59% bank customers ignorant of mobile money [Sun, The (Nigeria)]
(Sun, The (Nigeria) Via Acquire Media NewsEdge) …As unbanked Nigerians shun transaction
A number of challenges have been linked to the slow roll-out of the process; some of which include; lack of finance; lack of basic infrastructure and most importantly awareness; few agents, and the exclusion of mobile operators form leading the implementation of the service.
The survey, conducted by NOI polls, sought to determine the ratio of mobile money users with bank accounts to those without. Responses revealed that all the respondents that use mobile money services operate a bank account.
NOI Polls is Nigeria's leading Opinion Polling and Research Organisation which works in partnership with The Gallup Organisation (USA) to develop opinion research in Nigeria.
The poll, however, was conducted to explore the current level of awareness of mobile money services among Nigerians and to determine the present rate of adoption and potential for the future.
According to the results of the poll, only 13 per cent of those that are aware (49 per cent) of the services currently use it.
The poll also showed that an overwhelming majority (93 per cent) of those that use the service operate their mobile money account in connection with their bank accounts.
All the mobile money service users (13 per cent) are all banked showing little or no adoption of this service by the unbanked, the study noted.
A key finding of the study indicated a positive experience by the users, highlighting ease of use, security, cost saving and time saving as factors that enhance this experience.
In the report, about 7 in 10 (71 per cent) non-users say they would consider using mobile money services in the future.
The CBN introduced mobile money services to provide basic financial services and create payment access especially to Nigerians without bank accounts, as well as to help drive financial inclusion in the country.
The apex bank had issued licences to 16 companies to operate mobile money transactions all over the states in August 2011.
Analysis based on geo-political zones according to the study, showed that the South-South (54 per cent), South-West (46 per cent) and the North-Central (43 per cent) zones have the highest proportions of respondents who know of Mobile Money services.
Conversely, the North-East (70 per cent), South-East (64 per cent) and the North-West (63 per cent) zones account for the highest proportions of respondents not aware of the mobile services, among other findings by NOI Poll.
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