To read this content please select one of the options below:

Trust building in mobile money and its outcomes

Christian Nedu Osakwe (Gordon Institute of Business Science, University of Pretoria, Johannesburg, South Africa; Department of Financial Technologies, South Ural State, University (National Research University), Chelyabinsk, Russian Federation and Rabat Business School, International University of Rabat, Technopolis Rabat-Shore Rocade Rabat-Salé, Morocco)
Titus Chukwuemezie Okeke (Department of Marketing, Nnamdi Azikiwe University, Awka, Nigeria)
Michael Adu Kwarteng (Faculty of Management and Economics, Tomas Bata University in Zlin, Zlín, Czech Republic)

European Business Review

ISSN: 0955-534X

Article publication date: 22 June 2021

Issue publication date: 1 February 2022




To examine the key factors that can engender initial trust in mobile money and to also determine whether initial trust can contribute to the perceived value of mobile money, use and recommendation intentions. More specifically, this paper, based on initial trust building model, aims to identify the institutional, cognitive and socially related factors enhancing initial trust in mobile money and its relationship with perceived value, use and recommendation intentions.


A self-administered questionnaire was used to collect data from 781 research participants. Variance-based structural equation modelling was used to examine the proposed research model.


This research shows the importance of the institutional factor of structural assurance, in conjunction with perceived firm reputation and communicability, in engendering initial trust in mobile money and, in turn, enhancing perceived value, use and recommendation intentions. The research further confirms the mediating influence of perceived value in the relationships between initial trust, use and recommendation intentions.


The originality of this work lies in the development and empirical confirmation of the research model and which together contributes to an increase understanding of initial trust building in mobile money acceptance. Value-wise, this work has the potential to inform managerial and public policy interventions by helping mobile money operators and policymakers’ rollout essential and even sophisticated financial services like borrowing using the mobile phone for the financially under-served in developing and trust-deficit settings.



The authors acknowledge all those who assisted in the data collection process. The third author acknowledges support from Research Project NPU I No. MSMT-7778/2020 RVO – Digital transformation and its impact on customer behaviour and business processes in traditional and online markets. Finally, the authors acknowledge the reviewers as well as the editor-in-charge of the manuscript and in the person of Professor Ambika Zutshi for their constructive comments and guidance throughout the review process of the manuscript.

Data Availability Statement: The data that support the findings of this study will be made available upon reasonable request.


Osakwe, C.N., Okeke, T.C. and Kwarteng, M.A. (2022), "Trust building in mobile money and its outcomes", European Business Review, Vol. 34 No. 2, pp. 244-262.



Emerald Publishing Limited

Copyright © 2021, Emerald Publishing Limited

Related articles