Mobile Money Security in Uganda: A Quantitative Study
A recent study conducted among registered mobile money (MM) users, agents, and IT officers in Uganda has shed light on the key security issues associated with mobile money systems in the country.
Convenience and Reliability of Mobile Money Services
The study found that:
- 70.4% of respondents strongly agreed that mobile money provides a convenient way to send and receive money to anyone who owns a mobile phone or has access to a mobile money agent.
- 61.9% of respondents strongly agree that mobile money is more reliable than physically transporting money.
Top Services Performed Using Mobile Money
The study revealed that the top services performed using mobile money include:
- Sending and receiving money within Uganda (24.6%)
- Withdrawing cash (21.0%)
- Paying for telecom network services (16.5%)
Methodology
The study’s authors used structured questionnaires to gather data from registered MM users, agents, and IT officers in Uganda. The questionnaires were designed to assess the opinions of respondents on security issues associated with mobile money systems, as well as their demographic characteristics.
Reliability Analysis
According to Cronbach, if Alpha coefficient values are above 0.7, then the variables are considered satisfactory for the research. As shown in Appendix A, Table A1, four variables have been found to be satisfactory, with Cronbach alpha scores ranging from 0.71 to 0.83.
Findings and Implications
The study’s findings suggest that mobile money services provide numerous benefits to users, including convenience and reliability. However, it also highlights the need for increased security measures to mitigate potential risks associated with these services.
Data Analysis
The data were analyzed using RStudio software, with statistical techniques such as descriptive analysis, graphing, and Pearson Chi-Square tests used to examine the relationships between demographic variables and mobile money systems’ security challenges.
Conclusion
Overall, this study provides valuable insights into the use of mobile money in Uganda and highlights the importance of addressing security concerns to ensure the continued growth and development of these services.