Fintech adoption in Pakistan: Mobile Wallet Service (MWS) over GDP causality evidence for pre and post COVID-19
Yükleniyor...
Dosyalar
Tarih
2023
Yazarlar
Latif, Muhammad Nouman
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Kinnaird College for Women
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
This paper aims to analyze the use of mobile wallet services in Pakistan and how they affect both the economy and people's daily lives. Socioeconomically disadvantaged households in Pakistan will swiftly use mobile wallet services due to the increasing adoption of technology. Socioeconomic considerations are the most commonly used criterion for determining whether someone is underbanked or unbanked. We used data on mobile wallet services (MWS) and GDP from the State Bank of Pakistan for the period of 2013 to 2022. We conducted a causality test to ascertain the relationship between Pakistan's GDP and mobile wallet service. We discovered that the relationship between mobile wallet service and GDP is unidirectional. We then conducted an ordinary least square regression analysis, and the findings showed a positive correlation between GDP and mobile wallet service, confirming the causality. Because it is incredibly user-friendly and convenient for clients, it demonstrates that this service attracts attention from the public. Many low-income individuals use it, especially during the COVID-19 pandemic, as opposed to using standard banking systems. We recommend that financial literacy initiatives be taken seriously in order to promote equal financial inclusion in the economy. Mobile wallet users should be encouraged to keep using the service in order to aid the government in revenue mobilization. Additionally, it prevents the movement of illicit funds or fraudulent activity in the financial sector.
Açıklama
Anahtar Kelimeler
Mobile Wallet Services, Causality, COVID-19, Economic Growth, Financial Inclusion
Kaynak
Journal of Research & Reviews in Social Sciences Pakistan
WoS Q Değeri
Scopus Q Değeri
Cilt
6
Sayı
1
Künye
Latif, M. N. ve Özcan, R. (2023). Fintech adoption in Pakistan: Mobile Wallet Service (MWS) over GDP causality evidence for pre and post COVID-19. Journal of Research & Reviews in Social Sciences Pakistan, 6(1), 1999-2011.
