Unveiling the Drivers of Customers’ Loyalty Toward Mobile Money Service Providers Based on SEM: A Clarion Call for Industry Players Survival

Enock Mintah Ampaw; Albert Adu-Sackey; Stephen Eduafo; Olivia Osei-Tutu; Nborlem Mark Nte-Adik

doi:doi:10.11648/j.ijtam.20220805.12

| Peer-Reviewed

Unveiling the Drivers of Customers’ Loyalty Toward Mobile Money Service Providers Based on SEM: A Clarion Call for Industry Players Survival

Enock Mintah Ampaw, Albert Adu-Sackey, Stephen Eduafo, Olivia Osei-Tutu, Nborlem Mark Nte-Adik

Published in International Journal of Theoretical and Applied Mathematics (Volume 8, Issue 5)

Received: 22 September 2022 Accepted: 24 October 2022 Published: 4 November 2022

Views: Downloads:

Download PDF

Share This Article

Twitter
Linked In
Facebook

Abstract

The present study aims at exploring the antecedents of customers’ behavioral intention in the mobile money service industry to enhance industry players’ competitive edge and financial inclusion value co-creation in Ghana. A total of four hundred and seventeen (417) respondents were contacted via social media platforms for the study. AMOS graphics and IBM SPSS were used to analyzed the data. The findings of the study reveal that perceived quality and security are the most significant precursors of mobile money subscribers’ satisfaction and loyalty drive. Satisfaction was also observed to have a significant positive effect on both brand equity and brand trust. The study further reveals that satisfaction mediate between perceived quality and security to positively impact subscribers’ loyalty. Studies exploring subscribers’ behavioral intentions towards mobile money service providers to the best of our knowledge still remains a major gap in extant literature. Thus, the present study extends knowledge on mobile money services and financial inclusion in general by providing a schema for mobile money service providers to tailor their services to meet the expectations of subscribers whiles enhancing their competitive edge.

Published in	International Journal of Theoretical and Applied Mathematics (Volume 8, Issue 5)
DOI	10.11648/j.ijtam.20220805.12
Page(s)	96-111
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2022. Published by Science Publishing Group

Keywords

Mobile Money, Financial Inclusion, Service Quality, Loyalty, Financial Technology, SEM

