Analysis of Mobile Financial Services Utilization among Small Scale Businesses in Kiambu County, Kenya
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Date
2020-11-25
Authors
Karanja, Kenneth Kamau
Onono, Perez Ayieko
Journal Title
Journal ISSN
Volume Title
Publisher
Archives of Business Review
Abstract
This study examined the level of utilization of Mobile financial services
among small scale businesses in Kiambu County. Primary data was
obtained through interview administered questionnaire from 123
small scale businesses in Kiambu County. Using descriptive analysis the
study found out that 48.8 percent of the businesses utilized mobile
financial services. The mobile financial services utilized by the
businesses included mobile money in phone, Pay bill Buy goods and
services and mobile money bank accounts. Majority of the businesses
used mobile money in phone. Businesses cited lack of mobile financial
services devices by businesses, lack of mobile financial services
incentives such as loyalty points, mobile money transaction charges,
poor interoperability between networks, low acquaintance to mobile
financial services transactions, service system breakdown, difficulties
while accessing customer care services as major challenges in use of
mobile financial services. The study concludes that mobile financial
services are compliments other financial services in extending
financial services to the unbanked sector in the county and
recommends that systems development and improvement of service
delivery by mobile network operators towards small scale businesses
and enhanced legislations on data protection and cyber-crimes to
protect users of mobile financial services towards increased use of the
services.
Description
A Research Article in the Archives of Business Review
Keywords
Mobile financial services, Random Utility Model, Utilization, Rural areas, Small scale businesses
Citation
Karanja, K. K., & Onono, P. A. (2020). Analysis of Mobile Financial Services Utilization among Small Scale Businesses in Kiambu County, Kenya. Archives of Business Research, 8(11). 248-257.