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Mobile money service is a major retail financial service provided by telecommunication firms and formal banking institutions in many countries in Sub-Saharan Africa. The increased patronage of mobile money services demands that telecommunication firms enhance the quality-of-service delivery they offer in order to stay competitive. The purpose of this paper is to investigate the service quality factors that influence customer satisfaction and continuance usage of mobile money services. Data were collected from 494 users of mobile money services. Using structural equation modeling, this study tested hypotheses on the effect of service quality variables on customer satisfaction and continuance usage of mobile money services. The findings indicate that the availability of services, facilities, and security influence customer satisfaction, whereas the expertise of the service provider, the operator’s network system, and responsiveness influence continued use of mobile money services. The findings of this study will assist mobile money service providers and policymakers in planning services that will increase customer satisfaction and retention. The study contributes to identifying service quality constructs that influence customer satisfaction and continuance usage in the mobile money context.
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Vol.:(0123456789)
Journal of Financial Services Marketing
https://doi.org/10.1057/s41264-021-00138-5
ORIGINAL ARTICLE
Determining mobile money service customer satisfaction
andcontinuance usage throughservice quality
KojoKakraTwum1,2· JohnPaulBaseweKosiba3 · RobertEboHinson4,5,6· AntoinetteYaaBenewaaGabrah7·
EbenezerNyarkoAssabil1
Received: 17 February 2021 / Revised: 25 August 2021 / Accepted: 26 December 2021
© The Author(s), under exclusive licence to Springer Nature Limited 2022
Abstract
Mobile money service is a major retail financial service provided by telecommunication firms and formal banking institu-
tions in many countries in Sub-Saharan Africa. The increased patronage of mobile money services demands that telecom-
munication firms enhance the quality-of-service delivery they offer in order to stay competitive. The purpose of this paper
is to investigate the service quality factors that influence customer satisfaction and continuance usage of mobile money
services. Data were collected from 494 users of mobile money services. Using structural equation modeling, this study tested
hypotheses on the effect of service quality variables on customer satisfaction and continuance usage of mobile money ser-
vices. The findings indicate that the availability of services, facilities, and security influence customer satisfaction, whereas
the expertise of the service provider, the operator’s network system, and responsiveness influence continued use of mobile
money services. The findings of this study will assist mobile money service providers and policymakers in planning services
that will increase customer satisfaction and retention. The study contributes to identifying service quality constructs that
influence customer satisfaction and continuance usage in the mobile money context.
Keywords Mobile money· Service quality· Customer satisfaction· Continuance usage· Telecommunication
Introduction
Mobile money service is an innovative mechanism that
allows people to receive, store and spend money using a
mobile phone without directly involving a bank or owning
a bank account (Suri and Jack 2016; Suri 2017). Despite
the fact that there are numerous mobile-payment options
available, such as mobile applications, mobile wallets, and
mobile banking (Clement 2019), mobile money is signifi-
cantly bridging the gap that existed in in developing coun-
tries where financial services are concerned (Munyegera
and Matsumoto 2016). Mobile money services have been
found to impact society positively in several ways, including
poverty reduction,household savings (Suri and Jack 2016)
and accessing financial services (Munyegera and Matsumoto
2016). Unlike other money-payment options, mobile money
uses information and communications technology that
allows individuals to send and receive money using a mobile
phone a success story of mobile money services is that of
M-PESA in Kenya, with about 30 million customers across
10 countries (World Bank 2018). Out of Ghana’s total popu-
lation of 31, 072, 945 (World Bank 2020) the Bank of Ghana
(2021) reports that there are 32.7 million registered accounts
and 14.7 million active accounts in Ghana. It is worth not-
ing that in 2018, the Bank of Ghana reported that there are
13.06 million active accounts in Ghana. The GSMA (2021)
report indicates that in 2020, there are 1.2 billion registered
* John Paul Basewe Kosiba
john.kosiba@upsamail.edu.gh
1 Department ofBusiness Administration, Presbyterian
University College, Abetifi, Ghana
2 Department ofMarketing andSupply Chain Management,
University ofCape Coast, CapeCoast, Ghana
3 Department ofMarketing, University ofProfessor Studies,
Accra, P. O. Box LG 147, Accra, Ghana
4 Business School, University ofGhana, P.O. Box LG
78. Legon, Accra, Ghana
5 Lincoln International Business School, Lincoln, UK
6 University oftheFree State Business School, Bloemfontein,
SouthAfrica
7 Department ofMarketing, University ofProfessional Studies,
Accra, Ghana
Content courtesy of Springer Nature, terms of use apply. Rights reserved.
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