References

[1]	Aaker, D. A. (1991). Managing Brand Equity: Capitalizing on the Value of a Brand Name. The Free Press, New York. 15.
[2]	Anand, S. K. & Kuldip, S. C. (2013). A Theoretical and Quantitative Analysis of Financial Inclusion and Economic Growth. Managemet and Labour Studies, 38 (1&2), 103-133.
[3]	Ampaw, M. E., Adu-Sackey, A., Baffoe, S., Frempong, J., Nborlem, M. N. A, & Azaare, J., (2021), “More than one road leads to Rome; Understanding the complex behavioral solutions of mobile money clientile from the lens of fsQCA”, International Journal of Technology and Managemnet Research, 6 (2012).
[4]	Ayo, C., Oni, A., Adewoye, O. & Ibukun, E. (2016). E-banking users’ behabiour, e-services quality, attitude, and customers satisfaction. International Journal of Bank Marketing, 34 (33), 347-367.
[5]	Bank of Ghana (2017), The Impact of Mobile Payment Systems, available at: https://www.bog.gov.gh/privatecontent/Speeches/SPEECH%20DELIVERED%20BY%20DR.%20ERNEST%20ADDISON,%20GOVERNOR,%20AT%20THE%20LAUNCH%20OF%20MOBILE%20MONEY%20INTEROPERABILITY%20PHASE%20II.pdf. (accessed 5 December 2018).
[6]	Kudu, E., Opoku, A., Gbohonyo, E., & Tayi, M. A. K (2022), “Mobile money transactions and banking sector performance in Ghana”, Heliyon, 8 (2022).
[7]	Bollen, K. A. (1989). Structural Equations with Latent Variables. John Wiley & Sons. New York.
[8]	Bongomin, G., Ntayi, J., Munene, J., & Malinga, C. (2018). Mobile Money and Financial Inclusion in sub-Saharan Africa: the Moderating Role of Social Network. Journal of African Studies, 19 (3), 361-387.
[9]	Ampaw, M. E., Nborlem, M. N. A., Azaare, J., Adu-Sackey, A., Essah, O. B., and Amuzu, Godwin (2022), “Embracing mobile financial inclusion in the wake of Covid-19 pandamic: The mediating role of cognitive and affectice-based trust embeddedness”, International Journal of Technology and Management Research, 7 (2022).
[10]	Byrne, B. M. (2001). Structural Equation Modeling with AMOS: Basic Concepts, application, and programming.
[11]	CGAP Report on Mobile Money (2018), available at: http://www.cgap.org/about/faq/who-are-2-billion-unbanked-adults-globally (accessed 11 July 2018).
[12]	Chathoth, P. K., Altinay, L., Harrington, R. J., Okumus, F., & Chan, E. S. W. (2013). Co-production versus co-creation: a process based continuum in the hotel service context. International Journal of Hospitality Management, 32 (1), 11–20.
[13]	Chaudhuri, A. & Holbrook, M. B. (2001). The Chain of Effects from Brand Trust and Brand Affect to Brand Performance: The Role of Brand Loyalty. J. Mark., 6, 81–93.
[14]	Chemingui, H. & Iallauna, H. (2013). Resistance, motivations, trust and intention to use mobile finance services. International Journal of Bank Marketing, 31 (7), 121-130.
[15]	Chen, Y. S. (2010). The Drivers of Green Brand Equity: Green Brand Image, Green Satisfaction, and Green Trust. J. Bus. Eth., 93, (2), 307-319. Available online at: https://link.springer.com/article/10.1007%2Fs10551-009-0223-9 (accessed 30 September 2018).
[16]	Chipeta, C. & Muthinja, M. M. (2018). Financial innovations and bank performance in Kenya: Evidence from branchless banking models. South African Journal of Economic and Management Sciences, 21 (1), 1-11.
[17]	Choudhury, K. (2013). Service quality and Customers’ purchase intention: an empirical study of the Indian banking sector. International Journal of Bank Marketing, 31 (7), 29-543.
[18]	Cronin, J. & Taylor, S. (1992). Measuring Service Quality: A Re-examination and Extension. J. Mark., 56, 55–65.
[19]	Davies, G., Chun, R., & Kamins, M. A. (2010). Reputation Gaps and the Performance of Service Organizations. Strateg. Manag. J., 31, 30–546.
[20]	Demirguc-Kunt, A., Klapper, L., Singer, D. & Oudheusden, P. V. (2014), The Global Findex Database 2014: Measuring Financial Inclusion around the World, World Bank.
