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Designing pro-poor mobile financial services: Learning from the financial diaries of urban poor in India

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  • Saxena, Raman
  • Mokashi Punekar, Ravi

Abstract

Considering Technology Acceptance Model (TAM) as a reference, this paper presents the findings of a User-Centered research study that enquires into the socio-economic factors for low acceptance of mobile financial services among the urban economically weaker segment of users in India. Following a User-centered qualitative based approach using Financial Diary, fifty respondents in Noida city, Uttar Pradesh, and NCR region participated in the study, completing financial diaries by self-recording their daily financial cash flows over eight weeks duration. This study investigate the link between the day-to-day financial needs and transactions, mobile payment service features and usefulness from the urban economocally weaker population context. Drawing insights from patterns of financial transactions, preoccupations, and expectations that meet respondents’ financial needs, the paper identifies product features that are desirable for inclusion in the digital financial services for their higher acceptance among this user segment. It suggests the need for a User-centered approach in studies of this nature.

Suggested Citation

  • Saxena, Raman & Mokashi Punekar, Ravi, 2020. "Designing pro-poor mobile financial services: Learning from the financial diaries of urban poor in India," World Development Perspectives, Elsevier, vol. 20(C).
    • Handle: RePEc:eee:wodepe:v:20:y:2020:i:c:s2452292920300862
    DOI: 10.1016/j.wdp.2020.100266
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    References listed on IDEAS

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    1. Demirgüç-Kunt, A. & Beck, T.H.L. & Honohan, P., 2008. "Finance for all? : Policies and pitfalls in expanding access," Other publications TiSEM aec73d3a-d6eb-457f-9182-3, Tilburg University, School of Economics and Management.
    2. Daryl Collins, 2005. "Financial instruments of the poor: Initial findings from the financial diaries study," SALDRU/CSSR Working Papers 130, Southern Africa Labour and Development Research Unit, University of Cape Town.
    3. Daryl Collins, 2005. "Financial instruments of the poor: initial findings from the South African Financial Diaries study," Development Southern Africa, Taylor & Francis Journals, vol. 22(5), pages 717-728.
    4. Orlanda Ruthven, 2002. "Money mosaics: financial choice and strategy in a West Delhi squatter settlement," Journal of International Development, John Wiley & Sons, Ltd., vol. 14(2), pages 249-271.
    5. Olga Morawczynski & Mark Pickens, 2009. "Poor People Using Mobile Financial Services : Observations on Customer Usage and Impact from M-PESA," World Bank Publications - Reports 9492, The World Bank Group.
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