introduction -10 pages of content-

In the mobile money industry, it is recognized that responsible usage of data can fundamentally change traditional solutions, improve access by driving long-term impact, and further expand insights on opportunities for augmenting financial access. Responsible usage of data in mobile money is of significant role as it ensures that consumers have adequate control over their individual data. Therefore, consumer protection assumes a fundamental role in the provision of mobile money services (Alinaghi, 2019). Providers have to recognize the essentiality of empowering consumers and protecting their individual data in the increasingly digital era. The aim of this paper is to provide a synopsis of practices that protect data and are bound to have considerable impact on the provision of mobile money services in future (Pan, Xu and Meng, 2012).

The appreciation of data has been growing on daily basis, and this is a wakeup call for governments in developing countries to revise their data protection laws to guarantee preservation of their citizens’ privacy rights (Qureshi, 2020). The Alliance for Financial Inclusion recognizes the vitality of relative data protection law that defends consumer data while enhancing innovation in the fiscal service industry.

There are nations where consumer and data protection legal structures are not yet developed. Protection of the personal data of the consumers is therefore much challenging and this can be addressed by suitable organizational data governance mechanisms centered on the provision of mobile money services (Ramos Muuoz et al., 2015). It is through this that users will be protected from significant losses and the danger of cyber breaches. The ability to build up confidence and trust among users will protect the reputation of the providers, and enhance the expansion and sustainability of the mobile industry at large. The aim of this paper is to provide a synopsis of practices that protect data and are bound to have considerable impact on the provision of mobile money services in future.

Mobile money is the usage of telecommunication networks or platforms by subscribers of mobile phones to execute banking services. Mobile money allows subscribers to bank openly from their mobile phones without physically going to financial institutions to receive money or pay bills. Business transactions are conducted through virtual mobile accounts, commonly known as mobile money wallets. The use of mobile money has been growing steadily in Africa, which has been positioned as the next 'big thing' to transform the cash dominant African economy (Alinghi, 2019). Mobile money services have become one of the vital services for telecom companies in Africa. Research shows that 6o% of adults used mobile money services in 2017.

The increase in the use of mobile money services has necessitated data localization, data sharing, data security, and data processing. All these processes are required to promote efficiency in mobile money services. Continued adoption of mobile money services has also increased data security issues (Cassim, 2015). Therefore, research is required to identify the strategies that can be implemented to promote consumer data protection when it comes to data localization, data transfer, data sharing, and data security. Previous researchers have not given reliable information on how consumer data can be protected in data localization, data, sharing, data transfer, and data security.

The growing use of mobile money services globally requires extensive research to be conducted on data localization, data sharing, data transfer, and data processing. It is crucial for providers of mobile money services and consumers to be aware of the necessary measures to promote security. Network operators and users should ensure the safety of mobile money to prevent fraud and to comprehend the user perception about linkages between mobile money security and phone security. Fraud in mobile money services has been increasing, which has led to significant losses in millions of dollars (Dong et al., 2019). Unfortunately, research on the protection of consumer data has been limited to other areas of operation. Previous researchers have not given an in-depth discussion on how consumer data can be protected in areas of data localization, data processing, data transfer, and data sharing. Therefore, the status of consumer data regarding the mentioned areas is not fully defined for mobile users and mobile money service providers. In contrast, mobile money services are tremendously attractive to swindlers (Dong et al., 2019). The literature review shows that consumer data protection is fundamental for the effective delivery of mobile money services.

The aim of this paper is to provide a synopsis of security measures that can protect consumer data within mobile money services and discuss the considerable impact of stringent security measures on the provision of mobile money services in the future

The purpose of this qualitative study is to ensure the security for the customer data

Why Customer Data is not Safe in Mobile Money

There are various reasons as to why customer data is not safe in mobile money. First, hackers can access the data and compromise the confidentiality, security and privacy of the customers. Secondly, some mobile money service providers don’t follow the established code of conduct, and this has significantly led to data breaches. Thirdly, most customers of mobile money services are not well-informed of the measures they can take to protect their data from getting accessed by unauthorized parties (Abdalla & Pathan, 2014).

Challenges and Objectives

Completing the research is not an easy task as there are various challenges that have to be addressed. There are various challenges encountered in the process of designing and evaluating the research topic:

1. The first challenge was on developing a topic on protecting consumer data in mobile money services.

2. Secondly, it was challenging to choose the correct research methodology due to the nature of the research.

3. There was also the challenge of finding participants who are aware of consumer data in the mobile money services.

4. There was also the challenge of getting organizations that deal with mobile money services, and also requesting their participation in the research.

Research Objectives

1. To ensure that there is a protection of consumer data in the provision of mobile money services.

2. To ensure that consumers have adequate control over their personal data.

3. To bring into limelight the consumer data protection laws proposed by government and its agencies.

4. To build up confidence and trust among the users to safeguard the reputation of the provider, and enhance the growth and sustainability of the mobile money industry at large.