[21]	Demirgüc-Kunt, A., & Klapper, L. (2013), Measuring ﬁnancial inclusion: Explaining variation across and within countries. Brookings Papers on Economic Activity, 1 (1), 41.
[22]	Dlacic, J. & Kezman, E. (2016). Exploring Relationship Between Brand Equity and Customer Loyalty on Pharmaceutical Market. J. Econ. Bus. Rev., 16, 121–131.
[23]	Doney, P. M., & Cannon, J. P. (1997). An Examination of the Nature of Trust in Buyer-Seller Relationships. J. Mark., Vol. 61, 35–51.
[24]	Fornell, D. F. & Larcker, C. (1981). Evaluating structural equation models with unobservable variables and measurements error. J. Mark. Res., 18, 39–50.
[25]	Gao, L., Waechter, K. A. and Bai, X. (2015). Understanding Consumers’ Continuance Intention towards Mobile Purchase: A theoretical framework and Empirical Study – A case of China. Comput. Human Behav., 53, 249–262.
[26]	Gahigi, K. (2017). Mobile Money is only starting to transform some of Africa’s Markets, Available online at: https://qz.com/africa/1039896/m-pesa-mtn-orange-others-lead-africas-mobile-money-revolution/ (accessed 10 July 2018).
[27]	Ghanaweb (2018). Mobile Money Interoperability Launching. Available online at: https://www.ghanaweb.com/GhanaHomePage/business/Bawumia-launches-phase-II-of-Mobile-Money-Interoperability-704474 (accessed December 2018).
[28]	Attah, R., (2022), “Credit for household in Ghana: Has mobile money (momo) improved inclusive access?”, Scientific Africa, 16 (2022).
[29]	Ghana Central Bank (2018). Mobile Money Accounts Outstrip Ghana’s Population”. Available online at: https://paemuka.com/mobile-money-accounts-outstrip-ghanas-population/ (accessed 10 June 2018).
[30]	Gommans, M., Krishnan, K. S., & Scheffold, K. B. (2001). From Brand Loyalty to E-loyalty: A Conceptual Framework. J. Econ. Soc. Res., 3, 43–58.
[31]	Seng, Kimty (2021), “The mobile money’s poverty-reducing promise: Evidence from Cambodia”, World Development Perspective, 22 (2021).
[32]	GSMA (2017), “Sub-Sahara Africa Driving Global Mobile Market”, Available online at: https://www.businesswire.com/news/home/20170711005846/en/GSMA-Sub-Saharan-Africa-Driving-Global-Market-Mobile (accessed 10 July2018).
[33]	GSMA (2018), “GSMA Intelligence Report”, Available online at: https://www.gsmaintelligence.com/research/?file=809c442550e5487f3b1d025fdc70e23b&download (accessed11 July 2018).
[34]	GSMA (2016). Success factors for Mobile Money Services : A quantitative Assessment of Success Factors. Available at: https://www.gsma.com/mobilefordevelopment/programme/mobile-money/success-factors-for-mobile-money-services-a-quantitative-assessment-of-success-factors/ (accessed 10 July 2018).
[35]	Gutierrez, E. & Choi, T. (2014). Mobile Money Services Development: The Cases of the Republic of Korea and Uganda. Policy Research Working Paper 6786, World Bank Publication.
[36]	Gwahula, R. (2016). Risks and Barriers Associated with Mobile Money Transactions in Tanzania. Bus. Manag. Strateg., 7, 121–139.
[37]	Hoeffler, S.& Keller, K. L. (2003). The Marketing Advantages of Strong Brands. J. Brand Manag., 10, 421–445.
[38]	Hoeffler, S., & Keller, K. L. (2002). Building Brand Equity Through Corporate Societal Marketing, J. Public Policy Mark., 21, 78–89.
[39]	Hu, L. T. & Bentler, P. (1999). Cutoff criteria for fit indexes in covariance structure analysis: Conventional Criteria Versus new alternative. Struct. Equ. Model, 6, 1–55.
[40]	Hsu, M. H., Chang, C. M., Chu, K. K., & Lee, Y. J. (2014). Determinants of Repurchase Intention in online Group-buying: The Perspectives of DeLone & McLean IS Success Model and Trust. Comput. Human Behav., 36, 234–245.
[41]	Iskandar, M., Pulungan, S. & Ujang, S. M. (2016). Effect of Brand Equity Dimension on Purchasing Behavior (Case Study: Aroma Bakery and Cake Shop in Medan). J. Mark. Consum. Res., 26, 32–38.
