Digital Financial Services
A small dip in DFS use
Compared to last interview, there is a small 1.5% increase in respondents saying they use DFS rarely. This number was steadily going down before. There are also 3.4% more respondents using DFS 'Sometimes'.
Still I think it's safe to say that the frequency of DFS use is high and stable in this population.
There are no big differences between groups: male respondents and respondents in the treatment group seem to use DFS a bit more often.
DFS2: How often have you been using digital financial services, since the last visit? (Men)
DFS2: How often have you been using digital financial services, since the last visit? (Treatment)
DFS2: How often have you been using digital financial services, since the last visit? (Women)
DFS2: How often have you been using digital financial services, since the last visit? (Control)
DFS3: Which digital financial services have you been using since the last visit ?
Use of specific services
This graph hasn't changed a lot over the last few interviews. M-Pesa is used most often, but Okoa Jahazi is close.
DFS Balances
The balances the respondents say they have on DFS (savings subtracted by the loans) is varying wildly per interview. We can now safely say this is a volatile metric, most likely because participants just loan and save a lot, and the interviews are just a snapshot.
Average balance on DFS accounts - By group
Average balance on DFS accounts - By gender
Count of DFS Balance Buckets
Questions about learning
When asked about what the respondents learned about DFS, most said they didn't learn anything new, or learned about a specific DFS.
Most respondents report having no trouble with DFS, but a small percentage cites Network problems / delays.
When asked what they learned about saving/spending, most respondents said they didn't learn anything new. They also said they learned about saving in general, and that the more they save, the more they can loan.
When asked what they'd like to learn, many respondents say they would like to learn about another DFS than the one they're using.
These questions are very general, so please have a look at the tables that show a selection of the other answers given to these questions about learning.
Answers to 'DFS4: What did you learn about digital financial services since the last visit?'
- Nothing new125
- I learned about a specific DFS18
- DFS services are quick and makes one feel secure walking with money on their phone.1
- Getting public services like paying electricity bills without having to go to the stations1
- He has come to learn recently that when you buy airtime from M-pesa there is no any cash deducted1
- I can save and borrow loans from digital fice services1
- I can send and recieve money,pay bills,buy airtime.1
- I have learnt how to save money through m pesa and leave it for some time even if i dont use my phone1
- I learned about saving1
- It is helpful even at midnight you can okoa and call someone1
- It is very fastIt saves time It is more accurateThe information on transactions is stored on one's phone and can be easily retrieved.1
- Nice and efficient on giving instant loans1
- Send money and widrawing money via m-pesa below 100 sh is free ie no transaction fee is not deducted1
- That one can shop using global nakumatt diamond card.1
- That when I want to withdraw over 3000 is sometimes impossible to the agents who are in the community ,which means equitel is still not common1
- Their interest rates are low compared to other digital ficial services.1
- They are readly available1
DFS4: What did you learn about digital financial services since the last visit?
DFS6: What kind of trouble have you been having with digital financial services since the last visit?
Answers to 'DFS6: What kind of trouble have you been having with digital financial services since the last visit?'
- No problems115
- Network problems / Delays12
- I don't qualify for a loan8
- It's easier to spend / I spend more3
- Network problem3
- Charges are higher1
- Dealing with scams and fraudsters while using digital ficial services1
- He has (for some time now) wanted to learn about mbanking but it's not been easy because he registered his line with his brother's ID number so there has always been confusion on transfering money from one account (mpesa and bank)to another.1
- His wife lost some money on mpesa, she had not withdrawn any money but lost 950kshs.1
- I just hated it when I could not call because I had another loan on okoa jahazi and the amount I had was less than what Iam expected to repay1
- I would like to join M- Shwari and first I need to know how it operates1
- If you fail to pay your loan,your fee is increased that is that amount charged for that month then they dont increase your loan limit as fast as you want it to be1
- In few banks the transactions charges high rates, like Imarika sacco, they charge for every transaction including depositing cash.1
- Its hard to maintain1
- Kopa credo, money disappears overnight.1
- My phones screen got damaged1
- She rarely uses mpesa, but she finds their transaction fees are too high.1
- She tried to save on her mshwari account but it could not be completed, she was told to visit nearest safaricom care centre for help.1
- Since his phone is not working well, he decided to withdraw all his money from the account and quit using the service because every time he has to use it, he needs to use someone else's phone.1
- Sometimes it is hard to get large amounts with equitel than mpesa through withdrawing1
- The network hunging most of the times1
- We mistakenly took 500 instead of 50 on okoa jahazi and it was stressful paying1
Respondents want to learn about specific DFS, all DFS, or DFS safety
When asked what they would like to learn about DFS, most respondents didn't want to learn anything. But out of those who did, they wanted to learn how to use a specific DFS, wanted to learn new things about any DFS, and wanted to learn about DFS safety. That last point is noteworthy, because DFS safety wasn't so clear on the agenda for the previous interviews.
Broad Code - What would you like to learn about digital financial services since the last visit?
DFS8: How have your saving/spending habits changed since our last visit?