conduct banking services at any place and at any time through mobile banking thus overcoming the challenges to the distribution and use of banking services. This paper examines the factors influencing the adoption of mobile banking by people at the Base of the Pyramid (BOP) in townships around Gauteng province in South Africa, with a special focus on trust, cost and risk. While the most critical factor was found to be cost, trust, negatively correlated with perceived risk, played a key role in enhancing customer loyalty. Implications for public policy and for business strategy are drawn from the research.

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