The Basics of a Mobile Money-Based Financial Service: Perceptions of University Students in Nigeria

Abstract The purpose of this quantitative research was to investigate the basis and perception of mobile money (MM) service among Nigerian university students. The paper adopted a positivistic ontology and descriptive survey design. Two hundred and fifty students from five universities in the southeast geopolitical zone of Nigeria were sampled. Results showed that perceived ease of use (PEOU), perceived usefulness (PU), perceived credibility (PCRED), and perceived risk (PR) had significant and positive relationship with behavioral intention. Given the results, these four fundamental issues must be central to inclusive mobile money-based financial service for Nigerian university students. The adoption of the technology acceptance model (TAM) by mobile network operators (MNO) and banks is critical to ensure acceptance of innovative and inclusive mobile-based financial service and success in the university student market.