Technological Forecasting & Social Change 192 (2023) 122596

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Technological Forecasting & Social Change

journal homepage: www.elsevier.com/locate/techfore

Mobile financial service-enabled micro-businesses driving sustainable value

creation in emerging markets
Lara Schilling *, Stefan Seuring
University of Kassel, Faculty of Business and Economics, Supply Chain Management, Henschelstraße 2, 34109 Kassel, Germany

A R T I C L E I N F O A B S T R A C T

Keywords: Financial service innovations open avenues for the financial inclusion and empowerment of micro-businesses in
Business model innovation emerging economies. While there is a growing debate about the impact of such information and communication
Supply chain technology-driven business model innovations, this has not been studied on a supply chain (SC) level. Accord­
Sustainability
ingly, this paper adopts a case study approach to analyze how mobile financial services (MFSs) enable sus­
Financial inclusion
Digital technology
tainable value creation in emerging economy SCs. Semi-structured interviews conducted in Pakistan and four
selected countries in Sub-Saharan Africa show how MFSs impact local micro-businesses' information, financial,
and physical SC flows. This research demonstrates that value creation processes are driven by mobile business
transactions that address market, regulatory, and socio-cultural constraints faced by micro-entrepreneurs in
emerging markets. Thereby, we strengthen the understanding of the interplay between local conditions and the
application of technological innovations promoting sustainable value creation along SCs. Various challenges and
hidden consequences threatening value creation were identified. Further, this study provides a theoretical
framework that merges constructs from the field of technology-driven innovations, (sustainable) business
models, and (sustainable) SC management. This allows analyzing with and for whom value is created from an SC
perspective.

1. Introduction This study examines the phenomenon of technology-based value

The integration of information and communication technology (ICT)
allows for radical business model innovations while opening new value
creation opportunities for businesses operating in emerging markets
(Howell et al., 2018; Sengupta et al., 2021). Business model innovations
serve as “a crucial source of value creation for the firm and its suppliers,
partners, and customers” (Amit and Zott, 2001, p. 493). To map the
impact of the value creation and delivery process, this study adopts a
sustainable supply chain (SC) business model perspective (Trkman et al.,
2015) covering economic, environmental, and social value flows (Evans
et al., 2017). Thereby, different organizational business models are
combined into a common SC business model, which makes it possible to
analyze ICT-driven value creation processes for small businesses and
their SC partners (Carter et al., 2015). While the process of value crea­
tion in emerging markets is often hampered by institutional voids, they
can also open up new avenues for value creation by impacting the in­
formation, financial, and physical SC flows of local micro-businesses
(Kabengele and Hahn, 2021).
creation in the form of financial services accessible through mobile
(smart)phones. The adoption of such mobile financial services (MFSs)
has been enabled by the rapid diffusion of mobile cellular subscriptions
and people using the internet in developing and emerging economies in
the last decade (World Bank, 2019). MFSs include services such as
mobile money transfers, mobile payments, and mobile banking “to
achieve capital flow visibility and accessibility, which in turn promotes
transactions and logistics activities by effectively utilizing capital” (Song
et al., 2018, p. 70). Consequently, digital services support more efficient
operations for businesses while enabling financial inclusion and access
to various financial services in emerging economies (Kanungo and
Gupta, 2021; Wellalage et al., 2021). The focus of this research is on
micro-entrepreneurs applying these services, as the benefits they receive
from MFSs are expected to be particularly evident because MFSs allow
for transactions involving marginal amounts, which cannot be executed
through traditional banking systems. Additionally, they allow small
businesses to receive financial support in rural areas (Koomson et al.,
2021) and reduce their market separation (Tarafdar et al., 2013). Thus,

* Corresponding author.
E-mail addresses: lara.schilling@uni-kassel.de (L. Schilling), seuring@uni-kassel.de (S. Seuring).

https://doi.org/10.1016/j.techfore.2023.122596
Received 3 June 2022; Received in revised form 31 March 2023; Accepted 13 April 2023
Available online 29 April 2023
0040-1625/© 2023 Elsevier Inc. All rights reserved.
L. Schilling and S. Seuring
the study contributes to the business model innovation (Sengupta et al.,
2021) and value creation literature (Howell et al., 2018) while focusing
on upstream SCs within emerging economies (Tate et al., 2019).
Prior research has mainly focused on the adoption (de Luna et al.,
2019; Kabengele and Hahn, 2021; Koomson et al., 2021; Sengupta et al.,
2021), implementation (Berger and Nakata, 2013), and diffusion
(Lashitew et al., 2019) of ICT and its potential to support financial in­
clusion in emerging economies (Kanungo and Gupta, 2021; Kim et al.,
2018; Wellalage et al., 2021). This study extends these foci by analyzing
value creation potential from an inter-organizational SC perspective on
business model innovations. So far, this has been mainly analyzed at the
individual, organizational, and national levels (Xiao et al., 2013). Thus,
this paper addresses the following research questions: How can the
application of MFSs impact SC flows to create sustainable value for
micro-entrepreneurs in emerging economies, and which types of value
can be created?
To address this research gap, this study utilizes a case study approach
to gain in-depth insights into how local businesses and their SC members
can take advantage of sustainable value stemming from the application
of MFSs. The analysis draws on a theoretical framework that comprises
constructs from the field of technology-driven innovations (Prahalad,
2012), (sustainable) business models (Amit and Zott, 2001; Evans et al.,
2017; Lashitew et al., 2021), and (sustainable) SC management (Carter
et al., 2015; Pagell and Wu, 2009; Saeed and Kersten, 2017), as proposed
by Schilling and Seuring (2022).
In the following section, a literature review provides an overview of
technology-driven value creation potential in emerging economies from
a business model and SC management perspective. Section 3 covers the
methodology adopted in the study. In Section 4, the findings are pre­
sented. Sections 5 and 6 cover the discussion and conclusion of the
paper.
2. Theoretical background
Fig. 1 gives an overview of the research fields that will be linked in
the study. These include technology-based innovations enabling finan­
cial inclusion (Section 2.1), sustainable business models (Section 2.2),
and SC perspectives (Section 2.3). Levänen et al. (2022) established a
link between innovation and sustainable business model considerations.
ICT-enabled solutions enable producers in emerging economies to
Fig. 1. Theoretical foundation of this research.
2
Technological Forecasting & Social Change 192 (2023) 122596
capture sustainable value (Parthiban et al., 2021). Connecting the
application of ICTs to emerging economy SCs, Saldanha et al. (2015)
argued that the consideration of institutional pressures is crucial for the
successful implementation of SC technologies. To link the design of SC
transactions to value creation opportunities, Trkman et al. (2015)
introduced a business model approach to SC management. The elements
and interconnections shown in Fig. 1 will be described in more detail
subsequently.
2.1. Mobile financial services as a technology-driven innovation in
emerging markets
ICT innovations are a crucial factor in enabling value creation and
capture for producers in constrained market environments (Howell
et al., 2018; Lashitew et al., 2021). Moreover, awareness creation and
repeated engagements are essential mechanisms to trigger value crea­
tion processes (Parthiban et al., 2021). Financial service innovations
represent a promising field of technological application for improving
access to financial services in emerging economies (Berger and Nakata,
2013). These services help to overcome institutional voids in financial
markets that exclude a large part of society from financial services in
emerging economies (Kabengele and Hahn, 2021; Wellalage et al.,
2021). Reasons for this include a lack of access to bank branches,
especially in remote regions, and major administrative barriers
(Kabengele and Hahn, 2021). In particular, micro-entrepreneurs expe­
rience problems financing their working capital to maintain the flows of
their SCs (Sodhi and Tang, 2014). Digital technologies can help to sus­
tain the movement of SCs and serve as an SC financing solution by
reducing information asymmetries (Song et al., 2018). Kanungo and
Gupta (2021) argued that there is a need to move beyond the main­
stream view on financial inclusion by addressing the “overall well-being
through universal education, equitable healthcare, and parity in busi­
ness and employment” (Kanungo and Gupta, 2021, p. 9). This shows that
more detailed elaborations of the impact of financial inclusion at various
levels beyond single organizations are needed (Kim et al., 2018; Xiao
et al., 2013).
The most widely used ICT-based financial service in emerging and
developing countries are MFSs. They are mainly accessed via the web or
through unstructured supplementary service data (USSD)-based chan­
nels (GSMA, 2021)—and recently also via near-field communication and
L. Schilling and S. Seuring
quick response (de Luna et al., 2019). Since these markets feature
limited technological capabilities, less advanced and affordable in­
novations could help local communities to cope with limited capital
resources and weak logistical infrastructure (Hong et al., 2019) and
enable financial inclusion (Kanungo and Gupta, 2021; Lashitew et al.,
2019; Wellalage et al., 2021).
MFSs provide mobile money transfers among and between customers
and businesses, digital payments, cash-in, and cash-out options as well
as more advanced services, such as micro-credits, savings, and insurance
products (GSMA, 2021; Kim et al., 2018). In this study, MFSs are defined
as financial services provided through mobile devices that improve the
flow of financial resources as well as related information and physical
flows between buyers and suppliers (Song et al., 2018). The MFS
ecosystem consists mainly of mobile network operators (MNOs), banks,
and agents (Kim et al., 2018). MNOs and banks often work together to
provide MFSs since they can bring their expertise to the provision of
telecommunication and financial services. Agents are used to familiarize
the local population with the services, as they are part of the local
communities and are considered trustworthy. In addition, there are
exclusively bank-based and FinTech solutions, although they are less
widespread so far.
The current literature mainly addresses the successful adoption,
implementation, and diffusion of ICT-based financial services (Berger
and Nakata, 2013; Kabengele and Hahn, 2021; Koomson et al., 2021;
Lashitew et al., 2019; de Luna et al., 2019). This study goes beyond the
establishment of these services to examine the creation of value origi­
nating from their use. To this end, it is important to consider value
creation requirements that have been identified. As suggested by Pra­
halad (2012) and confirmed by Sengupta et al. (2021), innovations need
to fulfill four main characteristics to deliver value in less-developed
market environments: awareness, access, affordability, and availability.
• Awareness means that providers capture customers' needs and cus­
tomers have knowledge about related service offers and their usage.
• Access is ensured if local people can use the service independently of
their geographical location.
• Affordability requires that the expenses to use the services are in line
with the local communities' financial resources.
• Availability refers to the ability to use the service at any time.
2.2. Business model perspective on sustainable value creation
To examine the value creation processes and related outcomes driven
by ICT, Howell et al. (2018) and Parthiban et al. (2021) applied a
business model perspective. Business model considerations are more
important than actual technological advancements for achieving long-
term sustainable value creation through frugal innovation in emerging
markets, as even less advanced technologies can lead to radical business
model innovations and value creation opportunities (Levänen et al.,
2022). A business model perspective is helpful to elaborate on which and
how values are created (Freudenreich et al., 2020). Amit and Zott (2001)
argued that the value creation potential stemming from electronic
business transactions is driven “by the ways in which transactions are
enabled” (Amit and Zott, 2001, p. 493), with four main sources: novelty,
complementary, efficiency, and lock-in.
• Novelty means that new services, transactions, and participants can
be accessed.
• Complementarities can be created between products, services,
technologies, processes, or on- and offline assets while creating more
value together than each could on its own.
• Efficiency refers to the reduction of cost per transaction due to fac­
tors such as speed, scale, simplicity, and selection range.
• Lock-in value is related to switching costs and network externalities.
Iheanachor et al. (2021) used these four sources of value creation to
3
Technological Forecasting & Social Change 192 (2023) 122596
analyze the value creation potential of mobile money agents in Nigeria.
They found that these sources are essential for ensuring profitable and
sustainable business models in the long run. The present study extends
this perspective by analyzing value creation potential for small business
users of these services and their SC partners. Jain (2014) argued that
novelty, complementary, efficiency, and lock-in only serve as sources of
value creation in the context of emerging economies if they are inte­
grated into their institutional and infrastructural environment. Hence,
supply- and demand-related market restrictions must be considered
(Sodhi and Tang, 2014; Tarafdar et al., 2013). Local micro-
entrepreneurs face high transaction costs since their SC operations are
characterized by small, frequent transactions (Sodhi and Tang, 2014). In
sum, these conditions are constraints related to market, regulatory, and
socio-cultural aspects (Lashitew et al., 2021).
• Market constraints refer to weak product, capital, and labor markets
as well as infrastructural gaps.
• Regulatory constraints include inefficient and uncertain regulations
and political circumstances.
• Socio-cultural constraints comprise mistrust, high bonding (con­
nections within an individual's close network, such as family and
friends) and low bridging (loose relationships with strangers) social
capital, contractual considerations, and informal relationships.
On the one hand, the increasing complexities of these constraints can
be perceived as barriers (Jia et al., 2018; Silvestre, 2015). On the other
hand, “a larger number of opportunities in emerging economies arise
due to institutional voids (…) due to poorer institutional infrastructure”
(Jain, 2014, p. 85). Kabengele and Hahn (2021) showed how financial
market voids create business opportunities for MFS providers since
frugal innovations can help to cope with lacking financial markets
(Levänen et al., 2022). In turn, improved financial markets help to
overcome further related institutional voids and generate new value
creation possibilities for micro-entrepreneurs.
To measure associated values, “a holistic view of sustainable value
integrating economic, environmental and social value forms” (Evans
et al., 2017, p. 600) is needed while incorporating the needs of various
stakeholders (Freudenreich et al., 2020). To follow this approach, an SC-
wide perspective of value creation is adopted, considering the following
factors brought forth by Evans et al. (2017) and Saeed and Kersten
(2017).
• The economic dimension covers value creation in the form of sta­
bility and profitability, community-wide income distribution,
competitiveness, long-term viability, and sustainability
expenditures.
• Environmental value is created on the level of energy, material, and
land usage, waste and water management, emissions, and supplier
assessment.
• Social values comprise human rights, human resources, health and
safety, training and education, consumer issues, well-being, and
community development.
While the impact of MFSs on the environment has not been
researched, there is some evidence regarding their economic and social
effects. In terms of economic values, transaction costs can be reduced
(Howell et al., 2018), improving the performance of micro-enterprises
due to their financial inclusion (Gosavi, 2018; Wellalage et al., 2021).
On the social side, MFSs, and ICTs in general, have been found to
empower women in emerging economies while increasing their bonding
and bridging social capital (Crittenden et al., 2019; Parthiban et al.,
2020). While this shows that ICT can be a powerful tool to drive sus­
tainability forward, it remains unclear whether this holds for all three
sustainability dimensions on the upstream side of SCs within emerging
economies.
L. Schilling and S. Seuring Technological Forecasting & Social Change 192 (2023) 122596

