Risks Associated with Payment Banks and Mobile-Based Money Platforms

Hafiz Ubaid Ur Rahman Rahmani, Barjoyai Bardai, Abdoulrahman Aljounaidi Mhd Ramez

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Mobile-based money platforms are considered as one of the determinants of economic development in most developing and under developing countries of the world. The usefulness of payment banks and other mobile-based money platforms could be traced to the fact that it provides easy access to money, ease money sending difficulties, the speed of sending and receiving money, mobile access, and other usefulness (Cudjoe, A., Anim, P., & Nyan, J., 2015). However, there are certain risks that are associated with payment banks and mobile-based money platforms that most of the previous authors never write upon. This is a research gap observed. This research intended to close the gaps by presenting a complete journal report on not only related to the benefits, but the risks related to the payment banks and mobile-based money platforms. This paper discovered that the risks associated with payment banks and mobile- based money platforms pose a minimal threat and that was the reason why previous authors decided not to mention through its data collection methodology of 400 questionnaires collated from respondents. That is customers will continue to patronize mobile-based money platforms despite its minimal threat.
Original languageEnglish
Article numberI0125149
Pages (from-to)250-269
Number of pages20
JournalInternational Journal of Scientific & Engineering Research (IJSER)
Issue number11
Publication statusPublished - 20 Nov 2018

Bibliographical note

Open access


  • unbanked
  • banked
  • perceived risk
  • variables
  • mobile-based money platforms,
  • payment banks


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