FACTORS INFLUENCING THE GROWTH OF SAFARICOM M-PESA MOBILE MONEY TRANSFER SERVICES IN NAIROBI COUNTY
Abstract
The main objective of the study was to determine the factors influencing the growth of Safaricom M-pesa service with specific reference to Nairobi County. The mobile money sector in Kenya and globally is growing at a tremendous rate and each and every month new aggressive and excessive rate innovative players enter the sector with new standard ways of providing customer satisfaction solutions. It is therefore important for every player in the sector to understand the factors affecting the mobile money transfer services through an understanding of the kind of business we are in and the challenges facing it. Most of the existing research and literature of M-pesa has focused on how and why customers use the product, strategies used by M-pesa to remain the most successful mobile money transfer service globally and its impact on financial inclusion in Kenya. None of the studies has been done in relation to the influence of M-pesa usage convenience and efficiency in the growth of M-pesa service in Nairobi County. The specific objectives were: to determine how convenience of M-pesa usage and M-pesa efficiency influenced growth of M-pesa service in Nairobi County. The research study was studied through the use of a descriptive research design. This study matched with the description as it focused on the state of affairs as it were in the present. The research design has proven to be a success as per the past studies since the research involved seeking information that was regarded as personal M-pesa information being part of the society incidents in the study. The target population for the study comprised the subscribers of Safaricom mobile services in Nairobi County. The study used a random sampling design. For this study, both qualitative and quantitative techniques were used. Quantitative data was analyzed by descriptive analysis. Finally, data was presented in tables and graphs while the explanation on the same was presented in prose. The expected outcomes of the study were that M-pesa usage convenience and efficiency had a significant influence on the growth of M-pesa service.
Key Words: Convinience, Efficiency, Safaricom Mpesa
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DOI: http://dx.doi.org/10.61426/sjbcm.v4i2.451
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