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Demonetisation for changing payment behaviour and building platforms

Author

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  • Shahid, Qasif
  • Razaq, Lubna

Abstract

Although mobile money is seen as the solution for financial inclusion, some countries have been facing challenges in the adoption of mobile wallet accounts. Slow adoption is linked to the perceived benefit of the mobile wallet, which, among other things, is informed by the cost of adoption. This paper discusses various issues relating to the pricing of mobile payments and how pricing decisions affect consumer adoption of mobile wallets in developing countries. It discusses how the demonetisation of digital payment instruments can positively affect the perceived utility and hence adoption of mobile payment, in addition to the associated network effects and implications for Big Data. It also suggests that FinTechs are the best candidates to demonetise payments. It further explains how mobile wallets can be used as the foundations for applications and services that mobile financial service providers have been unable to provide by themselves.

Suggested Citation

  • Shahid, Qasif & Razaq, Lubna, 2017. "Demonetisation for changing payment behaviour and building platforms," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 11(2), pages 158-167, August.
    • Handle: RePEc:aza:jpss00:y:2017:v:11:i:2:p:158-167
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    More about this item

    Keywords

    digital payments; payment behaviour; payment pricing; behaviour change; mobile money; financial inclusion;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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