Mobile Money Payments in Ghana "Positioning the Retail Agents as Change Agents in the Transformation of Mobile Payment Transactions"

Title

Mobile Money Payments in Ghana "Positioning the Retail Agents as Change Agents in the Transformation of Mobile Payment Transactions"

Project Year

2012

Region

West Africa

Country

Ghana

Project Description

The World Bank report of 2012 indicates that global mobile phone subscription now stands at 6 billion. This figure represents approximately 75 percent of the world's population. In Ghana, the present mobile phone penetration of 98% makes it a fertile ground for the promotion of mobile money activities. Statistics from the World Bank Report show that between GLO, MTN and Airtel there are 5.4 million subscribers with total daily transactions of approximately GHC (Ghana Cedi) 16.5 million. Nonetheless there is a lack of penetration in rural areas.

We will look at the different roles that private technology companies and the government of Ghana can play in promoting mobile money uptake. We are interested in looking at responsibility, awareness, uptake, promotional material, stakeholder conferences and gaps between rural and urban dwellers.

Several factors account for the low patronage of digital financial services and payment systems in the urban and rural communities in Ghana. Some of these factors include; fear of losing money that is stored electronically, lack of trust in the digital financial payment systems, time lost in engaging on electronic transaction while physical contacts could provide results and lack of proper information on the advantages of using mobile money.

Cited in David S. Evans and Alexis Pirchio, An Empirical Examination of Why Mobile Money Schemes Ignite in Some Developing Countries but Flounder in Most, University of Chicago Coase-Sandor Institute for Law & Economics Research Paper No. 723, March 2015, 2.

Researcher(s)

Yaw Owusu-Agyemang and Abena Offe

About the Researcher(s)

Yaw Owusu-Agyemang is Head of Unit/Adjunct lecturer: Ghana Telecom University College & Stellenbosch University, Examinations and Records Unit

Researcher 2

Abena Offe is Head, Academic Partnerships Ghana Telecom University College

Citation

“Mobile Money Payments in Ghana "Positioning the Retail Agents as Change Agents in the Transformation of Mobile Payment Transactions",” Institute for Money, Technology & Financial Inclusion (IMTFI) Research Projects, accessed March 28, 2024, https://imtfiresearch.omeka.net/items/show/6554.

Output Formats