Advances in mobile financial services: a review of the literature and future research directions

Abstract

PurposeUsing the theory, construct, method, moderator (TCMM) format, this framework-based review critically analyses the mobile financial services (MFSs) field through a detailed synthesis and analysis of a sample of mainstream empirical research published in various scientific journals within the period 2009–2020.Design/methodology/approachThe authors followed a three-step structured approach suggested by Webster and Watson (2002) to search for the literature to synthesise the global perspectives on MFSs and their associated applications and systems. The literature research resulted in the identification of 115 most relevant articles.FindingsThe authors identified three major categories or domains within the MFSs comprising the entire spectrum of digital financial services. To facilitate the literature analysis, TCMM is developed and proposed as an organising framework. Moreover, the authors also developed and presented the comprehensive framework of MFS domains and explicitly identified 14 different research themes for future research in MFSs.Originality/valuePrior attempts to synthesise and analyse mainstream academic research in MFSs have been scant and limited to a specific MFS domain: mobile banking or mobile payment. The authors synthesised a more extensive body of knowledge and provided a global perspective on the MFS field. Unlike the past literature reviews which followed traditional frameworks such as antecedents, decisions and outcome (ADO); TCCM; and 6 W Framework (who, when, where, how, what and why), the authors developed and proposed TCMM as organising framework.

Digital financial services usage and subjective financial well-being: evidence from low-income households in Malaysia

“…Hence, focusing on low-income households in terms of basic DFS usage and FB is believed to provide a valuable contribution toward understanding how developments in DFS have impacted the FWB of this vulnerable group. This idea is also reflected in Shaikh et al .’s (2022) recommendations that it is imperative to explore if advancements of mobile phone utilization can contribute to consumer well-being, especially among low-income households.…”

Customer Satisfaction and Intention to Use Mobile Financial Services: A Systematic Literature Review

“…The study follows prior SLR works done by Alkhowaiter (2020), Ardani et al (2019), Souiden et al (2020), Khadim andIslam (2022), andShaikh et al (2022) where deemed appropriate to search articles by the 'keyword'. The study used "Customer Satisfaction", "Customers Perception", "Continuance Intention", "Mobile Financial Services", and "Mobile Banking Services" as the keywords to conduct search for the relevant studies in the Scopus database.…”

“…For the faster growth of mobile financial services, researchers have shown their interest in this emerging sector on different issues such as factors affecting customers' adoption and behavior al intention of mobile financial services (Akhter et al, 2020;Baptista & Oliveira, 2017;De Leon, 2019;Gupta & Dhingra, 2022;Merhi et al, 2019;Sharma, 2019) at pre-adoption stage and customer satisfaction, experience, perception, and intention to use of MFS (AL-Zubi & Al-Gasawneh, 2022; Alkhawaldeh et al, 2022;Asnakew, 2020;Baabdullah et al, 2019;Foroughi et al, 2019;Geebren et al, 2021;Metlo et al, 2021) at the postadoption stage. Very few studies analyzed and synthesized studies on customer satisfaction and usage intention of mobile financial services (Kelly & Palaniappan, 2019;Khadim & Islam, 2022;Shaikh et al, 2022) by providing a comprehensive review of literatures. There is a lack of studies that focus on customer satisfaction and intention of using mobile financial services, which systematically review and analyses the existing literatures.…”

Exploring mobile banking service quality dimensions in Pakistan: a text mining approach

“…, 2021). Several definitions of m-banking have been proposed over time (Shaikh et al. , 2022; Tam and Oliveira, 2017).…”

“…(2022) is quite comprehensive and aptly captures the current way m-banking is being done. They define m-banking as “… is an innovative and cost-effective application of mobile commerce with extended capabilities, which is used virtually by bank account holders using web browser or downloadable mobile application on smartphones or tablet with Internet connectivity to access the traditional and value-added financial and non-financial services including funds transfer, investment advices, utility bills payment, balance enquiry, security alerts or notifications, new product or service promotion, conveniently anytime anywhere” (Shaikh et al. , 2022).…”