[42]	Jolliffe, I. T. (2002). Principal Component Analysis, 2nd ed. New York, Springer.
[43]	Kane, M. T. (2006). Current Concerns in Validity Theory. Journal of Educational Measurement. 38, 319-342.
[44]	Keller, K. L. & Davey, K. K. (2001). Building Customer‐Based Brand Equity. Advertising Research Foundation Workshop.
[45]	Keller, K. L. (1993). Conceptualizing, Measuring, and Managing Customer-Based Brand Equity. J. Mark, 57, 1–22.
[46]	Keller, K. L. (2003). Strategic Brand Management: Building, Measuring, and Managing Brand Equity. Prentice Hall, Upper Saddle River, New Jersey.
[47]	Kline, R. B. (2016), Principles and Practice of Structural Equation Modeling, 4th ed. New York: The Guildford Press.
[48]	Kim, H. W., Xu, Y. & Koh, J. (2004). A Comparison of Online Trust Building Factors Between Potential Customers and Repeat Customers. J. Assoc. Inf. Syst. 5 (10), 392–420.
[49]	Koning, A. J., & Franses, P. H. (2003). Confidence Intervals for Cronbach’s Coefficient Alpha Values: ERIM Report Series Reference.
[50]	Kotler, P., & Pfoertsch, W. (2007). Being Known or Being One of Many: The Need for Brand Management for Business-to-Business Companies. J. Bus. Ind. Mark. 22. 357–362.
[51]	Kotler, P. & Keller, K. L. (2012). Marketing Management, 14th ed. New Jersey: Prentice Hall.
[52]	Lalinthorn, M. and Vinai, P. (2017). Perceived quality, perceived risk, and customer trust affecting customer loyalty of environmentally friendly electronic products. Kasetsart Journal of Social Sciences, 38, 24-30.
[53]	Lee, S. (2007). Structural Equation Modeling: A Bayesian Modeling. Thousand Oaks, CA. Sage.
[54]	Liu, C. T., Guo, Y. M., & Le, E. H. (2011). The Effects of Relationship Quality and Switching Barriers on Customer Loyalty. Int. J. Inf. Manage., 31, 71–79.
[55]	Malinga, R. B., Gilbert, M., Peter, J. & Margret, K. (2017). Determinants of Mobile Money Services Adoption by Traders in Uganda. Int. J. Multidiscip. Res. Dev., 4 (8), 89–201.
[56]	Manon, A., Sandrine, P., Brun, I. & Lova, R. (2017). Mobile Banking service quality and customer retention. International Journal of Bank Marketing, 35 (7), 1068-1089.
[57]	Mbiti, I. & Weil, N. D. (2014). Mobile Money: The Impact of M-PESA in Kenya, NBER Working Paper No. 17129. Available at: https://www.nber.org/papers/w17129 (accessed 10 July 2018).
[58]	MTN Ghana (2018). The Performance of Mobile Money in Ghana. Available online at: https://mtn.com.gh/personal/mobile-money/about-mobile-money (accessed: 10 July 2018).
[59]	Moorman, C., Zaltman, G., & Deshpande, R. (1996). Relationships Between Providers and Users of Market Research: The Dynamics of Trust Within and Between Organizations. J. Mark. Res., 29, 314–328.
[60]	Morgan, R. M. & Hunt, S. D. (1994). The commitment-Trust Theory of Relationship Marketing, J. Mark., 54, 20–38.
[61]	Ampaw, M. E., Junwu, Chai, & Frempong, J., (2019), “Examining the overarching factors of clients’ loyalty based on mobile insurance typology”, South African Journal of Business Management, 1-14.
[62]	Muller, R. O. (1996). Basic Principle of Structural Equation Modeling: An Intro to LISREL and EQS. Springer-Verlag. New York.
[63]	Muroyiwa, O., Abratt, R., & Mingione, M. (2017). The effect of vertical brand extensions on consumer-brand relationship in South Africa. South African Journal of Business Management. 48, 1-10.
[64]	Akuffo, B., & Ampaw, M. E., (2023), “ An Autoregressive Intergrtaed Moving Average (ARIMA) Model for Ghana’s Inflation (1985-2018), Mathematical Theory and Modeling, 3 (3), 10-27.
[65]	H., Ahmed, & Cowen, B., (2021), “ Mobile money and healthcare use: Evidence from East Africa”, World Development, 141 (2021).
[66]	Nunnally, I. & Bernstein, J. (1994). Psychometric Theory, 3rd ed., McGraw-Hill, New York.
