Mobile Money Usage and Growth of Customers’ Deposits in Commercial Banks in Kakoba Division, Mbarara Municipality
- September 20, 2019
- Posted by: RSIS
- Categories: IJRISS, Social Science
International Journal of Research and Innovation in Social Science (IJRISS) | Volume III, Issue IX, September 2019 | ISSN 2454–6186
Nuwamanya Allen1, Nsambu Kijjambu Frederick2, Nomugisha Mary3
1Faculty of Business Studies, Bishop Sturt University, P. O box 09, Mbarara, Uganda.
2Faulty of Business and Management Science, Mbarara University of Science and Technology, Mbarara, Uganda
3Faculty of Business Studies, Bishop Sturt University, P. O box 09, Mbarara, Uganda
Abstract: – The study established the effect of Mobile money usage on growth of customers’ deposits in commercial banks. The study was guided by four objectives; establishing the mobile money operating cycle, whether mobile money operators have bank accounts for their mobile money businesses, trend of growth of customers’ deposits in commercial banks and relationship between mobile money usage and the growth of customers’ deposits in commercial banks. The study used a cross sectional research design while collecting data, quantitative and qualitative approaches were used. The study used simple random and stratified sampling methods, while the questionnaire and interview guide were used to collect the data from different respondents, correlation matrix was run in order to establish the relationship between the variables.
Key words: Mobile money usage, Mobile money operating cycle, Growth of Customers’s deposits
I. INTRODUCTION
Mobile financial services are among the promising application in the developing world, mobile money became a general platform that transform entire economies as it is adopted across commerce, health care, agriculture and other sectors (Kevin,2012). Worldwide, more than 50% of mobile money users carry out transactions via a mobile money account and mobile money banking continues to engage consumers by which mobile devices are used to conduct businesses such as banking, payments, bringing new customers and also enabling a more customized experience and services that are more closely tailored to customers’ behaviours, however, mobile money is not common in developed markets like Germany, Canada and Europe as their internet infrastructure is strong ( Nielsen, 2016).