2.3. A (sustainable) supply chain management perspective on value
creation
The literature covering MFS applications in emerging economies has
expanded considerably in the past decade, focusing on the impact of
MFSs on the individual (Berger and Nakata, 2013; Koomson et al.,
2021), organizational (Gosavi, 2018; Wellalage et al., 2021), national
(Lashitew et al., 2019), or organizational-national level (Kabengele and
Hahn, 2021), but very little of this research has considered their impact
on SCs. This is needed since small businesses face difficulties in accessing
money and managing their financial SC flows (Gosavi, 2018). To over­
come these problems, “innovations in the SC are seen as one of the most
promising ways to create new [business models]” (Trkman et al., 2015,
p. 589). Consequently, this research takes a business model approach to
SC management (Trkman et al., 2015) based on Amit and Zott's (2001)
and Iheanachor et al.'s (2021) elaborations on the enablement of new
transactions from an organizational business model perspective. SC
business models consist of various organizational business models
linking their products, employees, processes, partners, and customers
(Trkman et al., 2015). Applying a business model approach to SC
management is important since “supply chain management (…) [has] a
special responsibility due to [its] focus on enhancing wealth creation,
designing successful delivery of products and services, determining so­
cially responsible distribution, and managing global complexity” (Hong
et al., 2019, p. 76). An SC management perspective helps to understand
with and for whom value is created (Freudenreich et al., 2020) while
considering the physical, information, and financial flows that support
the flow of products (Carter et al., 2015), as done by Bals and Tate
(2018) in an emerging market context.
• Information flows refer to information being shared between SC
members (and/or supportive institutions).
• Financial flows are monetary transactions between SC members
(and/or supportive institutions).
• Physical flows consist of product movements from the origin to the
customer or in the opposite direction (and/or supportive
institutions).
(2020) showed that electronic commerce (e-commerce) companies
facilitate the flow of information, financial, and physical SC flows,
thereby improving SC capabilities.
Focusing on SC designs in resource-constrained environments, Bals
and Tate (2018, p. 72) argued that “physical material and support flows
are purposefully combined to deliver [economic, environmental, and
social] outputs and/or outcomes.” Sustainable outputs are mainly
created on the level of physical flows, while sustainable outcomes stem
from financial and information flows (Bals and Tate, 2018). Accord­
ingly, sustainable SC management is defined as the management of in­
formation, financial, and physical flows while considering sustainability
issues (Seuring and Müller, 2008). Pagell and Wu (2009) presented new
sustainable SC management behaviors, such as re-conceptualizing the
SC's actors and establishing continuity through transparency, trace­
ability, certification, and decommodization.
• Re-conceptualizing refers to the establishment of new non-
traditional SC members.
• Transparency relates to the disclosure of (financial) information
among SC members to ensure mutual value creation.
• Traceability refers to the accessibility and management of informa­
tion relating to materials, processes, and working conditions.
• Certification means the attestation of social and environmental ac­
tions and outcomes.
• Decommodization describes the process of differentiating highly
standardized goods.
While these behaviors are highly relevant in the context of emerging
economies (Khalid and Seuring, 2019), few studies have considered
sustainable SC management behaviors of micro-entrepreneurs operating
in developing countries. When doing so, it is necessary to consider the
informal and restricted conditions leading to complex situations (Khalid
and Seuring, 2019; Silvestre, 2015).
Table 1 provides an overview of the constructs introduced in the
literature review and applied in the analysis.
3. Methodology

In informal market contexts, the management of SC flows needs to be
done differently since different cultures, infrastructures, and regulations
are in place (Parmigiani and Rivera-Santos, 2015). This research follows
the argumentation of Saldanha et al. (2015, p. 5), recognizing that there
is a “need to reassess our mental models developed in the West” to match
these to constrained market environments (Parmigiani and Rivera-
Santos, 2015). Sodhi and Tang (2014) argued that ICT can help to
lower transaction costs for local businesses with limited market access
and reach, weak distribution networks, limited selection ranges, and
poor input and output prices. Based on this, ICT facilitates information
sharing in the SCs of small- and medium-sized enterprises operating in
emerging markets if issues related to environmental uncertainties,
governance structures, and interpersonal mechanisms (e.g., trust and
distrust) are considered (Mirkovski et al., 2019). Further, Wang et al.
This section describes how the case study was carried out, including
the case selection, data collection, analysis, and research quality.
3.1. Approach and case selection
This research aims to “[execute] empirical research using pre-
existing conceptual ideas (…) as a basis for developing new theoret­
ical insights by (…) structuring theoretical constructs and relations to
account for and explain empirical observations” (Fisher and Aguinis,
2017, p. 441). For this theory elaboration, a case study approach was
chosen (Eisenhardt, 2021; Fisher and Aguinis, 2017). This approach is
appropriate for investigations within new topic areas and for obtaining
insights in specific settings while not focusing solely on theory building
or testing (Eisenhardt, 1989, 2021). A case study helps to gain a

Table 1
Constructs covering the field of frugal technology-driven innovations, business models, and SC management.
Construct Reference Dimensions

Digital innovations
Electronic business value creation
Value creation constraints
Sustainable (SC) value creation and performance
SC flows
Sustainable SC management
a
Applied in a constrained market environment.
Prahalad, 2012a;
Sengupta et al., 2021a
Amit and Zott, 2001; Iheanachor et al., 2021a
Lashitew et al., 2021a
Evans et al., 2017; Levänen et al., 2022a; Saeed and
Kersten, 2017
Bals and Tate, 2018a; Carter et al., 2015
Khalid and Seuring, 2019a; Pagell and Wu, 2009
Awareness, access, affordability, and availability (4As)
Novelty, complementary, efficiency, and lock-in
Market, regulatory, and socio-cultural
Economic, environmental, and social benefits
Information, financial, and physical
Re-conceptualizing, transparency, traceability, certification, and
decommodization