[67]	Parasuraman, A., Zeithaml, V. A., & Berry, L. L. (1988). SERVQUAL: A Multiple-item Scale for Measuring Consumer Perceptions of Service Quality. J. Retail., 64, 12–37.
[68]	Payne, A., Storbacka, K., & Frow, P. (2008). Managing the co-creation of value. Journal of the Academy of Marketing Science, 36 (1), 83–96.
[69]	PWC (2016). Is the rise of Pan-African banking the next big thing in sub-Saharan Africa?
[70]	Available online at: www.pwc.com/gx/en/issues/economy/global-economy-watch/rise- of- pan-african-banking, (accessed 20 October 2019).
[71]	Russo, I., Confente, I. Gligor, D. M. & Autry, C. W., (2016). To be or not to be (loyal): Is there a recipe for customer loyalty in the B2B context?. J. Bus. Res., 69, 888–896.
[72]	Severi, E., Kwek, C, L., & Nasermoadeli, A. (2015). The Impacts of Electronic Word of Mouth on Brand Equity in the Context of Social Media. Int. J. Bus. Manag., 9, 84–96.
[73]	Shaikh, A. & Karjaluoto, H. (2015). Mobile banking adoption: a literacy review. Telematics and Informatics, 32 (1), 129-142.
[74]	Shampy, K., Bijoylaxmin, S., Shivan, G., & Yogesh, D. (2018). Examining branding co-creation in brand communities on social media: Applying the paradigm of stimulus-organism-response. International Journal of Information Management, 39, 169-185.
[75]	Shem, A. O., Teresa, M. & Maureen, W. (2017). Mobile ﬁnancial Services and Financial Inclusion : Is It A Boon for Savings Mobilization?. Rev. Dev. Econ., 7, 29–35.
[76]	Spiros, P. G. (2005). Trust and commitment influences on customer-to-business services. Journal of Busness Research, 58, 126-140.
[77]	Steiger, J. H. (1990). Structural Equation Evaluation and Modification: An interval estimation approach. Multivar. Behavoral Res. 23, 173–180.
[78]	Sung, Y. & Kim, J. (2010). Effects of Brand Personality on Brand Trust and Brand Affect, Psychol. Mark., 27, 639–661.
[79]	Thompson, B. (2004). Exploratory and Confirmatory Factor Analysis. American Psychological Association, Washington, DC.
[80]	Toni, D., Mallat, N., & Agnieszka, Z. (2008). Past, Present and Future of Mobile Payments Research: A literature Review. Electron. Commer. Res. Appl. 7, 165–181.
[81]	Van, R., Streukens, S. & De Mortanges, P. (2005). Marketing Antecedents of Industrial Brand Equity: An Empirical Investigation in Specialty Chemicals. Ind. Mark. Manag. 34 (8), 841–847.
[82]	Venkatesh, V., Xu, X., & Thong, J. (2012). Consumer Acceptance and Use of Information Technology: Extending the Unified Theory of Acceptance and Use of Technology, MIS. Q., 36, 157-178.
[83]	Wang, S. W., Ngamsiriudom, W. & Hsieh, C. (2015). Trust Disposition, Trust Antecedents, Trust, and Behavioral Intention. Serv. Ind. J., 35, 555–572.
[84]	World Bank (2018). Financial Inclusion n the Rise (2018) Available online at: http://www.worldbank.org/en/news/press-release/2018/04/19/financial-inclusion-on-the-rise-but-gaps-remain-global-findex-database-shows (accessed 10 July 2018).
[85]	Xu, C., Peak, D., & Prybutok, V. (2015). A customer Value, Satisfaction, and loyalty Perspective of Mobile Application Recommendations. Decis. Support Syst., 79, 171–183.
[86]	Yang, Q., Pang, C., Liu, L., Yen, D. C., & Tarn, J. (2005). Exploring Consumer Perceived Risk and Trust for Online Payments: An Empirical Study in China’s Younger Generation. Comput. Human Behav., 50, 9–24.
[87]	Zeithaml, V. A. (1993). Consumer Perception of Price Quality and Value: A Mean-end Model and Synthesis of Evidence. J. Mark., 52, 2–22.
[88]	Zeithaml, Z. A., Berry, L. L., & Parasuraman, A. (1996). The Behavioral Consequences of Service Quality. J. Mark., 60, 31–46.
[89]	Zhang, M., Huang, L., He, Z., and Wang, A. G. (2015). E-service Quality Perceptions: An Empirical Analysis of the Chinese E-retailing Industry. Total Qual. Manag. Bus. Excell., Vol. 26, 1357–1372.

