Assessing Mobile Money Security Threats and User Satisfaction in Bushenyi District, Uganda

Abstract

Mobile money services have revolutionized financial transactions in Uganda, particularly in rural areas like Bushenyi District, by providing accessible and convenient financial solutions. However, increasing usage has led to growing concerns over fraud, cybercrime, and security vulnerabilities. Users face risks such as unauthorized access, identity theft, and phishing scams, which can undermine trust. Understanding these threats and their impact on user confidence is essential for improving security and ensuring long-term adoption. This study examines key security threats affecting mobile money users in Bushenyi District, focusing on their prevalence, impact on user satisfaction and behavior, and possible solutions. A mixed-methods approach was employed, incorporating surveys and interviews with mobile money users, agents, and service providers. Quantitative analysis measured user satisfaction and behavioral intentions, while qualitative insights provided a deeper understanding of user concerns. Results highlight security risks such as SIM card fraud, phishing attacks, and unethical agent practices. Despite a high satisfaction score (19.74), security concerns affect users' willingness to continue using mobile money services. A strong behavioral intention score (16.292) suggests that satisfied users are likely to stay engaged, but security fears can hinder further adoption. Strengthening fraud prevention, enhancing user awareness, and enforcing stricter regulatory oversight are crucial to improving trust. Mobile money providers should prioritize real-time fraud detection and user education to ensure continued adoption and confidence in these services.