4
L. Schilling and S. Seuring
comprehensive understanding of the application of MFSs in emerging
economy SCs within its empirical context (Yin, 2018). As the primary
aim is not the generalization of the investigated phenomenon, the
distinct real-world context remains important throughout the study
(Yin, 2018). This intensive rather than extensive research approach fa­
cilitates understanding the structure of the constructs under investiga­
tion in depth and comprehensively in their real-world context (Easton,
2010). Thus, we see a case study as the most appropriate research
approach to identify the mechanisms of value creation, related chal­
lenges, and hidden consequences along the micro-entrepreneurs' SC.
Alternative approaches such as surveys or experiments can help to
generalize and validate the proposed framework and examine related
behavioral intentions in the next step. However, they would not allow
identifying the mechanisms in the first place. Besides, we decided
against an ethnographic study as we did not see that an immensely
greater investment of time could have been justified by significantly
better insights to answer our research questions. To cope with a large
number of variables of interest, theoretical constructs (Table 1) were
selected to guide the research process (Yin, 2018). Following a critical
realist approach, “the study of any situation (…) if the process involves
thoughtful in depth research with the objective of understanding why
things are as they are“(Easton, 2010, p. 119) is justified.
To select suitable cases, first, boundary conditions were defined to
ensure the cases' alignment with the research question (Voss et al.,
2002). Second, a replication logic was used to identify the sample (Voss
et al., 2002) by determining representative cases predicting similar re­
sults. The two cases of Pakistan and Sub-Saharan African countries
(Ghana, Kenya, Mozambique, and Uganda) were selected since both
regions exhibit less developed and informal market environments, and
thus “the focal phenomenon is likely to occur” (Eisenhardt, 2021, p.
149), which ensures their suitability for answering the research ques­
tion. Both contexts show medium-to-low human development and are
ranked between 143 and 181 on the Human Development Index (HDI)
(United Nations Development Programme, 2020). Their gross domestic
product (GDP) per capita shows similar values and development pat­
terns (World Bank, 2020), which makes these countries fairly compa­
rable for this study, allowing to predict similar results (Eisenhardt,
2021). Pakistan's HDI and GDP are close to those of other South Asian
countries (United Nations Development Programme, 2020; World Bank,
2020) and can thus be seen as representative of the whole region. Within
the last decade, there has been a rapid increase in the number of mobile
cellular subscriptions and people using the internet in Pakistan and Sub-
Saharan African countries (World Bank, 2019). This underlines the
increasing relevance of mobile applications in these markets as well as
the suitability and similarity of the two cases (Eisenhardt, 2021). The
investigation of these two different regional contexts of South Asia and
Sub-Saharan Africa strengthens the generalizability of the findings and
Table 2
Data sample of the Pakistani (P) and Sub-Saharan African (A) cases.
Pakistan
Providers # of interviews 2 managers
(country)
Sector (interviewee E-Commerce (#8P, #9P)
ID)
Users # of interviews 10
(country)
Occupation Dealer: Textile (#1P, #4P, #11P), jewellery (#13P, #15P), food
(interviewee ID) (#16P), automotive spare parts (#3P)
Producer: Textile designer (#12P), baker (#2P, #14P)
Services used JazzCash (Jazz, Mobilink Microfinance Bank), EasyPaisa (Telenor
(provider) Microfinance Bank)
Researchers # of interviews 4 1 (Kenya)
(country)
Field (interviewee ID) SC management (#5P, #6P, #10P), marketing (#7P)
Σ 16
5
Technological Forecasting & Social Change 192 (2023) 122596
reduces observer bias (Voss et al., 2002). This is also supported by the
consideration of countries from Western (Ghana) and Eastern (Kenya,
Mozambique, and Uganda) Africa. Including several counties within a
single case lowers the likelihood of selection bias caused by a non-
representative sample.
3.2. Data collection
Snowball sampling was applied for data collection since the informal
market environment in which micro-entrepreneurs operate in emerging
economies necessitated connecting to participants through a local con­
tact person. Most of the services considered in this study are offered by
MNOs that cooperate with banks or vice versa. Further, e-commerce
platforms started to offer payment services recently. Based on theoret­
ical constructs (Table 1), semi-structured interviews (Bell et al., 2015)
were conducted with providers and micro-business users of MFSs as well
as researchers. Managers of service-providing companies and agents
serving as over-the-counter contact points in the supply of MFSs were
interviewed as providers. Most agents also operate small shops selling
textiles or electronics and use the MFSs for their business operations as
well. Interviewing managers and agents allowed us to develop a thor­
ough understanding of the services provided. In addition, interviewing
micro-entrepreneurs from various industries provided a holistic
perspective on how MFSs impact their SC flows. In this study, small-scale
businesses were considered to be those operated by one or two persons.
SC researchers with a Pakistani or Sub-Saharan African background
were interviewed to gain more comprehensive insights. In the Sub-
Saharan African case, one interview with an agent was excluded due
to a weak internet connection and poor recording quality. Table 2 and
Fig. 2 provide an overview of the data sample and the interviewed
micro-entrepreneurs' SC structures.
Native people from Pakistan and Sub-Saharan African countries were
involved in the data collection process to ensure access to the field and
overcome cultural barriers. Depending on the participant's educational
level, the interviews in Pakistan were either conducted in Urdu or En­
glish to reduce language barriers. The interviews in Urdu were trans­
lated into English. To reduce linguistically induced biases and to ensure
correct interpretation, the translations were double-checked by a second
person native in Urdu (Pansera and Owen, 2015). Since all Sub-Saharan
African interviews were conducted in English, the interviewers had to
frame the questions in a less open way than in the Pakistani case to
ensure that they were properly understood. To achieve consistency be­
tween different interviewers, all interviews were based on the same
interview guide (Appendix, Table A.1), whose common understanding
had been ensured through several discussion rounds before data
collection. Before the interviews were conducted, the interviewees
agreed to voluntarily participate in the research study. In addition, they
Sub-Saharan Africa
7 agents
(Ghana: 3, Kenya: 2, Uganda: 1, Mozambique: 1)
MNO (#2A, #3A, #4A, #7A, #8A, #9A, #13A)
5 (Uganda)
Dealer: Cosmetics (#5A, #10A)
Producer: Farmer (#12A), baker (#6A, #11A)
Airtel Money, AirtelTigo Money, MoMo Pay (MTN), M-Pesa
(Safaricom, Vodafone), Vodafone Cash
SC finance (#1A)
13
L. Schilling and S. Seuring
Fig. 2. SC flows of the Pakistani (P) and Sub-Saharan African (A) MFS providers and focal micro-entrepreneurs.
were ensured that their privacy would be maintained throughout the
entire study. The interviews, which lasted 20 to 100 min, were con­
ducted between April and August 2021 via phone call or video telephone
software, and all were recorded and transcribed. If internet connection
issues caused communication problems, the interviewees were asked to
answer the question again or the interviewers repeated the answer to
ensure that it was correctly understood. In the Pakistani case, the
analysis of three interviews was based on the interviewer's notes since
recording was not possible. The collected data were triangulated (Yin,
2018) by interviewing users, providers, and researchers. Additionally,
the interview data were enriched with other sources, such as the MFS
providers' websites and annual reports in the event contrary statements
were found in the interviews. Data triangulation and comparison of the
findings across different settings (e.g., Pakistan and Sub-Saharan African
countries) helped to increase the study's validity (Yin, 2016).
3.3. Data analysis
The gathered data were analyzed using a qualitative content analysis
(Kuckartz, 2018; Mayring, 2010; Yin, 2016) with the help of MAXQDA.
The unit of analysis was the micro-entrepreneurs' SC flow influenced by
MFS (Fig. 2). The analysis was based on five phases (Kuckartz, 2018). In
the planning phase (1), the research question was formulated, the
theoretical elements introduced in the literature review were selected,
and a sample was formed. Next, the development phase (2) focused on
the categorization of the theoretical elements and the definition of the
coding rules. The data were coded against the constructs introduced in
the literature review (Table 1). The constructs serve as main categories
and the respective dimensions as subcategories. For the first three con­
structs shown in Table 1, two category levels (main category and sub­
category) were used, while the latter three constructs in Table 1 were
coded against a second level of subcategories to allow for more detailed
analysis and testability (Eisenhardt, 2021). In addition to these
6
Technological Forecasting & Social Change 192 (2023) 122596
deductive theoretical pre-considerations, two inductive constructs and
respective subcategories were added. Building the analysis on theoret­
ical pre-considerations allows for analytic generalization of the case
study's findings (Eisenhardt, 2021; Yin, 2018), while the addition of
inductive elements helps to overcome restrictions associated with either
of the approaches (Bell et al., 2015). In the third phase (3), the category
system was tested and improved to ensure reliability and that the codes
are both disjunctive and exhaustive (Kuckartz, 2018). Subsequently, the
material was fully coded, and each code was rechecked to ensure con­
sistency (4) and, subsequently, evaluated (5). All (sub)categories, de­
scriptions, and exemplary quotations are provided in the Appendix
(Table A.2).
3.4. Research quality
Maintaining a database containing interview records and coding
enables the repetition of the research process and increases its reli­
ability, which is a prerequisite for ensuring validity (Mayring, 2010).
Construct validity was achieved through the application of a common
interview guide, whose suitability was ensured through various dis­
cussions among the researchers and informants (Yin, 2018). Further,
data triangulation from different sources helped to reduce bias. Internal
validity was ensured through the involvement of local contact people in
the derivation of the findings. Moreover, pattern matching between the
theoretical elements and the deduced empirical findings strengthened
the study's internal validity (Eisenhardt, 2021; Yin, 2018). The appli­
cation of existing theoretical elements and analysis of multiple cases
contributed to the external validity of the study (Yin, 2018).
4. Findings
Micro-entrepreneurs and small-scale businesses use MFSs mainly for
mobile money transfers to support their local business operations. In
L. Schilling and S. Seuring
Fig. 3. MFS-enabled sources of value creation addressing emerging market constraints, adapted from Schilling and Seuring (2022).
rare cases, international transactions are executed, or more advanced
services are used. Therefore, mobile money transfer between businesses
is considered to be the main service being used, while advanced services
like mobile banking are complementary. The results show that MFSs
with emerging market-friendly characteristics drive value creation
despite being subject to ICT challenges (Fig. 3: Drivers). This is achieved
through mobile business transactions and sustainable SC management,
which overcome the constraints of SCs in emerging markets (Fig. 3:
Process). This process takes place at the level of information, financial,
and physical flows, leading to the creation of sustainable value for
micro-entrepreneurs and their SC partners (Fig. 3: Outcomes). Besides
the creation of sustainable value, some negative unintended conse­
quences result from the execution of transactions via MFSs (Fig. 3:
Outcomes). Fig. 3 provides an overview of the interaction of the con­
ceptual elements being introduced, and Table 3 summarizes the induc­
tive elements and subcategories being added. In line with the selection
of cases leading to similar results (Voss et al., 2002), most effects were
observed in Sub-Saharan Africa and Pakistan. However, some aspects
were predominantly evident in one of the two contexts. This will be
further explained in the following analysis of the drivers, processes, and
outcomes of value creation.
4.1. Drivers: MFS characteristics threatened by ICT challenges
MFSs have certain characteristics that contribute to successful
implementation and widespread distribution in emerging economies.
The associated advantages are particularly evident when comparing
MFSs with traditional bank systems. In the following, four key charac­
teristics of MFSs are illustrated: awareness, access, affordability, and
availability. Awareness of MFSs is created through advertisements and
Table 3
Overview of inductive elements.
Construct Dimensions
ICT challenges Weak infrastructure
Mobile scams
Lacking trust
Limited amounts
Formal environment
Unused potentials
Hidden negative consequences Generous spending
Fraud
Risk to social structure
7
Technological Forecasting & Social Change 192 (2023) 122596
omnipresent service providers. Opening an MFS account is easy for less
educated people reluctant to open bank accounts since only a few doc­
uments need to be provided. Moreover, no advanced technical knowl­
edge is needed. Mobile services accessed via USSD Codes, web-based
applications, and a widespread network of agents facilitate access for
masses in rural areas, as most people have access to a mobile phone. In
contrast, banks are rare in rural areas and tend to be located in urban
areas. Opening an MFS account and depositing money is free, although
regular charges do exist. The transaction charges for mobile money
transfers, if they exist, are affordable, particularly if a mobile account is
used. However, the charges increase if an agent is involved in sending or
withdrawing money or if transactions between different MFS providers,
bank accounts, or unregistered users are executed. Additionally, MFS
providers allow the execution of small amounts of transactions that a
bank might not be able to conduct. Unlike banks, mobile services are
available 24 h a day seven days a week as long as the mobile (internet)
network is not down. Aside from automated teller machines (ATMs),
traditional banking services can only be accessed during the bank's
business hours.
While these characteristics are the foundation for the application of
MFSs, their success is mitigated by some ICT service provision chal­
lenges, such as poor ICT infrastructure and mobile scams (Table 3). In
Sub-Saharan Africa, scams (e.g., spoof calls) were mentioned by almost
all interviewees, but this was less evident in Pakistan. Pakistani micro-
entrepreneurs were more hesitant to use the MFS due to a lack of
trust. They only gained confidence in the new service over time, trusting
the established banking system rather than MFS and its network of
agents. In Sub-Saharan Africa, the banking system seems to be less
accessible to local communities. Consequently, Sub-Saharan Africans
were more familiar with MFSs and their network of agents. Pakistani
business users criticized the limits on transactions and saving amounts
set by MFS providers. Thus, the service is only useful for small amounts,
inhibiting business growth. Another aspect harming the application of
MFSs is the documentation of transactions. Some users indicated that
they value such transparency, whereas others fear the formal business
environment and do not want to have any records, allowing, for
example, easier tax compliance. While most users are aware of the ex­
istence of more advanced services, such as insurance options, they have
mostly not used these services and only plan to do so in the future. This
means that some potential has not yet been exploited. Despite these is­
sues, awareness, access, affordability, and availability are important
requirements for the application and value creation of MFSs in emerging
economies.
L. Schilling and S. Seuring
Table 4
Emerging market constraints (A–G) being addressed by value creation sources (1–6).
1 2
Novelty Complementarity
(M-business (M-business
transaction) transaction)
Market size Financial F.
A Information F.
(Market) Physical F.
Infrastructure
B
(Market)
Financial
Financial F.
C resources
Physical F.
(Market)
Emerging market D Regulatory
constraints Social capital
E Information F.
(Socio-cultural)
Contractual
F compliance
(Socio-cultural)
Informal
G environments
(Socio-cultural)
F. = Flow, M-business = Mobile business.
4.2. Process: sources of value creation addressing emerging market
constraints
Constraints within the context of emerging markets (Table 4, row
A–G) are addressed through various sources of value creation (Table 4,
columns 1–6), which are facilitated by the application of MFSs. This
process of value creation takes place on the level of information,
financial, and physical SC flows (Table 4, filled cells). In the following,
the interaction of emerging market constraints and sources of value on
the level of the three SC flows will be explained. Where the cells in
Table 4 are empty, no evident interaction could be found.
• A1: Mobile money applications enable frequent transfers of small
amounts of money, helping to reach new business partners and
customers living in distant regions, as the money can flow indepen­
dently of the product and the businesses' physical location. In addi­
tion, mobile payments allow micro-entrepreneurs to sell products to
people reached through social media advertisements or communi­
cation channels such as Facebook or WhatsApp. Reaching new
markets helps to reduce the limited market size in emerging
economies.
• A2: Complementarities between MFSs and added services providing
information (e.g., market trends, performance data, and operational
advice) help micro-entrepreneurs position themselves better in the
market and improve their access to opportunities. Still, many
advanced services are not frequently used.
• B3: MFSs enable more efficient transactions since they are simple to
use. With just one click, users can send and receive payments. This
enables the decoupling of financial and physical SC flows. The
money can flow between suppliers and customers independently of
the mode and time of delivery chosen. Thus, poor physical infra­
structure and banking networks, which restrict mobility and
complicate business operations, can be bypassed. From the
perspective of physical flows, more efficient product deliveries are
enabled by circumventing issues such as a lack of cash at the point of
delivery.
• A4 & B4: The more business partners and customers use MFSs, the
greater the success in the fight against limited markets and poor
infrastructure due to positive network externalities. The network of
MFSs has increased in recent years because operations between
different mobile communication networks and banks are possible.
Further, users are incentivized to stick to the service and use it for
8
Technological Forecasting & Social Change 192 (2023) 122596
Sources of value creation
3 4 5 6
Efficiency Lock-In Transparency Traceability
(M-business (M-business (SSCM (SSCM
transaction) transaction) behavior) behavior)
Information F.
Financial F.
Financial F. Information F.
Physical F. Financial F.
Financial F.
Physical F.
Information F.
Information F.
Financial F.
Physical F.
Information F.
future transactions since they have built trust in the service over time
and receive financial benefits, such as discounts and informative
offers.
• C2: First, complementarities are created between online and offline
operations. People not having an MFS account can also receive
payments with their national identity card. Digital payments at the
doorstep as well as depositing and withdrawing cash at a kiosk are
enabled by agents being equipped with respective payment systems.
This allows users to take maximum advantage of the online and
offline worlds, as solely online-based systems are not yet practical in
emerging regions. Second, complementary services are provided in
addition to mobile money transfers. These comprise (microfinance)
loans, savings, and bill payment options. Loan opportunities depend
on how actively an account is used and the level of savings. While
Sub-Saharan African micro-entrepreneurs use loan and saving op­
tions frequently, this is not the case in Pakistan, where people have
more trust in the traditional banking system for such transactions.
Third, complementarities occur between SC members. If the finan­
cial and physical in- and outflow of one member changes, those of
the interconnected members do so as well. Micro-entrepreneurs
receiving immediate payments from their customers on or after de­
livery or even in advance can then order new materials from their
suppliers and speed up their production processes. These three forms
of complementarities facilitate access to financial resources for
micro-entrepreneurs operating in emerging economies.
• C3: Access to financial resources, particularly working capital
financing, is facilitated by faster financial SC flows. Compared to
cash-on-delivery payments, which can take two to three weeks, MFSs
enable immediate money transfers. In turn, more frequent cash flows
allow micro-entrepreneurs to scale up their businesses since less
money is bound in the cash cycle. Payments can be made promptly at
any time, enabling more flexible payment conditions. Accelerating
the flow of money also increases the speed of the physical SC in terms
of timely procurement. This is also evident in the management of
reverse logistics, as cash operations delay the return process. Addi­
tionally, there are efficiency gains due to wider input selection
ranges. Micro-entrepreneurs can source lower-cost and higher-
quality inputs, which reduces their financial pressure.
• D5: Timely information regarding payment histories can be accessed
via MFS accounts or agents. This includes the account numbers of
customers and suppliers, the time of payment, and the amount of
money being transferred. This creates a more transparent and
L. Schilling and S. Seuring Technological Forecasting & Social Change 192 (2023) 122596

