{"title":"Frugal financial innovations for inclusive finance: the experience with customer care at M-Pesa in Kenya","authors":"Lukas Wellen, M. P. Dijk","doi":"10.3362/1755-1986.00016","DOIUrl":null,"url":null,"abstract":"A well-functioning and inclusive financial sector in developing countries is important for economic development. A mobile payment revolution has been taking place in Africa and allows frugal financial innovations for inclusive finance. This paper looks at the experience of M-Pesa in Kenya and in particular how they deal with customer care. Not enough use is made of the field agents and of customer segmentation (the low-income customers in particular deserve more attention), while customer care and operations can also be improved. Suggestions are made for how to do so and conclusions drawn about the strong points of this potentially frugal financial innovation. M-Pesa is helping people to become ‘financially included’ and tries to learn from customer satisfaction research.","PeriodicalId":39025,"journal":{"name":"Enterprise Development and Microfinance","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2018-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.3362/1755-1986.00016","citationCount":"6","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Enterprise Development and Microfinance","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.3362/1755-1986.00016","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"Social Sciences","Score":null,"Total":0}
引用次数: 6
Abstract
A well-functioning and inclusive financial sector in developing countries is important for economic development. A mobile payment revolution has been taking place in Africa and allows frugal financial innovations for inclusive finance. This paper looks at the experience of M-Pesa in Kenya and in particular how they deal with customer care. Not enough use is made of the field agents and of customer segmentation (the low-income customers in particular deserve more attention), while customer care and operations can also be improved. Suggestions are made for how to do so and conclusions drawn about the strong points of this potentially frugal financial innovation. M-Pesa is helping people to become ‘financially included’ and tries to learn from customer satisfaction research.
期刊介绍：
EDM encourages critical thinking on how market systems can be more inclusive and sustainable, with concrete implications for designing, implementing, and evaluating business support programmes. EDM is essential reading for practitioners, researchers, donors, policymakers, and finance specialists engaged in market-related activities involving poor people in the global South. The coverage includes but is not restricted to: • Financial inclusion (inclusive financial services and products) • Emerging financing models (impact investment, responsible finance, social lending) • Value chain analysis and development • Inclusive business models • Equity (gender, youth, marginalized) in access to financial services and value chains • Political and regulatory framework for SME development and financial services • ICT for business development and financial services • Sustainability standards • Advisory services for SMEs • Impact assessment.
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