5. To identify the key areas that the providers of the mobile money have to address.

1. How can consumer data be protected in mobile money services when it comes to data sharing? It is essential to evaluate and understand how mobile money service providers protect consumer data during data sharing. The evaluation will identify the existing gaps and make recommendations on the best practices that should be implemented.

2. How can consumer data be protected in mobile money services when processing data? Data processing is a pivotal process in the provision of mobile money services. However, many mobile money service providers have not implemented effective measures that guarantee consumer protection when they are processing data. Knowing the steps taken to protect consumer data during data processing is crucial to identify the strategies that can be made for reforms.

3. How can one secure client’s data when offering mobile money services? Security in the 21st is essential in all business operations. The mobile money industry entirely depends on data security. Therefore, mobile money service providers should know the measures and strategies that should be implemented to ensure safety in all mobile money operations.

4. How can consumer data be protected in mobile money services when localizing data? Data localization is a crucial aspect when it comes to mobile money services. Data localization spells how to keep consumer data, and failing to adhere to such measures can result in legal liabilities. Some of the data localization rules and regulations will be reviewed to affirm their effectiveness and relevance in the protection of consumer data in the mobile money industry.

The survey method of research will be used in this study (Shea et al., 2013). Questionnaires will be designed and distributed to the research subjects. Additionally, interviews will be conducted to collect data from the identified research subjects. The interviews will be both face-to-face and online for the purpose of convenience. The consumers to be surveyed here will be those using mobile money services. The research will use consumer knowledgeable on mobile money services and those unaware of the same. The research will use both male and female subjects to ensure gender balance and input. In a nutshell, the research will therefore employ qualitative methods of study.

Limitation and Delimitations

Mobile money service comprises different stakeholders, including trusted third parties, service providers, and financial institutions. However, for this research, the term mobile money is limited to a service provided by Mobile Network Operators (MNOs) or telecommunication companies to their subscribers to facilitate mobile money transactions. This research is only focused on registered users of mobile money services. Moreover, the study is limited to the protection of consumer data in data localization, data processing, data sharing, and data security.

Organization of the Thesis

The remaining work is organized in various chapters, where chapter 2 is on the literature review. The different methodologies used in this research are discussed in the third chapter. Chapter 4 discusses the data presentation, while chapter 5 is dedicated to the study findings and discussions. The last chapter is devoted to conclusions, recommendations, and suggestions for the future and further studies.

Data sharing, localization and processing impact the major key features of mobile money service delivery, and demands adaptability and flexibility among the providers of mobile money services to sustain the changing consumer demands and evolving requirements. Despite the revolutions brought by mobile money in accessing financial services by users, the mobile money industry has to meet the highest regulations of business practice in handling the user data. The mobile money industry is at a crossroad when it comes to protecting consumer data, and this has to be taken as an opportunity and not a hindrance. Mobile money service providers can promote efficiency and effectiveness in mobile money services by following the established laws. However, providers of mobile money services don't only need to follow established guidelines. Still, also, they have to teach their consumers on privacy and safety ways of accessing their data. The processes of data localization, data sharing and data processing require the input of both the government and service providers to promote safety, privacy and confidentiality. All the stakeholders in the mobile money industry have to join hands and work together with a common goal of boosting customer services and creating more job opportunities.

References

Abdalla, A., & Pathan, A. (2014). On Protecting Data Storage in Mobile Cloud Computing Paradigm. IETE Technical Review, 31(1), 82-91.

Alinghi, N. (2019). Mobile money, risk-sharing, and transaction costs: a replication study of evidence from Kenya’s mobile money revolution. Journal Of Development Effectiveness, 11(4), 342-359.

Cassim, F. (2015). Protecting personal information in the era of identity theft: how safe is our personal information from identity thieves?. Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad, 18(2), 68.

Dong, Y., Chung, M., Zhou, C., & Venkataraman, S. (2019). Banking on “Mobile Money”: The Implications of Mobile Money Services on the Value Chain. Manufacturing & Service Operations Management, 21(2).

Pan, X., Xu, J., & Meng, X. (2012). Protecting Location Privacy against Location-Dependent Attacks in Mobile Services. IEEE Transactions On Knowledge And Data Engineering, 24(8), 1506-1519.

Qureshi, S. (2020). Why Data Matters for Development? Exploring Data Justice, Micro- Entrepreneurship, Mobile Money and Financial Inclusion. Information Technology For Development, 26(2), 201-213.

Ramos Muuoz, D., Solana, J., Buckley, R., & Greenacre, J. (2015). Protecting Mobile Money Customer Funds in Civil Law Jurisdictions. SSRN Electronic Journal.

Shea, C., Roberts, M., Johnson, E., & Hadlock, W. (2013). Matching Data Collection Method to Purpose: In the Moment Data Collection with Mobile Devices for Occasioned Based Analysis. Survey Practice, 6(1), 1-7.