Analysis of the Determinants of Mobile Money Adoption and Use: Evidence from Togo with Simple and Multivariate Probit Approaches

This study analyzes both the adoption and the use of mobile money (MM) services in Togo. More precisely, based on the Global Findex survey conducted in 2017 by the World Bank, it first attempts to profile MM adopters, then to identify the explanatory factors of the different uses of MM services. Thus, using a Probit model, it highlights the explanatory factors of MM adoption in Togo. And through a multivariate regression, it identifies the determinants of the use of MM services. Then, the estimates of three independent Probit, under the assumption of non-simultaneity of the different uses of MM services, are carried out to test the reliability and robustness of the results. The results of the analyses reveal that socioeconomic factors such as age, education level, standard of living, and cell phone ownership affect both MM adoption and MM service use in Togo.