Mobile Payment Services and Financial Performance of Local Businesses in Kiambu County – Kenya
| dc.contributor.author | Mbugua, Eric Kimani | |
| dc.contributor.author | Suva, Mark | |
| dc.date.accessioned | 2024-11-14T12:41:21Z | |
| dc.date.available | 2024-11-14T12:41:21Z | |
| dc.date.issued | 2024 | |
| dc.description | Journal Article | |
| dc.description.abstract | Mobile payments are a critical emerging mode of financial transactions in the business environment. Local business owners in Kiambu County have faced marginalization from traditional banking, with businesses in these regions lacking access to formal financial services due to factors such as low cash flow levels, lack of collateral and low incomes. Customers have lacked the convenience of transacting with their money in the traditional banks or incurring more costs in accessing their money. Local business owners, customers, and other stakeholder have encountered rigidity in making payments in their daily business operations. Money is transferred to their bank accounts or registered institutions, which is wired to the seller accordingly. Therefore, the current study investigated the effect of mobile payment services on the financial performance of local businesses in Kiambu County, Kenya. The specific objectives of the study investigated the effect of mobile money transfers, online transactions, and mobile payments on the financial performance of local businesses in Kiambu County, Kenya. The study was anchored on agency theory, contingency, the technological acceptance model, and innovation diffusion theory. The study employed a descriptive research study design to explore the sub-variables. A sample size of 157 respondents from the local businesses in Kiambu was targeted. Validity and reliability of the research instruments was considered during the pilot study for 20 respondents that were not involved in the parent study. The reliability analysis showed that all the study variables met the threshold Cronbach value of 0.70. Quantitative data were examined using descriptive and inferential statistical methods and presented in tables and figures, while qualitative data were examined through content analysis. The analysis of demographic information demonstrated a fair representation of both genders, designations to various positions in the local businesses, and various levels of experience dealing with local businesses in Kiambu County, Kenya. The findings indicate a meaningful positive and significant relationship between financial performance and mobile money transfers, online transactions, and mobile payments. Regression analysis suggests that mobile money transfers, online transactions, and mobile payments together account for 52.8 percent of all the variations in the financial performance of local businesses in Kiambu County, Kenya. The study concluded that mobile payment services significantly impacted the financial performance of local businesses in Kiambu County, Kenya. | |
| dc.identifier.citation | Mbugua, E. K., & Suva, M. (2024). International Journals of Academics & Research. | |
| dc.identifier.uri | 10.32898/ibmj.01/6.4article16 | |
| dc.identifier.uri | https://ir-library.ku.ac.ke/handle/123456789/29386 | |
| dc.language.iso | en | |
| dc.publisher | International Journals of Academics & Research (IJARKE Business & Management Journal) | |
| dc.title | Mobile Payment Services and Financial Performance of Local Businesses in Kiambu County – Kenya | |
| dc.type | Article |