The impact of mobile payment systems on transaction efficiency in banking: a case study of AB Microfinance Bank
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Background of the Study
Mobile payment systems have revolutionized the banking industry by streamlining transactions and enhancing operational efficiency. AB Microfinance Bank has integrated mobile payment platforms to facilitate rapid, secure, and convenient transactions, particularly among its underserved customer base. Between 2023 and 2025, the bank has rolled out mobile payment solutions that enable customers to conduct transactions via smartphones, reducing dependency on physical branches and traditional cash-handling systems (Adewale, 2023). These systems offer real-time payment processing, improved transparency, and enhanced convenience, contributing to higher transaction volumes and overall customer satisfaction.
The adoption of mobile payment systems is closely linked to broader trends in digital financial inclusion, with empirical evidence suggesting that mobile platforms significantly reduce transaction times and errors (Ibrahim, 2024). However, despite these benefits, challenges such as network reliability, cybersecurity risks, and user adaptation issues persist. This study aims to examine the impact of mobile payment systems on transaction efficiency at AB Microfinance Bank by analyzing system performance data, customer usage patterns, and transaction error rates. The goal is to determine whether mobile payments translate into measurable improvements in operational efficiency and to identify areas for further technological enhancement.
Statement of the Problem
Although AB Microfinance Bank has implemented advanced mobile payment systems, the bank continues to face challenges that affect transaction efficiency. Issues such as intermittent network connectivity, occasional system downtimes, and cybersecurity vulnerabilities have been reported, leading to delayed transactions and customer dissatisfaction (Chinwe, 2023). Moreover, the adoption of mobile payments is uneven across customer segments, with some users experiencing difficulty navigating the technology due to low digital literacy. These factors undermine the potential benefits of mobile payments and may limit the bank’s ability to achieve optimal transaction efficiency. This study seeks to investigate the root causes of these operational challenges and evaluate the overall impact of mobile payment systems on transaction speed and accuracy, ultimately proposing strategies to enhance system reliability and user experience.
Objectives of the Study
– To evaluate the effect of mobile payment systems on transaction efficiency at AB Microfinance Bank.
– To identify the technical and user-related challenges affecting mobile payment adoption.
– To recommend improvements to enhance the reliability and efficiency of mobile payments.
Research Questions
– How do mobile payment systems influence transaction efficiency?
– What are the main challenges hindering efficient mobile payments?
– What measures can improve the performance and user experience of mobile payment systems?
Research Hypotheses
– H₁: Mobile payment systems significantly reduce transaction processing times.
– H₂: Network reliability is positively correlated with mobile payment efficiency.
– H₃: Enhanced user training leads to improved mobile payment adoption.
Scope and Limitations of the Study
The study focuses on AB Microfinance Bank’s mobile payment operations across selected customer segments. Data will be collected from transaction logs, customer feedback, and technical performance reports. Limitations include potential network variability and user demographic differences.
Definitions of Terms
• Mobile Payment Systems: Digital platforms enabling payment transactions via mobile devices.
• Transaction Efficiency: The speed and accuracy with which financial transactions are processed.
• Cybersecurity: Measures to protect digital transactions from unauthorized access and fraud.
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