regulated business environment and makes illegal payments and the Table 5
circumvention of tax payments more difficult. The creation of sustainable value.
• E4: Users face high switching costs since trust in the MFS provider is Sustainable values Process of value creation (Table 4)
built over time. Providers try to establish relationships with their
Economic
customers by sending them customized information and offerings. To Profitability B3, C3, F3
increase trust in the provided services, providers verify the accounts Competitiveness A1, A2, B3, C2, C3, D5, F3, F6, G5
and agents before the MFS can be used. This trust makes users feel Distribution of financial resources A1, A2, B3, C2, C3
comfortable using the service and helps to overcome the low Environmental
Emission reduction B3, F3
bridging social capital in emerging economies, something which is Material and waste management A2
predominantly observed in Pakistan. People tend to prefer doing Social
business with others within their close social network. MFSs help to Human rights C2, C3
establish loose but increasingly numerous business relationships Health C2, C3
Safety D5, F3, F6, G5
with people with whom they have not been in contact before.
Community development A1, A2, B3, C2, C3
• F3: Pre-payment options and prompt payments increase the belief Training and education A1, A2, B3, C2, C3
that customers will fulfill their obligations and comply with the Lock-in effects (A4, B4, and E4) increase all the other values being created.
terms of the contract. On the one hand, this helps suppliers to have
A-G = Rows of Table 4 (market constraints).
certainty that payments will be executed since they will be received 1–6 = Columns of Table 4 (sources of value creation).
on time or even before delivery, and customers are less likely to re­
turn a product they have already paid for. On the other hand, this
(Table 4, columns 1–6) help to overcome market constraints (Table 4,
also applies to refunds from suppliers in the event the customer de­
rows A–G). This leads to the creation of sustainable value (Table 5) as
cides to return the product. Returning the money in a cash-on-
well as unintended negative consequences (Table 3). While the process
delivery transaction takes almost two weeks, while MFSs allow im­
of value creation takes place on the level of SC flows, the resulting value
mediate returns.
emerges at the individual, organizational, and national levels. This is
• F6: Advanced MFS solutions enable the tracking of product flows and
outlined in the following.
provide customers with related information. Further, geofencing the
From an economic perspective, micro-entrepreneurs can operate
delivery ensures that the product can only be marked as delivered
more profitably since more efficient transactions save time and money,
when it is physically in the correct location. Keeping track of product
helping to improve their cost–benefit ratio. The competitiveness of
delivery increases customers' belief that suppliers will fulfill their
micro-entrepreneurs using MFSs compared to those not using these
contractual obligations. The use of such solutions is only evident in
services is enhanced through a combination of all pairs of market con­
the Pakistani case.
straints and sources of value creation found in Table 4. Market reach,
• G5: When transactions are executed in person, people do not bother
financial access, as well as reduced infrastructural challenges contribute
to make any record, especially at the small business level, in
to a better distribution of financial resources within the country. First,
emerging economies. Mobile payments that generate a record of
MFSs make the establishment of small-scale businesses for disadvan­
payment help to tackle issues stemming from informal relationships.
taged communities easier. Second, financial resources can be spread
This creates a more certain business environment, and micro-
faster and more frequently from urban to rural areas and from affluent to
entrepreneurs are no longer exposed to undocumented business
disadvantaged communities.
transactions, such as one business partner blaming the other because
Environmental value is created since fast and simple mobile trans­
they mistakenly believe a certain amount was not paid. Conse­
actions eliminate the need to travel to distant areas for payments or
quently, this also indirectly has a positive effect on contractual
refunds. Compared to cash on delivery, logistics are reduced. Only the
compliance (F).
product and not the money needs to be physically moved, which elim­
inates the need to process the money after delivery. In addition, faster
The sustainable SC management behaviors of re-conceptualizing,
deliveries reduce the likelihood that the customer will return the
certification, and decommodization were not (yet) found to be trig­
product at the doorstep. In turn, the reduction in traffic helps to reduce
gered by the application of MFSs in Pakistan or Sub-Saharan Africa.
carbon dioxide emissions. In addition, improvements in material and
These can be seen as more advanced sources of value creation, which
waste management were observed in a few cases in Pakistan related to
might be achieved in the future if existing sources are further utilized.
the provision of complementary information and return services.
While most effects can be observed in both cases, a few existing
On the social side, various types of value can be created. The
differences indicate that the application of MFSs in Pakistan is more
observance of human rights can be improved since MFSs ensuring access
controversial but also more advanced than in Sub-Saharan Africa. This
to financial resources contribute to the satisfaction of individuals' daily
can be concluded from the fact that Pakistanis were more skeptical
basic needs and the empowerment of women. The former is achieved
about mobile transactions, whereas Sub-Saharan Africans suffered more
since the service allows access to financial resources whenever needed.
from online scams due to a lack of technological education. In addition,
The latter is achieved since women are particularly disadvantaged in
Pakistanis complained more about limited transaction amounts (e.g.,
terms of access to the traditional banking system as well as mobility
JazzCash allows a maximum value of 50,000 PKR per transaction),
opportunities. Further, the around-the-clock availability of emergency
whereas these limits do not seem to restrict the business operations of
and health insurance options has a positive impact on users' health, as
Sub-Saharan African micro-entrepreneurs. In Sub-Saharan Africa, MFSs
money is available in case of an unexpected health problem. MFS users'
are used for complementary services, such as obtaining loans, while
safety can be increased since the service provides a secure and cashless
Pakistanis tend to use the traditional bank for such matters. However,
method for monetary transactions, helping to prevent fraud and rob­
they use MFSs in combination with advanced tracking and geofencing
beries. This is due to the ability to trace product flows as well as the
applications. Despite the slightly different application levels, the main
creation of a more formal business environment through records of
line of argumentation applies to both cases.
payments. In line with improved financial distribution, MFSs contribute
to the development of disadvantaged communities, as they empower
4.3. Outcomes: sustainable value creation and unintended negative
people to implement their business ideas. By offering micro-
consequences
entrepreneurs access to new markets, financial resources, and informa­
tion services and reducing infrastructural boundaries, MFSs have a
In the process of value creation, the various sources of value creation

