The Extent of Utilization of Mobile Banking in Rural Community: Basis for Adoption to Strengthen Financial Inclusion

The study assessed the extent of utilization of mobile banking in rural Gubat, Sorsogon, and used results as a basis to encourage residents to adopt the said technology, thereby strengthening financial inclusion. This study employed the descriptive quantitative research design. Adult residents of rural Gubat, Sorsogon, who own a smartphone, served as respondents using a combination of convenience and stratified sampling methods. Survey questionnaire and checklists through Google Forms were used as the primary methods of getting data from the samples. The links for the forms were disseminated to qualified respondents. Likewise, an interview was utilized to verify the information. The most common mobile banking products and services available for the rural population include fund transfers, balance inquiries, bill payments, phone top-ups, and investments. The advantages of mobile banking relative to financial inclusion as perceived by the rural population are ease of access, lower travel expenses, quicker and less expensive transactions, improved financial management, and security. The main barriers to the adoption of mobile banking include lack of awareness, lack of internet connectivity, imposition of charges, and technological problems. The use of mobile banking in rural populations can be encouraged by initiatives like user-friendly apps, awareness campaigns, discounted plans, and local language services.