Factors affecting the slow adoption rate of One Money at Net One in Zimbabwe
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Mobile financial services (MFS) are a recent development that is rapidly taking place in developing countries. The penetration of mobile financial services has been supported by rapid advances in wireless and mobile technologies in many countries across the globe and a number of developing countries. Mobile financial services adoption has been different from one country to another. Evidence shows that developed countries they have experienced faster mobile financial service adoption than other developing countries. This study investigated the factors affecting the slow adoption rate of OneMoney mobile financial services in Zimbabwe. The study hypothesises the following variables to have influence on the adoption of mobile financial service thus Perceived usefulness (PU), Perceived-ease-of-use (PEU), Perceived cost (PC), Perceived trust (PT), Perceived risk (PR) and Social influence. The construct validity of the measurement items was established by using principal axis factoring and the reliability was established by using Cronbach’s Alpha coefficient. The hypothesis was tested by using binary logistic regression analysis to investigate if there is a relationship between the independent and dependent variables. The sample size used 300 respondents. The study revealed that perceived-ease-of-use and perceived trust have a significant positive influence on the adoption of mobile financial services. Perceived risk and social influence were found to have a significant negative influence on the adoption of mobile financial services. It was also revealed that perceived cost has no significant influence in the adoption of mobile financial services.