An exploration of smartphone based mobile money applications in Pakistan

Abstract

Worldwide, two billion people remain unbanked, the majority of whom reside in resource-constrained environments. While banks have limited reach due to high overhead costs of physical expansion, the global increase in mobile penetration has created opportunities to serve the unbanked using mobile-based Digital Financial Services (DFS). However, access to mobile applications alone is insufficient to ensure their trial, adoption, or continued usage. In this paper, we report a three phase learnability evaluation (N=118) of smartphonebased mobile wallet applications conducted in Pakistan.We discuss ways in which previous exposure or domain knowledge improve learnability, and we recommend that metrics for learnability should include effectiveness and help sought, independent of usability. We also identify DFS adoption opportunities such as user readiness, interface improvements, and women's independence. All of these opportunities stem from awareness and understanding of relevance, which in our case occurred as a consequence of exposure to the application under evaluation.