Abstract
It has been frequently shown that the proximity of households to mobile money agents is a decisive factor for the adoption of mobile money. However, merely measuring the distance to agents overshadows the fact that agents are a heterogenous group, offering different services and abilities to costumers; differences, which could affect mobile money adoption. The present study therefore investigates, under the lens of the Technology Adoption Model (TAM), how agent characteristics affect mobile money adoption, using georeferenced data from a nationally representative Kenyan household survey and a census of all mobile money agents in Kenya. Results from logistic regressions show that people are statistically significantly more likely to adopt mobile money, if nearby agents offer account opening services, or if nearby agents have received formal training. The study further shows that agent training is particularly important for mobile money adoption among people without formal education. Considering that only 59 % of agents offer account opening services and only 58 % of the agents are formally trained, this article points towards a large potential for mobile money lenders and policy makers to foster financial inclusion in the future.
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