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Factors Influencing the Use of Mobile Payment Services in Selected Areas of Bangladesh

Md. Rasheduzzaman
Department of Agribusiness and Marketing, Faculty of Agricultural Economics and Rural Sociology, Bangladesh Agricultural University, Mymensingh 2202, Bangladesh

Md. Salauddin Palash
Department of Agribusiness and Marketing, Faculty of Agricultural Economics and Rural Sociology, Bangladesh Agricultural University, Mymensingh 2202, Bangladesh

Md. Mostafizur Rahman
Department of Agricultural Marketing and Business Management, Faculty of Agricultural Economics and Business Studies, Sylhet Agricultural University, Sylhet 3100, Bangladesh

Abstract/ Executive Summary:

Mobile payment services are spreading in Bangladesh like a spider net with the development of information and communication technology (ICT) and ubiquitous internet access. The present study was conducted to explore the influencing factors of e-commerce transaction through mobile payment services and to investigate the customer experiences with the services where sources of satisfaction and dissatisfaction were identified. Data were collected from 240 users of mobile payment services through field survey during March to April in 2020 by purposive sampling method from Mymensingh and Sylhet Districts. The main satisfaction sources those emerged from the content analysis were, in descending order of incidents: convenience, problem-solving, offer and discount, security and trust, and efficacy. On the other hand, complexity and network failure were the main reasons of customer dissatisfaction with mobile payment services. The findings of the multiple linear regression models revealed that age, education, monthly income and the residential area had a statistically significant effect on monthly e-commerce transactions over mobile payment services. Young people were more prone to use mobile payment services than older. People with higher education transacted less money over mobile payment services. Higher-income earner transacted more money over mobile payment services. People live in urban area used the services frequently and transacted more money. The service providers should increase their availability and more advertisements are required to be placed at every possible means of medium in order to aware people about mobile payment services. Building trust among the users and feel them secured are also crying need to develop this sector at a faster way in near future.

Keywords: Socioeconomic attributes, Transaction behavior, Customer experiences, Mobile payment services, Bangladesh

Location: Mymensingh and Sylhet district, Bangladesh

Start Date: 00-03-2002

End Date: 00-04-2002

Program Area: Socio-economic and Policy

Commodity: Business, Communication media

Objectives:

To explore the influencing factors of ecommerce transaction through mobile payment services and to investigate the customer experiences with MPS.

Methodology:

Study area and sampling: Mymensingh and Sylhet district, which also reflect the divisional attributes since both are the division headquarter, were selected purposively because of its various groups of the population involved in the usage of online and offline payment procedures. A huge number of shopping complexes, retail shop and chain shop are available in those two districts. To capture the socioeconomic attributes of users properly, purposive sampling; a non-probability sampling technique was used to select the respondents. The respondents were the customer of Mobile Payment Services (MPS) especially the users of bKash, Rocket, Nagad and Sure Cash. The total sample size was 240; equally from two districts based on age and gender. Data administration: A standard interview schedule was developed and pre-tested with a small sample including age group 15-24 and 25-34 of Mymensingh district to identify and eliminate any possible issues prior to administrating the survey, such as whether the questions are worded clearly, understood, and placed in the best order, or whether additional or specifying questions are needed or whether some questions should be eliminated (Pinsonneault and Kraemer, 1993). The firsthand information was collected from the consumer of MPS users, which was gathered during the field survey from March to April in 2020. Data were collected through the face-to-face interview method. The questions were asked sequentially and in an easy and simple manner in order to the convenience of the respondents. After each interview, the filled schedule were checked carefully in order to minimize errors. The data of each and every interview were rechecked to ensure reliability and consistency with the aims and objectives of the study. The collected data were scrutinized and summarized carefully before the actual tabulation. Accordingly, data were entered into excel sheet and cleaning was made to ensure the accuracy of the data entry. In order to measure the relationship between the independent and dependent variables a multiple regression analysis was used. The multiple regression model for this study was as follows: Y = a + ß₁X₁ + ß₂X₂ + ß₃X₃ + ß₄X₄ + ß₅X₅ + ß₆X₆ + ß₇X⁷ + ei Where, Y: Monthly e-commerce transaction over MPS; X1: Gender; X₂: Religion; X₃: Age (Years); X₄: Level of education (Years); X₅: Income (BDT/Month); X₆: Marital Status; X₇: Residential area; ei: Unobserved Variables; a = constant; and ß = is the coefficient on all of the predictor variables.

Source of Information: The Bangladesh Journal of Agricultural Economics, 42(1): 37-54, 2021

Article Link (Online Journal):

Funding Source:

Budget:

Total Budget (Tk.) :

Achievement/Findings:

Bangladesh is experiencing rapid growth in mobile financial service sector which is needed to be continued. Result indicated that the social, economic and demographic characteristics such as age, education, income and residential area showed significant influence over the monthly MPS transaction behavior of the respondents in Bangladesh. The satisfaction and dissatisfaction were identified with the help of content analysis. The study revealed that users are satisfied with mobile payments; significantly more study participants chose to describe a positive experience with a specific mobile payment solution as it is convenient, having the problem-solving capability, provide offer and discount, trust ability and efficacy in using MPS. The service providers should take the satisfaction and dissatisfaction sources in account and appropriate measures should be taken under policy guidelines. More advertisements are required to be placed at every possible means of the medium in order to aware people about MPS, building trust among the users and feel them that MPS is a secured medium of transferring their valuable money. It is therefore needed a continuous public awareness program and consumer education on the invariability of MPS usage to facilitate the attainment of a cashless society in Bangladesh.

Knowledge Management: Journal