Business, Management and Accounting
3 years ago

Somalia's Mobile Money Hesitation Factors Hindering Financial Inclusion Progress

International Journal of Engineering and Advanced Technology
Empirical Data on Mobile Money Hesitation Factors in Somalia
Fouad Youssouf Osman, Mohammad Ali Tareq

Paper Summary

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Mobile money in Somalia is widely used, but many people hesitate to fully embrace it due to various factors. A study surveyed 375 mobile money users and found that concerns about financial loss, system errors, weak authentication, lack of regulation, and interoperability issues are the main reasons for hesitation. To increase mobile money usage, improvements in authentication accuracy, interoperability, compensation systems, and regulations are needed.