Barriers of Access to Mobile Financial Services by the Elderly People in Plain Land Ethnic Groups in Bangladesh: A Quantitative Study

Abstract

Approximately two million people belonging to 27 officially recognized ethnic minority groups live primarily in the plain land of the northern divisions of Bangladesh. They are socially, economically, and politically vulnerable and marginalized. Among them, the elderly is considered to be more vulnerable due to their advanced age and economic circumstances. Additionally, they do not have access to conventional financial services. In this situation, mobile financial services (MFS) are utilized to ensure that the elderly of plain land have access to their funds and other government-provided financial services in a secure manner. This quantitative study aimed to access the barriers that prevent elderly members of ethnic minorities from accessing MFS. Though a structured survey administrated to a sample of elderly individuals from plain land ethnic groups in Bangladesh, data were collected on various factors including language barriers, digital literacy, trust in MFS service providers, experience of fraud. Descriptive and inferential statistical analyses were conducted to identify significant barriers to MFS access among the elderly. The findings indicate that elderly people of plain land ethnicity in Bangladesh face multiple obstacles when attempting to access and utilize MFS. The most significant obstacles for the elderly are the language barrier and limited digital literacy. Lack of trust in MFS service providers and attempts at fraud by service agents are also cited as significant obstacles. Therefore, the government and MFS providers should pay careful attention to essential adjustments to the MFS delivery mechanism in order to improve access and utilization by the nation's plain land elderly.