Determinants of cashless society, a case of Inyati Mine in Rusape

https://doi.org/10.35912/amor.v6i1.2097
Published: Aug 9, 2024

Abstract:

Purpose: This study aimed to identify the variables affecting the Inyati community in Inyati Mine's adoption of mobile money.

Research Methodology: A descriptive research design was employed using a stratified random sampling technique.

Results: A target population of 300 households was contacted, and the research concluded that some rural residents find it difficult to access mobile money because of their inferior technological skills, while others believe that network coverage is limited to certain areas of the community, and rural residents are adopting mobile money more slowly than their urban counterparts.

Limitations: The study was restricted to a small community; hence, the findings may not be applicable to a wider community.

Recommendations: This research recommends that network operators ensure network consistency and wide coverage if potential members of the communities are to be included in the mobile wallet. It further recommends some improvements to mobile app systems to remove application complexity; it recommends that mobile money operators partner with international remitting agencies to include excluded groups of potential customers who receive their income from abroad. It also recommends abolishing end-to-end transaction fees to reduce overall transaction costs.

Keywords:
1. mobile money
2. operators
3. remittance and cashless society
Authors:
Sherpherd Chaparadza
Bindura University of Science Education, Zimbabwe
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How to Cite
Chaparadza, S. (2024). Determinants of cashless society, a case of Inyati Mine in Rusape. Annals of Management and Organization Research, 6(1), 43–56. https://doi.org/10.35912/amor.v6i1.2097
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Vol. 6 No. 1 (2024): August
Articles
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References

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  2. Bordo, M. D., & Levin, A. T. (2017). Central bank digital currency and the future of monetary policy. Retrieved from
  3. Burns, S. (2015). Mobile money and financial development: The case of M-PESA in Kenya. Available at SSRN 2688585.
  4. Cámara, N., & Tuesta, D. (2014). Measuring financial inclusion: A muldimensional index. BBVA Research Paper(14/26).
  5. Donovan, K. (2012). Mobile money for financial inclusion. Information and Communications for development, 61(1), 61-73.
  6. Etim, A. S. (2014). Mobile banking and mobile money adoption for financial inclusion. Research in Business and Economics Journal, 9, 1.
  7. Glennow, E., & Granström, A. (2019). Cashless society: Is there a relationship between innovation and cash circulation in economy?
  8. Harare. (2022). Zimbabwe Startup Resource List: 160+ Accelerators, Incubators, Investors, and more. Retrieved from https://fi.co/insight/zimbabwe-startup-resource-list-160-accelerators-incubators-investors-and-more
  9. Ismail, T., & Masinge, K. (2012). Mobile banking: Innovation for the poor. African journal of science, technology, innovation and development, 4(3), 98-127.
  10. Kikulwe, E. M., Fischer, E., & Qaim, M. (2013). Mobile money, market transactions, and household income in rural Kenya. Retrieved from
  11. Markovic, J. (2017). Contingencies and organizing principles in public networks. Public management review, 19(3), 361-380.
  12. Nasri, W., & Charfeddine, L. (2012). An Exploration of Facebook.Com Adoption in Tunisia Using Technology Acceptance Model (TAM) and Theory of Reasoned Action (TRA). The Interdisciplinary Journal of Contemporary Research In Business, 4.
  13. Ozili, P. K. (2020). Theories of financial inclusion Uncertainty and challenges in contemporary economic behaviour (pp. 89-115): Emerald Publishing Limited.
  14. Rea, S. C., & Nelms, T. C. (2017). Mobile money: the first decade. Institute for Money, Technology and Financial Inclusion Working Paper, 1.
  15. Ricardianto, P., Soekirman, A., Pribadi, O., Atmaja, D., Suryobuwono, A., Ikawati, I., . . . Endri, E. (2023). Perceived of ease of use and usefulness: Empirical evidence of behavioral intention to use QR code technology on Indonesian commuter lines. International Journal of Data and Network Science, 7(4), 1815-1828.
  16. Scott, T. A., & Thomas, C. W. (2017). Winners and losers in the ecology of games: Network position, connectivity, and the benefits of collaborative governance regimes. Journal of Public Administration Research and Theory, 27(4), 647-660.
  17. Sharma, P. (2020). Women From Members of Parliament to Leaders of Parliament: A Comparative Analysis of India and Bangladesh?. Psychology, 10(5), 203-211.
  18. Shrier, D., Canale, G., & Pentland, A. (2016). Mobile money & payments: Technology trends. Massachusetts Inst. Technol, 27.
  19. Tamaruddin, T., Firdaus, A., & Endri, E. (2020). Customer satisfaction mediates the effect of self service technology on customer loyalty in of islamic bank E-banking services in indonesia. ILTIZAM Journal of Shariah Economics Research, 4(2), 1-15.
  20. Thulani, D., Kosmas, N., Collins, M., & Lloyd, C. (2011). Adoption and use of SMS/mobile banking services in Zimbabwe: An exploratory study. Journal of Internet Banking and Commerce, 16(2), 1.
  21. Tobbin, P. (2012). Towards a model of adoption in mobile banking by the unbanked: a qualitative study. info, 14(5), 74-88.
  22. veritas.com. (2020). Towards a Prosperous & Empowered Upper Middle Income Society by 2030. Retrieved from https://www.veritaszim.net/sites/veritas_d/files/NDS.pdf
  23. Wasserstein, R. L., & Lazar, N. A. (2016). The ASA statement on p-values: context, process, and purpose (Vol. 70, pp. 129-133): Taylor & Francis.
  24. Zhou, T. (2011). An empirical examination of initial trust in mobile banking. Internet Research, 21(5), 527-540.
  25. Zhu, H. (2014). The rise of mobile money in Kenya: the changing landscape of M-PESA’s impact on financial inclusion. Trinity College of Duke University.