Risks and Barriers Associated with Mobile Money Transactions in Tanzania

Abstract

The study was about Risks and Barriers Associated with Mobile Money Transactions in Tanzania. The focal point of the study was to spot and reveal risks and barriers experienced by mobile money users in mobile money transactions (MMT) and the frequencies of their incidences. It also assesses the level of users' understanding and how they can avoid themselves from barriers and risks exposing environment. The research was based on primary data which was collected in a survey done in Ilala district through questionnaires. Data analysis was based on descriptive statistics and interpretation based on positivist assumptions in which the results were quantitative and independent from the researcher. The research findings reveal that while the most likely experienced risks are a loss of password, fake transaction request, and fake money, the barriers are a poor network, agent lack liquidity, and lack of identity card. However, the rate of incidence of risks and barriers in MMT are moderates. The study, therefore, recommend that the regulatory authority should guarantee the security of mobile money users by improving MMT rules and regulations, they should also stress mobile companies to create MMT awareness in risks, rules and regulations to mobile money users to encourage their participation in this industry and finally the mobile company should improve mobile money network infrastructures and application platforms.