Cite This Article

Plain Text BibTeX RIS

APA Style

Enock Mintah Ampaw, Albert Adu-Sackey, Stephen Eduafo, Olivia Osei-Tutu, Nborlem Mark Nte-Adik. (2022). Unveiling the Drivers of Customers’ Loyalty Toward Mobile Money Service Providers Based on SEM: A Clarion Call for Industry Players Survival. International Journal of Theoretical and Applied Mathematics, 8(5), 96-111. https://doi.org/10.11648/j.ijtam.20220805.12

Copy | Download

ACS Style

Enock Mintah Ampaw; Albert Adu-Sackey; Stephen Eduafo; Olivia Osei-Tutu; Nborlem Mark Nte-Adik. Unveiling the Drivers of Customers’ Loyalty Toward Mobile Money Service Providers Based on SEM: A Clarion Call for Industry Players Survival. Int. J. Theor. Appl. Math. 2022, 8(5), 96-111. doi: 10.11648/j.ijtam.20220805.12

Copy | Download

AMA Style

Enock Mintah Ampaw, Albert Adu-Sackey, Stephen Eduafo, Olivia Osei-Tutu, Nborlem Mark Nte-Adik. Unveiling the Drivers of Customers’ Loyalty Toward Mobile Money Service Providers Based on SEM: A Clarion Call for Industry Players Survival. Int J Theor Appl Math. 2022;8(5):96-111. doi: 10.11648/j.ijtam.20220805.12

Copy | Download

@article{10.11648/j.ijtam.20220805.12,
  author = {Enock Mintah Ampaw and Albert Adu-Sackey and Stephen Eduafo and Olivia Osei-Tutu and Nborlem Mark Nte-Adik},
  title = {Unveiling the Drivers of Customers’ Loyalty Toward Mobile Money Service Providers Based on SEM: A Clarion Call for Industry Players Survival},
  journal = {International Journal of Theoretical and Applied Mathematics},
  volume = {8},
  number = {5},
  pages = {96-111},
  doi = {10.11648/j.ijtam.20220805.12},
  url = {https://doi.org/10.11648/j.ijtam.20220805.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijtam.20220805.12},
  abstract = {The present study aims at exploring the antecedents of customers’ behavioral intention in the mobile money service industry to enhance industry players’ competitive edge and financial inclusion value co-creation in Ghana. A total of four hundred and seventeen (417) respondents were contacted via social media platforms for the study. AMOS graphics and IBM SPSS were used to analyzed the data. The findings of the study reveal that perceived quality and security are the most significant precursors of mobile money subscribers’ satisfaction and loyalty drive. Satisfaction was also observed to have a significant positive effect on both brand equity and brand trust. The study further reveals that satisfaction mediate between perceived quality and security to positively impact subscribers’ loyalty. Studies exploring subscribers’ behavioral intentions towards mobile money service providers to the best of our knowledge still remains a major gap in extant literature. Thus, the present study extends knowledge on mobile money services and financial inclusion in general by providing a schema for mobile money service providers to tailor their services to meet the expectations of subscribers whiles enhancing their competitive edge.},
 year = {2022}
}

