Use of mobile money and mobile payments: An inter-country comparison between Kenya and South Africa

The use of mobile money, mobile payments and other related mobile financial transactions in Africa vary from one country to another, as it is dependent on the level of technology maturity and development. The study investigates differences in usage patterns and diffusion of mobile money in day-to-day person-to-person money transfers using mobile telephone, mobile payments and integration of mobile transactions in the country’s financial services. The study also explores the difference in the underlying social and economic factors influencing use of mobile financial transactions between Kenya and South Africa. The study employs a survey questionnaire to collect data from respondents in each of the two countries. The differences unveiled provides important policy lessons for both countries in mobile financial transactions management as well as development of new and improvement of current mobile financial transactions’ products