An examination on the factors influencing customers' adoption of mobile money transfer in Somalia

Abstract

Technology, in general, and mobile phones, in particular, has seen some huge developments and changes for the last two decades. As a result, many new service platforms have been introduced. Mobile Money transfer service is an aspect of electronic payment which represent a financial revolution in countries like Somalia where a cashless society is emerging. This research aims to examine factors that influence the adoption of mobile money transfer service in Somalia. This research has adopted a quantitative approach methodology and data were collected from 140 respondents among the users of mobile money transfer service in Mogadishu. Structured questionnaires, adopted from the existing researches in the area of adoption, were issued and distributed to the respondents. The current study applied diffusion of innovation theory to investigate the influence of these four independent variables: relative advantage, compatibility, complexity and perceived risk on the adoption of mobile money transfer service as the dependent variable of the study. Statistical Package for Social Science (SPSS) Software was employed to analyze the collected data and to test the hypothesis.