Reaching out to the bottom of the pyramid to achieve financial inclusion

Abstract

Purpose This study aims to explore the factors influencing the bottom of the pyramid (BOP) consumers’ adoption and usage intention towards mobile payment (m-payment) to achieve financial inclusion and sustainable development goals. Design/methodology/approach A qualitative research design is used to explore the enablers and inhibitors that influence BOP consumers’ m-payment adoption and usage intention. To collect the qualitative responses, semi-structured in-depth interviews with BOP respondents were conducted. The thematic analysis using the text mining technique will be used to analyse qualitative data for exploring the predominant factors affecting m-payment adoption intention and usage. Findings The results suggested awareness, social influences and self-efficacy as crucial enablers and privacy and security risks and vulnerability concerns as crucial inhibitors towards m-payment adoption and usage. Originality/value As a novel contribution to the BOP, financial inclusion, sustainable development goals and m-payment literature, this study unfolds several unknown perceived benefits and perceived sacrifices that influence the BOP consumers’ m-payment adoption intention and usage. The study’s findings help the government and banks formulate and implement strategies to achieve financial inclusion among BOP consumers.