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EFFECT OF MOBILE BANKING ON FINANCIAL PERFORMANCE OF COMMERCIAL BANKS IN TOWN, NIGERIA
Abstract: Around half of the world’s population is out of formal banking and financial services. For this reason, several mobile payment trend studies have revealed the potential of mobile network technologies for payment purposes. The main objective of the study was to assess the effect of mobile banking to financial performance of commercial banks in Town, Kenya. The specific objectives of the study were to evaluate the effect of perceived security of mobile payments technology on financial performance of commercial banks in Town, to determine the effect of perceived ease of accessibility of mobile payments technology on financial performance of commercial banks in Town and to determine the effect of transaction cost of mobile payment technology on financial performance of commercial banks in Town. The study used a sample of 255 respondents which was drawn from Operation Managers, clients, cashiers and 7 M-Pesa paying agents. The data collected were analyzed by use of descriptive statistics and inferential statistics with the help of Social Sciences version 21 software. The study found out that, perceived cost, perceived access and perceived security of mobile payments technology have a significant influence on the financial performance of commercial banks. The study concluded that the transaction cost of mobile payment is cheap, mobile banking money can be sent any time of day; it saves time of travelling and
that mobile banking transactions are processed in accordance with clients’ expectations besides providing evident of payment to another person.
Keywords: Craft, External equity, Financing, Growth, Microenterprise, Tabaka.