Banking the unbanked. Constitutive rules and the institutionalization of mobile payment systems in Nigeria

Ehret, M. and Olaniyan, R. ORCID: 0000-0001-8819-2083, 2023. Banking the unbanked. Constitutive rules and the institutionalization of mobile payment systems in Nigeria. Journal of Business Research, 163: 113845. ISSN 0148-2963

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Researchers identify institutional voids as serious roadblocks to economic development. Mobile payment systems offer a promise to fill institutional voids in emerging economies. Financial technology companies can help to “bank the unbanked” by leapfrogging financial services found in more developed economies. However, both, economic regulations as well as technological solutions for institution building, such as cryptocurrencies, show mixed results. Institutional Theory extends institutional voids research by acknowledging the social dimension of institutions. Constitutive rules help to conceptualize the cultural-cognitive dimension of payment institutions. The study of Paga, the premier mobile payment platform of Nigeria, reveals the emergence of constitutive rules through the interplay of technology development and social action. Constitutive rules are vital for financial technology innovation, and more generally in the institutionalization of service ecosystems. The case demon- strates the central role of partner-networks in establishing mobile payment institutions.

Item Type: Journal article
Publication Title: Journal of Business Research
Creators: Ehret, M. and Olaniyan, R.
Publisher: Elsevier BV
Date: August 2023
Volume: 163
ISSN: 0148-2963
S0148296323002035Publisher Item Identifier
Rights: Copyright: Crown Copyright © 2023 Published by Elsevier Inc. This is an open access article under the CC BY license (
Divisions: Schools > Nottingham Business School
Record created by: Linda Sullivan
Date Added: 09 May 2023 09:30
Last Modified: 09 May 2023 09:30

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