Two-Sided Financial Technology Underadoption: A Field Experiment

Last registered on April 26, 2024
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Pre-Trial

Trial Information

General Information

Title
Two-Sided Financial Technology Underadoption: A Field Experiment
RCT ID
AEARCTR-0013193
Initial registration date
April 23, 2024

Initial registration date is when the trial was registered.

It corresponds to when the registration was submitted to the Registry to be reviewed for publication.

First published
April 26, 2024, 12:23 PM EDT

First published corresponds to when the trial was first made public on the Registry after being reviewed.

Locations

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Primary Investigator

Name
Hakan Ozyilmaz
Affiliation
Toulouse School of Economics
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Other Primary Investigator(s)

PI Name
Sabrine Bair
PI Affiliation
Toulouse School of Economics
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PI Name
Pepita Miquel-Florensa
PI Affiliation
Toulouse School of Economics
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Additional Trial Information

Status
In development
Start date
2024-04-15
End date
2024-10-01
Keywords
Finance & Microfinance, Gender
Additional Keywords
JEL code(s)
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
We seek to investigate the determinants of mobile money underadoption in Jordan on both sides of the market using a field experiment. Specifically, we elicit consumers' and merchants' willingness to pay for mobile money through an incentive-compatible mechanism and quantify the role of various behavioral factors that we suspect hinder adoption. Our treatments cover a wide set of behavioral factors that are commonly identified as significant barriers to adoption in previous research, such as attention, digital financial literacy, and trust, as well as rational explanations that deem underadoption in two-sided markets as a coordination failure.
External Link(s)

Registration Citation

Citation
Bair, Sabrine, Pepita Miquel-Florensa and Hakan Ozyilmaz. 2024. "Two-Sided Financial Technology Underadoption: A Field Experiment." AEA RCT Registry. April 26. https://doi.org/10.1257/rct.13193-1.0
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
Mobile Money Training (T1): To understand the joint role of attention, digital financial literacy, and trust, we create a mobile money training in collaboration with the local payment system operator and the service provider that provides information about what type of financial services are available on mobile money, how they can benefit from using mobile money and how they can protect themselves from potential risks of mobile money (i.e. fraud, theft, data security, complaint channels). The training also includes a hands-on part where participants practice making transfers and payments through the partner provider's mock app.

Information Provision (T2): To understand how sensitive each side of the market is to cross-side network effects, we provide market-level cross-side adoption information. We define a market as the neighborhood in which participants reside or conduct business.
Intervention Start Date
2024-04-24
Intervention End Date
2024-05-02

Primary Outcomes

Primary Outcomes (end points)
Willingness to pay, cross-network beliefs, same-network beliefs
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
In each session, participants state their willingness to pay to get a digital finance package (including digital wallets and debit cards for consumers; digital wallets and a subsidy for merchants), receive their first treatment (either mobile money training or cross-market adoption information), and re-state their willingness to pay, receive their second treatment (either mobile money training or cross-market adoption information) and re-state their willingness to pay, complete a comprehensive end-of-experiment survey that collects information on various financial behaviors that mobile money would have a potential impact (such as financial resilience, savings, transfers, payments) along with demographic information. One of the willingness to pay measures is then randomly selected to determine if a participant gets the digital financial package.
Experimental Design Details
Not available
Randomization Method
Randomization into treatment orders done by a computer
Randomization Unit
Experimental sessions
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
270 individuals
Sample size: planned number of observations
810
Sample size (or number of clusters) by treatment arms
90 consumers each in Order A (T1-T2) and Order B
45 small business owners each in Order A (T1-T2) and Order B
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
TSE-IAST Review Board for Ethical Standards in Research
IRB Approval Date
2023-10-09
IRB Approval Number
10-23-01-R
Analysis Plan

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