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Mobile Financial Services: Design and Development – An Unexplored Pathway to Financial Inclusion

Mobile Financial Services: Design and Development – An Unexplored Pathway to Financial Inclusion

Alexander Maina Kimari, Eric Blanco Niyitunga
Copyright: © 2020 |Pages: 24
ISBN13: 9781799823988|ISBN10: 1799823989|ISBN13 Softcover: 9781799823995|EISBN13: 9781799824008
DOI: 10.4018/978-1-7998-2398-8.ch005
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MLA

Kimari, Alexander Maina, and Eric Blanco Niyitunga. "Mobile Financial Services: Design and Development – An Unexplored Pathway to Financial Inclusion." Impact of Mobile Payment Applications and Transfers on Business, edited by Thaisaiyi Zephania Opati and Martin Kang'ethe Gachukia, IGI Global, 2020, pp. 96-119. https://doi.org/10.4018/978-1-7998-2398-8.ch005

APA

Kimari, A. M. & Niyitunga, E. B. (2020). Mobile Financial Services: Design and Development – An Unexplored Pathway to Financial Inclusion. In T. Opati & M. Gachukia (Eds.), Impact of Mobile Payment Applications and Transfers on Business (pp. 96-119). IGI Global. https://doi.org/10.4018/978-1-7998-2398-8.ch005

Chicago

Kimari, Alexander Maina, and Eric Blanco Niyitunga. "Mobile Financial Services: Design and Development – An Unexplored Pathway to Financial Inclusion." In Impact of Mobile Payment Applications and Transfers on Business, edited by Thaisaiyi Zephania Opati and Martin Kang'ethe Gachukia, 96-119. Hershey, PA: IGI Global, 2020. https://doi.org/10.4018/978-1-7998-2398-8.ch005

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Abstract

The chapter explores financial exclusion, its causes, and consequences in society. The chapter found that the existing discrepancy in financial inclusion between the developed and developing world is driven by financial exclusion that makes it difficult for financial service providers to expand outreach to the poor at affordable prices. The chapter aims to investigate the role of mobile financial service design and development in dealing with financial exclusion. It was found that mobile financial services are promoting financial inclusion in various markets. However, few studies have been undertaken on the benefits of mobile financial services in dealing with the high rates of financial exclusion. The chapter recommended that to achieve financial inclusion, there is need for mobile financial services providers to take into account customer experience through the ease of using the phone interface. The chapter concluded that there is need for scholars in the fields of finance and economics to conduct research in the areas of mobile financial services and their role in society.

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