Mobile money interoperability and individual financial outcomes in Ghana: evidence from a mixed-methods study

Mobile money interoperability (MMI) has reshaped Ghana’s digital financial landscape, yet its effects on individual users’ everyday finances remain poorly understood. While aggregate transaction data paint an encouraging picture, total interoperable transaction value grew from GH₵26.4 billion in 2022 to GH₵32.8 billion in 2023. This growth has not been systematically translated into evidence about whether ordinary users are saving more, spending less on transaction fees, accessing credit, or becoming more financially resilient. This study employs a mixed-methods design, combining a structured survey of 350 adult mobile money users from the Greater Accra, Ashanti, and Bono regions, conducted through stratified random sampling, with semi-structured interviews with 20 purposively selected participants. Quantitative data are analysed using binary and ordinal logistic regression in IBM SPSS v26. Qualitative data are thematically coded and triangulated with quantitative findings. MMI usage is associated with reduced cross-network transaction friction and with increased savings frequency, broader access to algorithmic digital credit, and greater household financial resilience. However, these associations are moderated by financial literacy, geographic location, and unresolved provider-level interchange fee disputes, which partially erode user-level cost savings. Interoperability is a meaningful but incomplete driver of financial well-being at the individual level. Realising its full potential requires complementary investment in financial literacy, expansion of agent networks in rural areas, and regulatory reform of interchange fee structures. These findings carry implications for FinTech policymakers across Sub-Saharan Africa.