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Case Study: Consumer Behavior Survey on Mobile Money Usage in Urban Cameroon

Consumer & Behavioral Research, Market Entry Studies
Client
HOP Investments
Location
Philadelphia, United States
Date
23/12/2023
Website
Mobile Payment Tech

Client Background

A regional financial technology (fintech) company operating across Central and West Africa approached WS Market Research Firm as part of its plans to expand digital payment services in Cameroon. The company already had strong operations in Gabon, Congo, and Côte d’Ivoire, and saw Cameroon—particularly Douala and Yaoundé—as a high-potential market for mobile money wallets, merchant payments, and micro-loan services.

To make strategic decisions, the client needed a deeper understanding of how urban Cameroonians use mobile money, what motivates their choices, and what gaps still exist in the competitive landscape

Objectives of the study

The client sought a comprehensive Consumer Behavior Survey to answer the following key questions:

  1. Who uses mobile money in urban Cameroon and why?

  2. What factors influence consumers’ choice of mobile money providers?

  3. What are consumers’ pain points with existing services?

  4. Which services are most in demand (transfers, bill payments, savings, loans, merchant payments)?

  5. How likely are consumers to switch to a new fintech provider?

  6. What pricing, incentives, or service features would attract new users?

 

Methodology

1. Survey Administration (n = 1,200 respondents)

We conducted an extensive digital and in-person survey in:

  • Douala (650 respondents)

  • Yaoundé (550 respondents)

Respondent demographics included:

  • Youth (18–25)

  • Working professionals

  • Small business owners

  • Informal traders

  • Students

  • Low to mid-income earners

The survey collected data on usage frequency, motivations, preferences, frustrations, and expectations.

2. Focus Group Discussions (6 sessions)

We held six moderated focus groups to gather in-depth perspectives from:

  • Women entrepreneurs

  • Taxi/bike drivers

  • Salary earners

  • University students

  • Retail merchants

  • Freelancers and gig workers

3. Competitor Sentiment Analysis

We evaluated three dominant mobile money providers:

  • MTN Mobile Money

  • Orange Money

  • Microfinance-led digital wallets

Data sources included:

  • Delivery app payments

  • Social media feedback

  • Google reviews

  • Community WhatsApp groups

  • Public forums

4. Transaction Environment Assessment

We observed mobile money usage across:

  • Markets (Marché Central, Mokolo, Ndokoti)

  • Supermarkets

  • Schools

  • Public transport hubs

  • Restaurants

  • Street vendors

The goal was to understand real-world transaction behavior.

Key Findings

1. Mobile Money Usage Is Extremely High (91% penetration)

Across surveyed respondents:

  • 91% use mobile money weekly

  • 67% use it daily for essential transactions

  • The most popular uses are:

    • Person-to-person transfers

    • Bill payments

    • Airtime purchases

    • Merchant payments

Small business owners showed the highest daily usage rates.

2. Mobile Money Is the Preferred Payment Method for Youth

Young people (18–30) prefer mobile money because it is:

  • Fast

  • Convenient

  • Cashless

  • Integrated with digital apps

Usage in this group is driven by social networks and digital lifestyles.

3. Pain Points Are Consistent Across Providers

Top user complaints include:

  1. High withdrawal and transfer fees

  2. Network downtime

  3. Fraud and scam risks

  4. Unfriendly or unprofessional agents

  5. Unclear pricing

These pain points represent opportunities for differentiation.

4. Brand Loyalty Is Low — Users Are Ready to Switch

Only 29% of respondents say they are loyal to a single provider.

When asked if they would switch to a new fintech provider offering better fees and reliability:

  • 74% said “Yes”

  • 21% said “Maybe”

This makes the urban market highly penetrable.

5. Merchants Want Simpler, More Reliable Tools

Insights from small retailers:

  • They want lower merchant fees

  • They prefer faster transaction confirmations

  • They need better customer service

  • Many want digital wallets for business separate from personal accounts

This indicates strong demand for a specialized merchant-focused product.

6. The Most Desired Features in a New Fintech Product

Through surveys and focus groups, consumers ranked preferred features:

  1. Lower fees

  2. Instant refunds for failed transactions

  3. Cashback or loyalty rewards

  4. User-friendly app interface

  5. Micro-loans with fair interest rates

  6. 24/7 customer support

  7. Card + wallet integration

A fintech offering even half of these features would gain rapid adoption.

Recommendations

1. Positioning Strategy

The client should brand itself as:
“The low-fee, reliable mobile money alternative for everyday Cameroonians.”

2. Market Entry Strategy

  • Target youth and working professionals initially

  • Use social media influencers and campus activations

  • Deploy merchant onboarding teams in markets and retail clusters

3. Pricing Strategy

  • Offer fees 10–20% lower than dominant players

  • Introduce free transfers or discounted first-time usage

4. Product Strategy

  • Launch with a mobile app + USSD option

  • Add cashback rewards to boost rapid adoption

  • Roll out merchant POS terminals in a second phase

5. Operational Strategy

  • Invest heavily in customer service training

  • Ensure strong uptime by leveraging redundant server infrastructure

  • Establish partnerships with supermarkets and retail chains

Client Outcome

Using insights from our survey:

  • The client approved Cameroon as a priority expansion market

  • They redesigned their pricing model to match Cameroonian sensitivities

  • They developed a pilot digital wallet tailored to youth and merchants

  • Soft-launch testing began with 300 early adopters in Douala

  • A full launch is planned across both cities in 2026

The CEO described the report as “instrumental in shaping our Cameroon strategy.”

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