Effectiveness of mobile financial services: a case study of vodacom M-pesa in Tanzania

The study revealed that perceived usefulness and awareness influences customers intention toward adopting mobile money. It has been found that mobile financial services are used to transfer funds, purchase Mobile Top ups, paying Mobile Phone Bills, paying utility bills and review mini financial statements, this means the service can be used to address micro financial attentions which have an impact in the majority of users and therefore complimenting the normal banking services. Theoretical contributions of the findings are discussed and suggestions for future research are presented. The study recommend to Vodacom (T) Ltd to develop a service design that will address adoption barriers such as poor network connectivity, security and service availability and significant investment in marketing and agent network management. Furthermore Vodacom need to consider adjusting M‐PESA’s current pricing model to make it work for smaller‐denomination transactions.