9
L. Schilling and S. Seuring
positive impact on the level of knowledge of local individuals, enabling
the exchange of ideas and experiences, something that was mainly
observed in Pakistan.
Lock-in effects (Table 4: A4, B4, and E4) motivate micro-
entrepreneurs to utilize the service not only for today's transactions
but also in the future. Consequently, they increase the environmental,
social, and economic value creation outlined above.
Besides the sustainable values being created, there are some unin­
tended negative consequences caused by the application of MFSs for
business transactions (Table 3). First, the propensity to spend generously
increases. This might harm a business' long-term survival. Second, the
risk of falling into the wrong hands rises. Business operations are con­
ducted more anonymously since transactions rely less on traditional
informal and personal relationships. Finally, MFSs can also harm the
social fabric, as observed in the case of Pakistan. People tend to be very
protective and take care of the people around them. This protectiveness,
which is partly rooted in financial dependency, might diminish, thus
reducing the bonding social capital within the community.
In line with the argumentation in the previous section, most types of
sustainable value can be observed in both cases, while a few, such as
improving waste and material management as well as training and
education—representing more sophisticated values—were only evident
in the Pakistani case. Further, arguments about social capital improve­
ments or disruptions only arose in Pakistan. Whether this was caused by
cultural differences between these regions needs to be answered by
future research.
5. Discussion
Theoretical and practical implications can be derived from the
findings under the consideration of certain limitations.
5.1. Theoretical implications
In line with Howell et al.'s (2018) notion of ICT-driven value creation
potential in emerging markets, this study adopts an SC business model
perspective on the sustainable value creation opportunities that ICT-
driven financial innovations can deliver for small businesses operating
in emerging economies. To date, no study has examined the value cre­
ation of technology-based innovations based on their impact on SC
business models (Fig. 1). This research moves beyond the organizational
business model perspective of Amit and Zott (2001) and Iheanachor
et al. (2021) by applying an SC management perspective (Trkman et al.,
2015). This provides an opportunity to analyze with and for whom value
is created in emerging market SCs.
While existing research has focused mainly on the adoption
(Kabengele and Hahn, 2021; Koomson et al., 2021; de Luna et al., 2019;
Sengupta et al., 2021), implementation (Berger and Nakata, 2013), or
diffusion (Lashitew et al., 2019) of ICT in emerging economies (Berger
and Nakata, 2013; Kingiri and Fu, 2020; Prahalad, 2012; Xiao et al.,
2013), this research responds to the call of Xiao et al. (2013, p. 274) to
focus on “how ICT innovations can (…) enhance organizational pro­
ductivity and business value (…) and contribute to the global competi­
tiveness of a firm.” This is done by analyzing how mobile business
transactions and sustainable SC management behaviors impact the SC
flows of small business users (Table 4). Further, the comprehensive
framework presented in Fig. 3 strengthens the understanding of the
interplay between local conditions (ICT challenges and emerging market
constraints) and the application of technological innovations (MFS
characteristics and sources of value creation) in fostering sustainable
value creation. Based on this, the following key insights can be derived:
• The awareness, access, affordability, and availability of MFSs are
crucial prerequisites enabling sustainable value creation processes in
micro-entrepreneurial SCs in emerging economies.
10
Technological Forecasting & Social Change 192 (2023) 122596
• The successful application of MFSs by micro-entrepreneurs in
emerging economy SCs is hindered by weak technological infra­
structure, mobile scams, limited trust and transaction amounts, a
formalization of the business environment, and yet-untapped
potential.
• Local circumstances play a crucial role in addressing these chal­
lenges, as shown in Pakistan and Sub-Saharan African countries.
• A value creation process can occur, as the sources of value creation
address the market, regulatory, and sociocultural constraints faced
by micro-entrepreneurs in emerging markets.
• The value creation process takes place independently of regional
differences, albeit in different manifestations depending on prevail­
ing ICT application levels.
• The application of MFSs contributes to the economic and social
empowerment of micro-entrepreneurs operating in emerging econ­
omy SCs while positively impacting the environment.
• MFS-enabled value creation is threatened by triggering generous
spending, online fraud, and harming the traditional social structure.
The literature on MFS applications in emerging economies has
expanded considerably in the past decade, focusing on their impacts on
the individual (Berger and Nakata, 2013; Koomson et al., 2021), orga­
nizational (Gosavi, 2018; Wellalage et al., 2021), national (Lashitew
et al., 2019), and organizational–national levels (Kabengele and Hahn,
2021). This research extends these perspectives by focusing on inter-
organizational transactions, which makes it possible to analyze the
impact of MFSs on the management of information, financial, and
physical SC flows. In this way, Tarafdar et al.'s (2013) finding that ICT
reduces the market separation of producers and customers in emerging
economies is enriched by identifying SC flows and sources of value
creation targeting market separation.
Focusing on sustainable value creation opportunities for micro-
entrepreneurs and their wider communities, this research contributes
to the literature on the upstream side of SCs within emerging economies
(Tate et al., 2019). It shows how micro-entrepreneurs use ICT to over­
come infrastructural constraints, poor cash flows, and limited access to
financial resources (Lashitew et al., 2021; Parmigiani and Rivera-Santos,
2015). The resulting financial inclusion (Kanungo and Gupta, 2021; Kim
et al., 2018; Wellalage et al., 2021) ensures not only access to these
resources but also the economic and social participation of small busi­
ness owners (Kanungo and Gupta, 2021). As this study shows, this can
only be achieved if MFSs have certain characteristics that make their
application feasible. This result is in line with previous findings showing
that affordable and accessible inclusive financial systems can be created
with the help of collaborative strategic partnerships among banks, agent
networks, MNOs, and others (Iheanachor and Umukoro, 2022). In
contrast to the present study, Iheanachor and Umukoro (2022) investi­
gated these requirements not from the user side but from the provider
side.
5.2. Practical implications
First, this research helps micro-entrepreneurs and small organiza­
tions to understand that the application of MFSs leads to more efficient,
transparent, and traceable SC flows as well as novel transactions and
complementary services. This facilitates access to (financial) markets
and the implementation of new business ideas, especially for women. In
addition, it helps micro-entrepreneurs to strengthen their liquidity in the
short term and their profitability and competitiveness in the long term.
The development, education, and social upgrading of local communities
can be supported in this way. While this has been demonstrated pri­
marily for merchants, bakers, and farmers, the results might have
broader implications for manufacturing operations in the future. The
MFS-induced transparency, reach, and efficiency of payment flows en­
ables micro-entrepreneurs to engage in the manufacturing sector, which
has a higher value-added potential.
L. Schilling and S. Seuring
Second, the transparency and traceability of information, financial,
and physical SC flows help to reduce fraud against business partners
(contractual compliance) and the government (regulatory compliance).
This has important implications for micro-entrepreneurs' competitive­
ness and their operational safety, which is ensured by compliance with
regulations.
Third, this research has implications for international organizations
and multinational companies operating in emerging economies as the
application of MFSs has positive implications for individuals and com­
munities in disadvantaged regions. For example, health and safety
standards can be upgraded to enhance individuals' quality of life. On a
national level, income distribution, community development, and
gender equality can be driven forward. The possibility to use MFSs
empowers disadvantaged communities and allows them to implement
their business ideas, at least on a small scale, while allowing them to
access markets, financial resources, and mobility—things that were
previously denied to them.
Fourth, the paper's practical relevance stems from the provision of
insights for companies offering ICT applications. It offers a deeper un­
derstanding of MFS characteristics that are important to small business
owners in Sub-Saharan Africa and Pakistan, which make them useful for
their daily business operations and the ICT challenges they face. In this
context, it is important that ICT providers consider the local conditions
of the country of implementation, as the results show, for example, that
the use of MFS is more controversial but also more advanced in Pakistan
than in Sub-Saharan Africa.
5.3. Limitations and future research
This research differentiates between the cases of Pakistan and Sub-
Saharan African countries. This poses two limitations. First, in the
case of Sub-Saharan Africa, different countries (Ghana, Kenya,
Mozambique, and Uganda) are considered as a single context, and
regional differences are not taken into account. Still, the usage of MFSs
has played an increasing role in the selected Sub-Saharan African
countries in recent years, and many cultural characteristics overlap in
the selected Sub-Saharan African countries. Second, in one case different
countries are considered, whereas the other case consists of only one
country (Pakistan). This inconsistency is due to the limited access to
empirical data from emerging economies.
The findings of this research are based on qualitative content anal­
ysis, which is useful for obtaining thorough insights into the impact of
MFSs on the SC flows of micro-entrepreneurs. To generalize and verify
these findings, future research should conduct a quantitative analysis,
for example, based on surveys. The findings of this study could serve as a
foundation for such research.
Content-wise, this research focuses on how technology-driven SC
business model innovations impact local business operations in
emerging economy contexts. Future research could extend this focus by
analyzing how ICT influences the access of emerging economy operators
to global value chains. In particular, studies could focus on how ICT
changes the power relationship between up- and downstream SC
members within global value chains and the implications this has for the
value distribution among different stages of the SC. The current research
shows that some sustainable SC management behaviors are triggered by
the application of MFSs, while others, such as re-conceptualizing, cer­
tification, and decommodization, are not. Future research could analyze
whether these behaviors can be facilitated by other ICTs involving more
technicalities than MFSs.
6. Conclusion
This paper “[structures] theoretical constructs and relations to
11
Technological Forecasting & Social Change 192 (2023) 122596
account for and explain empirical observations” (Fisher and Aguinis,
2017, p. 441) and thus elaborates how technology-driven SC business
model innovations in the form of MFSs enable sustainable value creation
in the local SCs of underdeveloped economies. MFSs can unfold their
potential because micro-entrepreneurs are aware of the services being
provided, and those services are accessible, affordable, and available to
them. While these characteristics enable the utilization of MFS in
emerging economies (Prahalad, 2012), it is essential to overcome the
existing ICT challenges faced by users to strengthen the impact of the
services. If issues such as unstable networks, a lack of trust, and misuse
of the network are not addressed, MFSs will not spread further and will
thus not realize their untapped potential.
The use of MFSs creates economic, environmental, and social value
for micro-businesses and their wider communities (Table 5). First,
micro-entrepreneurs can operate more profitably and increase their
competitiveness since transactions are designed more efficiently.
Financial resources are better distributed due to the facilitation of
money flows between distant regions. Second, MFSs eliminate the need
to travel for monetary transactions, resulting in emission reductions and
thereby improving environmental performance. Third, and from a social
perspective, MFSs improve access to financial resources and product
markets, helping to empower disadvantaged communities and contrib­
uting to their independence and development. However, there are also
negative unintended consequences stemming from the application of
ICT in business transactions, such as the propensity to spend more
generously, victimization and abuse, and endangered social relation­
ships. Service providers and other public actors need to educate users to
counteract these threats.
This study shows how the process of sustainable value creation works
in constrained business environments (Table 4). MFSs address these
constraints, which are related to market access, regulations, and socio-
cultural conditions, through information, financial, and physical SC
flows. By influencing these flows, MFSs facilitate mobile business
transactions delivering novelty, complementary, efficiency, and lock-in
gains. Moreover, they also increase the transparency and traceability of
SCs. These sources address the constraints faced in Sub-Saharan African
countries as well as Pakistan, although minor differences in terms of
progress in the use of MFSs are apparent. In Pakistan, entrepreneurs
have been more critical of MFSs, but they are also used in a more
advanced way, which allows for further value creation.
CRediT authorship contribution statement
Lara Schilling: Conceptualization, Methodology, Formal analysis,
Investigation, Writing- Original draft preparation, Visualization.
Stefan Seuring: Conceptualization, Methodology, Writing-
Reviewing and Editing, Funding acquisition.
Declaration of competing interest
None.
Data availability
The authors do not have permission to share data.
Acknowledgments
This research has received funding from the German Academic Ex­
change Service (DAAD) under the German–Pakistan research coopera­
tion (Grant numbers 57459038 and 57567483).
L. Schilling and S. Seuring Technological Forecasting & Social Change 192 (2023) 122596

