Thanti is a Senior Lecturer at the Graduate School of Business, University of Cape Town. Thanti teaches Risk Management, Entrepreneurship/Entrepreneurial Finance and Venture Capital. Thanti holds a PhD (Finance) and an MM (Entrepreneurship) from Wits. He is also one of a handful of Professional Risk Manager (PRM™) charter holders in South Africa. Thanti has also published high quality academic articles in top international journals like Research Policy, Technology Analysis & Strategic Management and the Journal of Entrepreneurship and Public Policy.
Abstract
Developing countries have experienced many challenges in replicating mobile money services (MMS) successes, and the literature suggests that the regulatory environment is a critical barrier to the success of financial services in low-trust and institutionally compromised developing countries. Nevertheless, all models in previous MMS studies seemingly overlook the linkage between the perceived effectiveness of the regulatory environment (PERE) and consumers’ behavioural intention to adopt MMS. To address this gap, we employ covariance-based structural equation modeling (SEM) on a data set comprising 298 responses to investigate whether PERE affects the behavioural intention to adopt MMS in low-trust South Africa. Our results confirm that a new model that integrates PERE and price value (PV) accounts for 91.8% of the variance in consumers’ behavioural intention to adopt MMS; thus, demonstrating a 24.05% improvement in explanatory and predictive power over the unified theory of acceptance and use of technology (UTUAT) model.