Digital Payments and Financial Wellbeing of the Rural Poor: The Moderating Role of Age and Gender

Abstract

This study aimed to evaluate the financial wellbeing experiences of digital payment systems in Ghana, an emerging economy, using a case study with special emphasis on gender and age. Quantitative data were obtained from customers and mobile money agents operating in two poor rural districts. The study established a significant positive connection between security and satisfaction, ease of use and satisfaction, and convenience and satisfaction in relation to digital payment systems in emerging markets. Also, customer satisfaction mediates trust and the digital payment experience of the poor. The findings also revealed that customer experience of digital payment systems differs based on gender and age categories. Males appeared to value ease of use rather than great customer experience, whereas females valued security over great customer experience. Great customer experience leads to stronger trust levels among female users than males. Also, younger users were more concerned with issues of convenience, while older customers placed a higher premium on security.

Keywords:

• Digital payment
• financial wellbeing
• Ghana
• rural poor