Appendix A
Table A.1
Interview Guideline (Questions were adjusted for the different interviewees).

Introduction and Mobile Financial Service (MFS) basics

• Could you say something about yourself and your business?

• Please explain how and what kind of MFSs you use and with whom you interact while using the service.
• What challenges do you face while using the MFS?
• Do you want your customers and suppliers to sign up for the same MFS you use?

SC flows

• Can you describe how your financial flows changed by using MFS compared to a situation with cash transactions or
traditional (online) banking?
• What kind of information can be accessed via MFSs?

Sources of value creation

• How do MFSs change the way of delivering products?

• How do MFSs impact your cash in- and outflows?
• In which way do MFSs impact the flow of your products?
• How do MFSs influence the monitoring of transactions?
• Does the usage of MFSs enable you access to other related services?
• Does the usage of MFS help you to implement new business models or reach new business partners?

BoP challenges

• What characteristics do MFSs have which make them useful for you?
• I would like to know more about the issues/challenges you face(d) while implementing MFSs?
• What kind of challenges do you face in your daily business?
• How can MFSs help to overcome these challenges?

Outcomes

• How does the usage of MFSs impact the economic and strategic position of your business?
• What kind of social benefits do MFSs provide to you and the wider community?
• Do you think the service has a positive effect on nature?
• If you could advise a new application to improve the value creation of MFS, what would this look like?
• Do you perceive any negative effects or potential risks caused by the application of MFSs?

Table A.2
Coding categories and exemplary quotations.

Main category Subcat_1 Subcat_2 Description Exemplary quotations

MFS characteristics Awareness – People know about the service offer and It is very simple to open account with JazzCash as
Prahalad (2012) how to use it compared to bank account, as so many verifications are
required by banks to open an account. (#4_Interview
Pakistan_04.05.2021, Pos. 28)
The customers are not educated enough to know how to use
an ATM machine. So, what they do is that they use human
beings as terminals and those human beings they prefer to
be the retailers. (#5_Interview Pakistan_05.05.2021, Pos.
38)
M-Pesa really got the trust of the majority citizen who are
quite low or low-level citizen if I use that term. The poor in
the society who are underserved by the big banks. Telling
them that we are there for you. (#1_Interview
Africa_13.04.2021, Pos. 67)
Access – People can use the service independently I can access the service through web-based means by their
from their physical location mobile application and also, if you do not have application,
you can also use it through your mobile means. There is a
code available for that. I can access to my JazzCash account
by using that code through mobile or SMS you can say.
(#11_Interview Pakistan_27.06.2021, Pos. 22)
And the fact that M-Pesa can be used with this low-budget
phones that are not smartphones really helps in the
penetration of M-Pesa into the deep and interiors of Kenya.
(#8_Interview Africa_30.06.2021, Pos. 63)
Some banks are not near where we stay but you may find
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Table A.2 (continued )

