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Analysis of the Determinants of Mobile Money Adoption and Use: Evidence from Togo with Simple and Multivariate Probit Approaches

Author

Listed:
  • Steve Douanla Meli

    (University of Yaoundé II
    Research Laboratory in Applied Microeconomics)

  • Benjamin Fomba Kamga

    (University of Yaoundé II)

  • Clément Nodem Meli

    (Ministry of Scientific Research and Innovation)

Abstract

This study analyzes both the adoption and the use of mobile money (MM) services in Togo. More precisely, based on the Global Findex survey conducted in 2017 by the World Bank, it first attempts to profile MM adopters, then to identify the explanatory factors of the different uses of MM services. Thus, using a Probit model, it highlights the explanatory factors of MM adoption in Togo. And through a multivariate regression, it identifies the determinants of the use of MM services. Then, the estimates of three independent Probit, under the assumption of non-simultaneity of the different uses of MM services, are carried out to test the reliability and robustness of the results. The results of the analyses reveal that socioeconomic factors such as age, education level, standard of living, and cell phone ownership affect both MM adoption and MM service use in Togo.

Suggested Citation

  • Steve Douanla Meli & Benjamin Fomba Kamga & Clément Nodem Meli, 2024. "Analysis of the Determinants of Mobile Money Adoption and Use: Evidence from Togo with Simple and Multivariate Probit Approaches," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(4), pages 16156-16186, December.
    • Handle: RePEc:spr:jknowl:v:15:y:2024:i:4:d:10.1007_s13132-024-01748-9
    DOI: 10.1007/s13132-024-01748-9
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    References listed on IDEAS

    as
    1. Douanla Meli, Steve & Fosso Djoumessi, Yannick & Djiogap, Constant Fouopi, 2022. "Analysis of the socio-economic determinants of mobile money adoption and use in Cameroon," Telecommunications Policy, Elsevier, vol. 46(9).
    2. François Fall & Yaya Ky & Ousmane Birba, 2015. "Analyzing the Mobile-Banking Adoption Process among Low-Income Populations: A Sequential Logit Model," Post-Print hal-01566382, HAL.
    3. Bedman Narteh & Mahmoud Abdulai Mahmoud & Simon Amoh, 2017. "Customer behavioural intentions towards mobile money services adoption in Ghana," The Service Industries Journal, Taylor & Francis Journals, vol. 37(7-8), pages 426-447, June.
    4. S. V. Krishna Kishore & Aloysius Henry Sequeira, 2016. "An Empirical Investigation on Mobile Banking Service Adoption in Rural Karnataka," SAGE Open, , vol. 6(1), pages 21582440166, March.
    5. François Seck Fall & Yaya Ky & Ousmane Birba, 2015. "Analyzing the Mobile-Banking Adoption Process among Low-Income Populations: A Sequential Logit Model," Economics Bulletin, AccessEcon, vol. 35(4), pages 2085-2103.
    6. Sabrine Bair & Ahmed Tritah, 2019. "Mobile Money and Inter-Household Financial Flows: Evidence from Madagascar," Revue économique, Presses de Sciences-Po, vol. 70(5), pages 847-871.
    7. Isaac Mbiti & David N. Weil, 2015. "Mobile Banking: The Impact of M-Pesa in Kenya," NBER Chapters, in: African Successes, Volume III: Modernization and Development, pages 247-293, National Bureau of Economic Research, Inc.
    8. François Seck Fall & Luis Orozco & Al‐Mouksit Akim, 2020. "Adoption and use of mobile banking by low‐income individuals in Senegal," Review of Development Economics, Wiley Blackwell, vol. 24(2), pages 569-588, May.
    9. William Jack & Tavneet Suri, 2011. "Mobile Money: The Economics of M-PESA," NBER Working Papers 16721, National Bureau of Economic Research, Inc.
    10. Steve Douanla Meli & Benjamin Fomba Kamga & Hervé Mougnol A. Ekoula, 2023. "Gender and Financial Inclusion in Cameroon: An Analysis of Gender Gaps in Access to Formal and Informal Financial Services," The African Finance Journal, Africagrowth Institute, vol. 25(1), pages 85-101.
    11. N'dri, Lasme Mathieu & Kakinaka, Makoto, 2020. "Financial inclusion, mobile money, and individual welfare: The case of Burkina Faso," Telecommunications Policy, Elsevier, vol. 44(3).
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    More about this item

    Keywords

    Adoption; Use; Mobile money; Togo;
    All these keywords.

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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