Copy | Download

TY  - JOUR
T1  - Unveiling the Drivers of Customers’ Loyalty Toward Mobile Money Service Providers Based on SEM: A Clarion Call for Industry Players Survival
AU  - Enock Mintah Ampaw
AU  - Albert Adu-Sackey
AU  - Stephen Eduafo
AU  - Olivia Osei-Tutu
AU  - Nborlem Mark Nte-Adik
Y1  - 2022/11/04
PY  - 2022
N1  - https://doi.org/10.11648/j.ijtam.20220805.12
DO  - 10.11648/j.ijtam.20220805.12
T2  - International Journal of Theoretical and Applied Mathematics
JF  - International Journal of Theoretical and Applied Mathematics
JO  - International Journal of Theoretical and Applied Mathematics
SP  - 96
EP  - 111
PB  - Science Publishing Group
SN  - 2575-5080
UR  - https://doi.org/10.11648/j.ijtam.20220805.12
AB  - The present study aims at exploring the antecedents of customers’ behavioral intention in the mobile money service industry to enhance industry players’ competitive edge and financial inclusion value co-creation in Ghana. A total of four hundred and seventeen (417) respondents were contacted via social media platforms for the study. AMOS graphics and IBM SPSS were used to analyzed the data. The findings of the study reveal that perceived quality and security are the most significant precursors of mobile money subscribers’ satisfaction and loyalty drive. Satisfaction was also observed to have a significant positive effect on both brand equity and brand trust. The study further reveals that satisfaction mediate between perceived quality and security to positively impact subscribers’ loyalty. Studies exploring subscribers’ behavioral intentions towards mobile money service providers to the best of our knowledge still remains a major gap in extant literature. Thus, the present study extends knowledge on mobile money services and financial inclusion in general by providing a schema for mobile money service providers to tailor their services to meet the expectations of subscribers whiles enhancing their competitive edge.
VL  - 8
IS  - 5
ER  -

Copy | Download

Author Information

Enock Mintah Ampaw

Applied Mathematics Department, Faculty of Applied Science and Technology, Koforidua Technical University, Koforidua, Ghana
Albert Adu-Sackey

Applied Mathematics Department, Faculty of Applied Science and Technology, Koforidua Technical University, Koforidua, Ghana
Stephen Eduafo

Department of Mathematics, Accra Institute of Technology, Accra, Ghana
Olivia Osei-Tutu

Department of Mathematics, Valley View University, Oyibi, Ghana
Nborlem Mark Nte-Adik

Medical Records Department, Assemblies of God Hospital, Saboba, Ghana

Download PDF

Sections

Plain Text BibTeX RIS

APA Style

Enock Mintah Ampaw, Albert Adu-Sackey, Stephen Eduafo, Olivia Osei-Tutu, Nborlem Mark Nte-Adik. (2022). Unveiling the Drivers of Customers’ Loyalty Toward Mobile Money Service Providers Based on SEM: A Clarion Call for Industry Players Survival. International Journal of Theoretical and Applied Mathematics, 8(5), 96-111. https://doi.org/10.11648/j.ijtam.20220805.12

Copy | Download

ACS Style

Enock Mintah Ampaw; Albert Adu-Sackey; Stephen Eduafo; Olivia Osei-Tutu; Nborlem Mark Nte-Adik. Unveiling the Drivers of Customers’ Loyalty Toward Mobile Money Service Providers Based on SEM: A Clarion Call for Industry Players Survival. Int. J. Theor. Appl. Math. 2022, 8(5), 96-111. doi: 10.11648/j.ijtam.20220805.12

