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Adejubee, Praise Oladimeji and Covenant University, Theses (2021) THE ROLE OF FINANCIAL TECHNOLOGY IN FINANCIAL INCLUSION. Masters thesis, Covenant University Ota..

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With the potential for higher level of ICT and financial inclusion, it is important to explore how FinTech and Financial Inclusion integrate. Thus, this study explored if there was a significant relationship between smartphone penetration and the usage of PFFS as well as if there was a significant role internet penetration played on PFFS. This study used a questionnaire as its source of primary data. The study employed Pearson’s Coefficient, Chi Square and T-Test in its analysis. The following findings were established: (i) Internet connection was just at average but plays a major role in the use of PFFS and respondents usually made use of the internet to make payments. (ii) Access to smartphones moderately affected the usage of OPay as a payment platform. (iii) Proximity to mobile agent services affected the access to payment services of OPay. (iv) Services provided by the PFFS were easy to understand and little effort was needed to use the payment service. Findings also showed that the payment offerings (financial services) of OPay met the needs of respondents. In the lights of the established findings, this study recommends that FinTech companies look to incorporate more synergistic working frameworks that would encourage an experience that would establish, more extensive financial benefits to the generality of people across all segments of the population, especially those who cannot use the existing financial technologies. Also, the government must look to provide stronger internet connections in suburban and rural areas, by working with internet service providers, to ensure that FinTech companies find it easy to provide financial services to all customers.

Item Type: Thesis (Masters)
Uncontrolled Keywords: Financial Inclusion, Financial Technology (FinTech), Payment Focused FinTech Solutions (PFFS), OPay, Smartphone Penetration, Internet Penetration, Mobile Service Agents
Subjects: H Social Sciences > HG Finance
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Mrs Patricia Nwokealisi
Date Deposited: 28 Oct 2021 13:39
Last Modified: 28 Oct 2021 13:39

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