Main category Subcat_1 Subcat_2 Description Exemplary quotations

that from here up to there is a mobile money. You find it

direct over 30 mobile money is in one place.
(#12_Interview Africa_09.07.2021, Pos. 70)
Affordability – Service costs match users' purchasing I think yes, if they have this JazzCash I think they can send
power it to other networks as well, but they will have to pay like
higher kind amount of fees. So, people prefer to receive in
the same manner. Like if they are using JazzCash, then they
will go for the JazzCash, but I think it is possible, yes. It is
possible to send, but with a higher amount of money.
(#10_Interview Pakistan_26.06.2021, Pos. 24)
Means if I have some money in my account or if I transfer
money to another; for example; I top up in my mobile, they
do not charge me for that transaction. They also do not
charge extra amount; (#11_Interview Pakistan_27.06.2021,
Pos. 72)
They do need improvements because the main
disadvantage of using M-Pesa is that the costs of
withdrawing money, they are very high. (#2_Interview
Africa_28.05.2021, Pos. 51)
Actually, people get M-Pesa accounts before they have bank
accounts. Especially low-income earners. (#8_Interview
Africa_30.06.2021, Pos. 18)
Availability – The service can be used at any time Every time you can do a transaction, as long as you have
money on your phone. (#5_Interview Africa_28.06.2021,
Pos. 72)
You cannot go and make transactions at the bank. Onto
mobile money, you can make your transactions even in the
midnight. You can still make your transactions. You can
still send money and do your business. (#9_Interview
Africa_01.07.2021, Pos. 68)
ICT Challenges Weak technological – Infrastructural issues prevent the But again, if some sort of problem occurs in the electronic
infrastructure application of the service system because the payment is dependent on the electronic
system, so, in case of any kind of problem like this, there are
the disadvantages as well. You may have to wait for a very
long. Just like we observed on Eid that people were facing
some sort of issues due to the electronic matters.
(#7_Interview Pakistan_28.05.2021, Pos. 28)
Sometimes they are also facing network issues.
(#4_Interview Africa_28.06.2021, Pos. 54)
Mobile scams – Misuse of the service network harms the Risk can be like prank calls or fake calls that you have won a
usage of the service prize and to process that request, all you have to do is
transfer a certain amount of money through JazzCash, I
have experienced this once, but not frequently. As this app
is used on a wider scale now, so there is always a risk of
scams, and you need to be very vigilant. (#13_Interview
Pakistan_15.07.2021, Pos. 84)
They tell you to check your balance, your account balance.
When you are doing that, they are moving into your
account and that is not safe for any customer. Some are not
that educated. They call the person and say they will send
you money and the person is ready to check. (…) By the
time you realize it, your money is not in your MTN account.
A lot of Ghanaians are complaining about that.
(#3_Interview Africa_16.06.2021, Pos. 84)
Lacking trust – Security concerns and doubts prevent the But still, people are a bit hesitant in order to kind of pay
application of the service online or open up their mobile wallets, and activate the
mobile wallets. So, cash is something which people still do
to rely on, cash on delivery. (#8_Interview
Pakistan_09.06.2021, Pos. 24)
Because they are insecure of the momo. They are scared.
They will tell you that it is not secure for them, for their use.
Then you will give them the cash. (#4_Interview
Africa_28.06.2021, Pos. 121)
Limited amounts – Transaction limits restrict the field of For improvement if they increase the money limits, so, it
application would be more easy, there is per day limit, per month, limit
on receiving, limit on sending and limit on total amount in
an account so there are many limits. Other than that, there
is also limit on transferring from bank to JazzCAsh or
Easypaisa or vice versa. If they extend that money limits, it
would become more easy. (#14_Interview
Pakistan_26.07.2021, Pos. 92)
Yes, their money limit is very less, if they expand this limit,
it will be more beneficial and big business can also use this.
(#16_Interview Pakistan_09.08.2021, Pos. 72)
Formal environment – Regulated environments being created by And one other thing is that people tend to be
the service cause its non-usage undocumented, so, that they obviously do not need to pay a
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Table A.2 (continued )

Main category Subcat_1 Subcat_2 Description Exemplary quotations

certain amount of tax to the government as well.

(#8_Interview Pakistan_09.06.2021, Pos. 46)
Currently, the government is taxing a lot on the momo.
Now we have taxes, we indicate from next month going.
(#4_Interview Africa_28.06.2021, Pos. 66)
Unused potential – Services not being used reduce the field of Yes, they are providing some sort of insurance. I think it
application was a life insurance or a mobile screen insurance. I once go
through it, but no I do not use it for my business. No, I have
never been using it for business. (#12_Interview
Pakistan_09.07.2021, Pos. 48)
Yes, I can and they also call you to inform about their
services, but I have not used any of their except money
transfers. (#14_Interview Pakistan_26.07.2021, Pos. 62)
BoP constraints Market Market size Service helps to overcome difficulties in And to reach the target customer, the reachability. I mean
Lashitew et al. reaching markets sourcing and on both sides as a customer to find the right kind of vendor
(2021) distributing products and for the vendor to find the target customers. That
reachability and the transaction problems these were the
two challenges which this new system has successfully
tackled. (#6_Interview Pakistan_22.05.2021, Pos. 50)
So, getting like for a young business to find distribution is
really challenging. Where are they going to put their
product? In this day and age, the internet is democratizing
everything, right? They can go online, you know, it is not
like back in the day there were only three stores, or you had
to go to a thousand utility stores to place your product (…).
You have access to a democratic institution where you can
actually place your product. (#9_Interview
Pakistan_10.06.2021, Pos. 62)
For example, my sister sells clothes online and she literally
gets paid by M-Pesa. She posts in Facebook, people book it
on Facebook, she sends to them, they measure if the cloth is
okay with them and then they pay. (#1_Interview
Africa_13.04.2021, Pos. 28)
Infrastructure The service helps to overcome mobility It was cash on delivery. So, I told the guys ‘look, it is eleven
restrictions in the morning, I am not at home, I am in the office. You are
welcome to come deliver to my office or I will be home after
8 p.m., you can bring then. There is nobody at home to take
the delivery because nobody at the house has cash’. Which
is another source of friction with cash on delivery.
(#9_Interview Pakistan_10.06.2021, Pos. 56)
If you do not have mobile money, then it leads you to put in
a lot of costs using maybe taxis, Boda Boda, moving in
various places. (#12_Interview Africa_09.07.2021, Pos. 48)
Access to financial Service helps to overcome constraints For me, I think liquidity or the cash cycle efficiency have
resources caused by lacking access to resources been increased because I think six months before I used to
get the cash after fifteen days. So, there was a lag present
there and now I get the transaction before shipping the unit.
(#12_Interview Pakistan_09.07.2021, Pos. 32)
Suppliers can receive payment on time which is very
beneficial. Customers can also take benefits as they order
supplies from us and even if they do not have money on
time, they can JazzCash us the payment later.
(#16_Interview Pakistan_09.08.2021, Pos. 80)
Yes, I mean, you see sometimes you want to do something
(…) even business wise maybe you want to purchase
something, and you do not have enough cash but you are
sure in three days you will be having that cash. But maybe
the products that you want to buy are only available today.
What you do is that you just borrow by them and in three
days when you get the money, you pay back. (#8_Interview
Africa_30.06.2021, Pos. 59)
Regulatory – Service helps to overcome constraints Eighty percent of the businesses we deal with do not want
caused by lacking rules to pay taxes. We are a company that has foreign investment,
so, (…) we cannot play around with this stuff. The bar is too
high. So, we have to collect tax on every single transaction
and as an intermediary, the government requires us to
collect that. (#9_Interview Pakistan_10.06.2021, Pos. 52)
But when these types of things come in, I think the system
becomes more regulated. It gives opportunities to
businesses to play much more safer and hence a good
growing economy. (#12_Interview Pakistan_09.07.2021,
Pos. 74)
Normally corruption is generally via cash. Because when I
send the police, or a politician, or someone in a big office
money by M-Pesa, I have the evidence. But when you give
the real cash, there is no evidence. The system is converted
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Table A.2 (continued )

Main category Subcat_1 Subcat_2 Description Exemplary quotations

that every payment should be done via mobile money then

it combats to a specific range the amount of corruption in
some places because then traffic police cannot collect their
fifty schillings they collect every time (#1_Interview
Africa_13.04.2021, Pos. 58)
Socio-cultural Social capital The service helps to overcome challenges I am talking from the perspective of Pakistani mindset. (I:
caused by high bonding (within a group) Sure.) I mean we are always very possessive and very
and low bridging (between a group) social protective of the people around us. (#6_Interview
capital Pakistan_22.05.2021, Pos. 62)
Like they tend to work within their own bubble, they do not
want to shatter those boundaries that they have there on
their own. (#10_Interview Pakistan_26.06.2021, Pos. 50)
Contractual The service increases the belief that each So, there is a risk that this parcel may or may not get
compliance party will fulfill its contractual delivered, right? And historically, they have had no way to
obligations. track whether something got delivered or did not get
delivered or when it got delivered. And our solution to that
was just digitizing the process. (#9_Interview
Pakistan_10.06.2021, Pos. 73)
Yes, definitely as I told you that if you want to refund
something and you want to send back that amount which
you have received from your customer, so, it is very very
easy you can easily send that amount instantly to your
customer in terms of refund so, yes, they are happy they
trust you next time so you are not like taking time and
making your customer wait for so long yes this is very very
helpful. (#15_Interview Pakistan_07.08.2021, Pos. 66)
Some companies prefer pre-payments but also established
companies. Those established companies which send you a
proforma invoice, then they send you an invoice, then when
you pay, they will send you a receipt. (#8_Interview
Africa_30.06.2021, Pos. 77)
Informal The service reduces the risk stemming They are just conducting business transactions on trust and
relationship from informal transactions. word-of-mouth only, right? Records are not maintained. So,
at least this electronically mediated transactions like
JazzCash and Easypaisa, they at least brought some
structure to a highly informal segment of the market. At
least, they brought some structure to this and at least, they
have tried to cover some of the voids. (#5_Interview
Pakistan_05.05.2021, Pos. 50
The records cannot be shown with cash transaction. That is
why I told you can deposit like 20.000 someone will add a
zero or deduct a zero and blames you for not sending the
right amount. But with mobile money, you have the
security. (#5_Interview Africa_28.06.2021, Pos. 80)
Sources of value Novelty New participants The service connects previously I like clothes from Karachi and Faisalabad more than
creation unconnected (suppliers and customers) Lahore. So, I like their designs, I buy from them and then
Amit and Zott sell those clothes in Lahore. This is now possible. So, I do
(2001) not visit them and buy from them by going to Faisalabad,
rather I ask them to show the products online and then I can
buy them. In this way, I do not need to travel, in case when
there is a new vendor from new city, then I have to visit that
hardly one or two times, otherwise, I do not need to travel
to that city, this all work is now done online.
(#11_Interview Pakistan_27.06.2021, Pos. 60)
This is bringing a very positive impact in my business
because I am getting some new customers and they are
paying form M-Pesa. (#2_Interview Africa_28.05.2021,
Pos. 62)
And now when you advertise something you know you will
not be getting customers from your area you will be getting
customers from very far. Mobile money really came
through to them. (#8_Interview Africa_30.06.2021, Pos.
79)
New transactions The service enables new ways of So, it is totally the buying power of the customer. These
transaction microfinance institutions are just successful because they
are offering an electronically mediated transaction of even
a few ten rupees. You can just send one hundred rupees or
two hundred rupees even which a bank might now allow,
for example. An ATM machine does not offer you cash
lesser than five hundred rupees, right? In an ATM machine
in Pakistan, they have currency in the nominations of five
hundred. If you want to withdraw one hundred rupees, no
ATM will offer you. But if you go to a retailer and in your
JazzCash account you have five hundred rupees, you can
even withdraw ten rupees or twenty rupees. (#5_Interview
Pakistan_05.05.2021, Pos. 48)
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Table A.2 (continued )

Main category Subcat_1 Subcat_2 Description Exemplary quotations

And helping them to do business with as little as possible.

