The Advantages and Disadvantages of Mobile Money on the Profitability of the Ghanaian Banking Industry
Over the years, the evolution of and use of
mobile phones and other mobile devices such as tablets has offered society the opportunity
to access financial services such as mobile money.
Mobile money allows one to transfer money or
make payments with their mobile phone, in the comfort of their location and in a
simple, fast, convenient and affordable way.
This research sought to determine the effect
of the evolution of mobile money services on traditional banking in Ghana.
The article showed that mobile money is a viable
tool for financial inclusion, it has improved efficiency of transactions, it has
initiated some changes in traditional banking and has a generally positive impact
on traditional banking in Ghana.
Keywords: Mobile Phone, Mobile Money Transfer, Financial Inclusion, Mobile Money
Subscribers, Ghanaian Economy, Threats, Business Activity, Payment Systems.
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