Copy | Download

AMA Style

Enock Mintah Ampaw, Albert Adu-Sackey, Stephen Eduafo, Olivia Osei-Tutu, Nborlem Mark Nte-Adik. Unveiling the Drivers of Customers’ Loyalty Toward Mobile Money Service Providers Based on SEM: A Clarion Call for Industry Players Survival. Int J Theor Appl Math. 2022;8(5):96-111. doi: 10.11648/j.ijtam.20220805.12

Copy | Download

@article{10.11648/j.ijtam.20220805.12,
  author = {Enock Mintah Ampaw and Albert Adu-Sackey and Stephen Eduafo and Olivia Osei-Tutu and Nborlem Mark Nte-Adik},
  title = {Unveiling the Drivers of Customers’ Loyalty Toward Mobile Money Service Providers Based on SEM: A Clarion Call for Industry Players Survival},
  journal = {International Journal of Theoretical and Applied Mathematics},
  volume = {8},
  number = {5},
  pages = {96-111},
  doi = {10.11648/j.ijtam.20220805.12},
  url = {https://doi.org/10.11648/j.ijtam.20220805.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijtam.20220805.12},
  abstract = {The present study aims at exploring the antecedents of customers’ behavioral intention in the mobile money service industry to enhance industry players’ competitive edge and financial inclusion value co-creation in Ghana. A total of four hundred and seventeen (417) respondents were contacted via social media platforms for the study. AMOS graphics and IBM SPSS were used to analyzed the data. The findings of the study reveal that perceived quality and security are the most significant precursors of mobile money subscribers’ satisfaction and loyalty drive. Satisfaction was also observed to have a significant positive effect on both brand equity and brand trust. The study further reveals that satisfaction mediate between perceived quality and security to positively impact subscribers’ loyalty. Studies exploring subscribers’ behavioral intentions towards mobile money service providers to the best of our knowledge still remains a major gap in extant literature. Thus, the present study extends knowledge on mobile money services and financial inclusion in general by providing a schema for mobile money service providers to tailor their services to meet the expectations of subscribers whiles enhancing their competitive edge.},
 year = {2022}
}

Copy | Download

TY  - JOUR
T1  - Unveiling the Drivers of Customers’ Loyalty Toward Mobile Money Service Providers Based on SEM: A Clarion Call for Industry Players Survival
AU  - Enock Mintah Ampaw
AU  - Albert Adu-Sackey
AU  - Stephen Eduafo
AU  - Olivia Osei-Tutu
AU  - Nborlem Mark Nte-Adik
Y1  - 2022/11/04
PY  - 2022
N1  - https://doi.org/10.11648/j.ijtam.20220805.12
DO  - 10.11648/j.ijtam.20220805.12
T2  - International Journal of Theoretical and Applied Mathematics
JF  - International Journal of Theoretical and Applied Mathematics
JO  - International Journal of Theoretical and Applied Mathematics
SP  - 96
EP  - 111
PB  - Science Publishing Group
SN  - 2575-5080
UR  - https://doi.org/10.11648/j.ijtam.20220805.12
AB  - The present study aims at exploring the antecedents of customers’ behavioral intention in the mobile money service industry to enhance industry players’ competitive edge and financial inclusion value co-creation in Ghana. A total of four hundred and seventeen (417) respondents were contacted via social media platforms for the study. AMOS graphics and IBM SPSS were used to analyzed the data. The findings of the study reveal that perceived quality and security are the most significant precursors of mobile money subscribers’ satisfaction and loyalty drive. Satisfaction was also observed to have a significant positive effect on both brand equity and brand trust. The study further reveals that satisfaction mediate between perceived quality and security to positively impact subscribers’ loyalty. Studies exploring subscribers’ behavioral intentions towards mobile money service providers to the best of our knowledge still remains a major gap in extant literature. Thus, the present study extends knowledge on mobile money services and financial inclusion in general by providing a schema for mobile money service providers to tailor their services to meet the expectations of subscribers whiles enhancing their competitive edge.
VL  - 8
IS  - 5
ER  -

Copy | Download