Abstract:
The proliferation of mobile phones in Ghana has given room for the telecommunication networks to innovate new products and services to provide value for their customers in the Ghanaian market. Mobile money is one of such innovations by the telecom industry in Ghana. Although mobile phone adoption and usage has been increasing in Ghana, the same cannot be said about mobile money adoption and usage intentions among customers. Coupled with the low rate of adoption of mobile money, much studies has not be done on it, although a lot of studies has been done on other IT and IS innovations. The study was quantitative and used a cross-sectional survey to sampled 300 (representing 97% response rate) respondents using structured questionnaires that were adapted from other researchers in the area of adoption and behavioural intentions. The data was anlysed using structural equation modeling (i.e. the partial least square method).The results of the study revealed that users of mobile money still use the services for traditional purpose of buying, sending and receiving money. The study revealed that factors that significantly lead to the adoption of mobile money services were perceived cost of use, perceived ease of use, perceived trust, perceived usefulness and social influence. Social influence though was one of the adoption, it insignificantly did not moderate the relationship between adoption factors of perceived risks, relative advantage and perceived trust. Theoretically, the study fills the gap that studies on mobile money services are few. This study therefore provide implication for marketing management in the telecommunication industry on the creating of much awareness on the services mobile money can perform.
Key words: Perceived cost of use, perceived usefulness, social influence, perceived trust, perceived usefulness, mobile money services
