Abstract:
This research study has mainly focused on customer perception and awareness
towards mobile money service in Sri Lanka. It has used a structured questionnaire
which has been distributed within Colombo and Gampaha districts among mobile
phone users. According to the findings of the research most of the m-money users
in Western Province are facilitated with the fund transferring service. Awareness of
the customers in Western province is at a satisfactory level in considering the results
obtained from the questionnaires. As well it was identified m-money customers has
faced many problems mainly with the m-money agents, limitation in the amount
approved for transferring, lack of cash points in every village. Some respondents has
stated that they have not engaged with m-money service due to lack of trust, and
understanding. As per the respondents the trust on this service has in a lower level
due to the unavailability of proper legal framework for m-money service in Sri Lanka.
This has caused for arising illegal activities like mainly the money laundering. Based
on this situation it has recommended for future researchers to pay their attention on
the risks associated with m-money service in Sri Lanka which can be useful for
considering in establishing a proper legal framework to m-money service.
