Factors Which Affect Brand Loyalty of Mobile Money Transfer Services, Among Consumers of South B Residential Area.

Abstract

Mobile money transfer services are one of the major innovations in both money transfer and communications industry. The service that was first introduced in year 2007 has grown tremendously. It allows people to carry their bank accounts in their own hands and thereby transforming peoples life. It is the increased number of subscribers that triggered the brand loyalty concept in the mobile money transfer service market. This study was conducted with an overall objective of finding out factors that influence brand loyalty of mobile money transfer services in Kenya. A population sample for the survey was selected from South B residential area in Nairobi Kenya. A sample size of two hundred respondents was picked from an overall population size of over Seventeen thousand households, The interview was addressed to only one person of either sex per household. Data collected was analyzed by a means of descriptive statistics which included frequency tables means and percentages. Analysis of the data indicated that all the mobile money transfer service are of use to people in Kenya. The M-pesa leads others followed by Airtel money, Orange money and Yu cash respectively. The factors that attract people to use the services are the same where convenience is considered to be the highly preferred by many people. Convenience goes hand in hand with the availability of agents, speed of service, network efficiency and coverage. There are some hindrances to the effective use of these services and they include network delay, lack of enough agents, the complexity of the use of the service, and insecurity .