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

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.