EFFECT OF DEMOGRAPHIC CHARACTERISTICS OF LOANEES ON ADOPTION AND USE OF M-PAYMENT SERVICES IN REPAYING LOANS AT HIGHER EDUCATION LOANS BOARD (HELB)
Abstract
This study sought to establish the effect demographic characteristics of the loanees on adoption and use of M-payment services for repaying their loans at HELB. The whole process of showing how an individual actually decides to start using mobile phone payment services for loan repayment may be different from the current use of mobile phone payment for money transfer as well as purchase. The study attempted to provide important contributions to the rapidly growing literature on adoption of m-payment, and on loans repayment in particular. Data was collected from 294 respondents using questionnaires, personal interviews and literature review sources. The data was analyzed using SPSS Version 17.0. The results of the study supported adoption and usage of mobile phone payments. From the study findings, it was concluded that Income was the most important factor considered by HELB in determining the amount of loan to be repaid.
Age was also relatively an important factor in determining the adoption and use of M-payment services. As a result m-payment users were between age of 20-29 and 30-39 thus most targeted. Women and men were equally targeted since they had benefited from HELB loans. M-payment services were used by loanees to mainly repay loans for money borrowed from friends work colleagues and relatives receive money transfer from other people.
Key Words: M-payment, HELB, Loan Repayments
CITATION: Metet, O. C., & Ugangu, W. (2018). Effect of demographic characteristics of lonees on adoption and use of m-payment services in repaying loans at higher education loans board (HELB). The Strategic Journal of Business & Change Management.
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DOI: http://dx.doi.org/10.61426/sjbcm.v5i4.996
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