Socioeconomic Factors Influencing Participation in Mobile Money by Poor Fishing Families of a Municipality in the Philippines

Abstract

The study analyzed selected factors that influenced participation in mobile money by fishing families of a small town municipality in the Philippines. It investigated the socioeconomic characteristics of families and heads of the family; describe their engagement in mobile money; analyze the influence of selected variables on the family’s participation in the technology. It utilized a survey to gather needed data and regression analysis to determine relationships among selected variables. Heads of the family were mostly male with low educational preparation.  Family income was not enough, the family size was big, and economic dependency was relatively high. Families transacted with comparatively small amounts of money. Most used mobile money for receiving cash when in dire need of funds. But there were only one or two providers in the barangay. Higher education of the head of family enhanced engagement in mobile money. Nonetheless, low education did not negatively affect participation. High family income resulted in more amount of money sent. The large size of family and high family expenses brought about a greater amount of money received since family size spells consumption level which in turn influences the amount of spending. Such a situation puts pressure on income-earning members to frequently send money to the home base.