You can send as little money as possible as long you send
the withdrawal fee, M-Pesa still works for the people who
would previously not do. (#1_Interview Africa_13.04.2021,
Pos. 46)
Complementarity Between online and The service connects mobile and physical When a rider goes to the customer he will have a mobile
offline transactions to exhaust together credit card machine or an app-based payment system where
opportunities you can pay with your banking app through a QR code, you
can pay with JazzCash or Easypaisa through a QR code or
we can swipe your credit card on the sport instead of taking
cash (#9_Interview Pakistan_10.06.2021, Pos. 48)
Easypaisa like I do not have any account with it, so, I went
to the Easypaisa franchise and I showed them my ID card
number and my phone number (#15_Interview
Pakistan_07.08.2021, Pos. 20)
By now because of this MTN mobile money, you do not
have to go to the bank, you just come to us to cash out your
money. (#3_Interview Africa_16.06.2021, Pos. 12)
Between services The service adds value additions to the So, what we started doing was we started generating
core service to exhaust together reports for our customers saying ‘x numbers of your orders
opportunities are now t + 1 days old. Just so you know. (…). So, that tells
the business teams how many the average aging would. So,
we were aging their orders for them. (#9_Interview
Pakistan_10.06.2021, Pos. 56)
They have many characteristics like the foremost is the bill
payment, for example, we can pay our groceries, gas, water,
electricity bills through JazzCash. Other than this we can
easily load through these services on our mobile, this is also
an important feature. Else we can purchase bus tickets and
train tickets online through these services. JazzCash has
much influence on our daily life transactions.
(#16_Interview Pakistan_09.08.2021, Pos. 66)
And for those people who are really customers of M-Pesa
deep, there is also an app that is connected to them I think it
is M-Farma or something for farmers. They also get
information of when to plant and when to harvest.
(#1_Interview Africa_13.04.2021, Pos. 36)
You can pay your health insurance, you can pay by using M-
Pesa, you can save money. I do not know if you know
Xitique. Xitique is a way of saving money. Today I keep
100, tomorrow I keep 200. By the end of the month, they
give you back this money. M-Pesa has this service.
(#2_Interview Africa_28.05.2021, Pos. 40)
I go to MoKash, I save maybe let me say fifty thousand and I
withdraw a hundred thousand. The more you save, in the
future the money will accumulate. Then you withdraw the
other amount that you have saved. When you have a big
problem and you have not the money, you can still go to
MoKash and they give you a loan. Whatever loan that you
want, that you qualify for. Then you pay in installments.
(#11_Interview Africa_08.07.2021, Pos. 20)
Between SC The service impacts SC in- or outflows of at Because before using JazzCash we have to wait many weeks
processes least two SC members to exhaust together for receiving the payments but now the situation has
opportunities changed, now when we make deal with customers or
suppliers it takes only two minutes to send and receive
payments and likewise, we can order from suppliers quickly
then. (#4_Interview Pakistan_04.05.2021, Pos. 46)
It is like the same as now I can get advance payments, and
when I have to buy something, I do not stress over it that I
have to invest more money from my own, I just purchase
things from that advance payment. (#14_Interview
Pakistan_26.07.2021, Pos. 48)
My mum pays the initial farmer using M-Pesa. Because look
at it like this, most of these farmers or farms are found
totally not in Eldoret (…) really, where my mum stays in
the town I found in the very much deeper, in the rural of
Eldoret. My mum is sending to Nairobi but my mum stays in
Eldoret. But in Eldoret there is Kapsaret which is really in
the rural. This farmer stays there with their big farms. The
transaction between my mum and the farmer also takes
place literally on mobile. (#1_Interview Africa_13.04.2021,
Pos. 18)
Efficiency Selection range The service enables more options to So, that they can buy like relate to new suppliers they are
choose between suppliers more reliable and more cheap, but before that they were
not accessible to this services and your network.
(#10_Interview Pakistan_26.06.2021, Pos. 46)
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Table A.2 (continued )

Main category Subcat_1 Subcat_2 Description Exemplary quotations

If they are cheap I can still get from outside Uganda. If they
are cheaper compared to what they require here, I can buy.
In terms of transportation, I can also compare charges, even
quality matters. Not everything that is important is good.
You have to look at quality. (#5_Interview
Africa_28.06.2021, Pos. 14)
Transaction speed The service allows transactions to be It is like when I send through Pakistan Post they take so
executed within a shorter period much time to deliver like four to five days and the cashback
process is same it takes one and a half week to get my
money back. Other services like DHL and Leopards courier
do not take so much time and when customer send me
money online through JazzCash, I can easily receive it
without any delay. It is impacting cash flows in a way that I
get the payment instantly.
(#13_Interview Pakistan_15.07.2021, Pos. 48)
Yes, indeed there is a huge difference. If someone has
placed an order, he or she does not have to come physically
for advance payment, they can pay online, in such a way his
or her exertion is saved. (#14_Interview
Pakistan_26.07.2021, Pos. 78)
It makes it faster and more simple because the time we use
to move to meet a person you sending money is more costly,
the transport. But now when you use mobile money to send,
we just need the charges. Because some people are far, so,
the transport you use is more high than the costs that you
incur just sending. (#11_Interview Africa_08.07.2021, Pos.
62)
Transaction The service increases the ease of Yes, it is very convenient like you can pay bill at your home
simplicity transacting by staying in your home you do not need to stand in the
lines like you do in your old time you have to go to the bank
and standing there in the lines. It is very easy with the help
of JazzCash that you just need to click through your
smartphones and your bills your credit card payments
(#15_Interview Pakistan_07.08.2021, Pos. 14)
And also another advantage is (…) maybe you want to pay
someone maybe say 2950 and you see some people do not
have change, so it is really helpful when you pay via M-Pesa
because the exact amount causing. Instead of paying maybe
3000 and then you do not get change and it complicates the
whole transaction for their payments. (#8_Interview
Africa_30.06.2021, Pos. 39)
Economies of scale The service helps to increase the number So, it is not a question of cash in or cash flow for that
of transactions particular region, it is for cash in or cash flow all over
Pakistan and scale up their business kind of exponentially
increases whatever they are earning at the current time.
(#8_Interview Pakistan_09.06.2021, Pos. 34)
Lock-in Switching cost People will stick to the service based on For this purpose, when customers pay through JazzCash,
incentives and trust they knew that this app is properly verified. For example,
there were more chances of fraud before and now there are
less chances, but this process is verified as it is not possible
for a person to create three accounts on one ID card
number. A person can have one account on his/her ID card
number, so it is easy to verify. (#4_Interview
Pakistan_04.05.2021, Pos. 44)
We are trying to incentivize people more and more to buy
more products online and more products on the pre-
payment model. (#8_Interview Pakistan_09.06.2021, Pos.
63)
Positive network People will stick to the service if their Like for others for example my customers if they are
externalities business partners and customers use the comfortable with some other network or application, they
service as well can also send me money. I can receive money on my
JazzCash account from any other network and I can pay
money from my JazzCash account to any other network, as
other network or other application is not a hurdle in
transfer of money. (#11_Interview Pakistan_27.06.2021,
Pos. 32)
And I have few friends that are MTN. That is one of the main
points why I use Airtel. (#12_Interview Africa_09.07.2021,
Pos. 36)
Sources of value Transparency – The service records information about the From my JazzCash (…) the information is like for example
creation flow of money if my customer makes payments, it is receivables for me and
Pagell and Wu I can get information like the identity like if you make
(2009) account on JazzCash you need identity and card number. So
it is then visible to the person you are sending money to. I
have maintained ledger of all customers as well like I can
get information regarding customer A has sent me money,
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Table A.2 (continued )

Main category Subcat_1 Subcat_2 Description Exemplary quotations

customer B has sent me money. There is also a tracking ID

number which you say TS ID number. I can get information
like you received payment against this tracking ID number.
Likewise, if I go on my JazzCash application history, I can
get information like who has sent me money, if sometimes
you know you are busy and you overlooked that
information, you can always find information in history as
well as you also get a message on mobile that who has sent
you money and how much amount have you received. The
information regarding payments, receipts, date, time,
amount, and person who send that amount is available in
application. (#11_Interview Pakistan_27.06.2021, Pos. 46)
If you did transactions today, you would ask for that list of
your transactions and MTN money would send you all the
transactions you did that day and all the money will (…) all
transactions will display on your phone. And when your
customer makes a payment, he takes a screenshot and sends
it. Then I confirm if this is the amount of money he has sent.
(#5_Interview Africa_28.06.2021, Pos. 86)
Traceability – The service helps to track product flows And I can even track the merchandise as well that where it
is. So, it is like a double benefit and double advantage that
not only can I keep a track of the monetary transaction, but
I can even have a track of the product or the service that I
am expecting. Why would I not prefer that? (#6_Interview
Pakistan_22.05.2021, Pos. 22)
And our solution to that was just digitizing the process. So,
first of all, the entire process is digital. So, at the time that
we show up at their warehouse and scan the package, from
that time to the time that the customer receives it, at every
step the parcels. (…) The second piece is, we geofenced the
delivery. So, every delivery person has to mark a package
delivered. (#9_Interview Pakistan_10.06.2021, Pos. 73)
Sustainable outcomes Economic Profitability The service improves the firms' cost- Mobile financial services or mobile banking services are
Evans et al. (2017), benefit ratio through more efficiency making it more efficient I believe. It is saving their cost of
Saeed and Kersten transactions which includes time and other efforts. So, it is
(2017) a source of efficiency for the businesses I believe.
(#7_Interview Pakistan_28.05.2021, Pos. 28)
I do not have to go to the bank to make deposit. With that
time, I have gone to the bank, the customers are not coming
around. I am in the shop and still sell (…). (#9_Interview
Africa_01.07.2021, Pos. 114)
Competitiveness The service improves the firm's market So, my customers are very happy with this feature that if
position they do not like my product, so, I offer them to exchange or
refund, so, when I refund them so it is very easy instantly I
send their money back, so, they like this just because of
JazzCash. (#15_Interview Pakistan_07.08.2021, Pos. 38)
I can see a positive impact in my business because every day
I am receiving new customers and they are paying with M-
Pesa. My customers are increasing, they are paying from M-
Pesa. (#2_Interview Africa_28.05.2021, Pos. 77)
Distribution of The service facilitates the flow of money There are special icons for donations for Edhi and donations
financial resources within society for others, and you can click on that icon and donate as
much as you can, their account number is mentioned there.
(#13_Interview Pakistan_15.07.2021, Pos. 80)
It is very beneficial for the people who have come from
rural areas to urban areas for work. They can send their
salary or income to their homes easily without traveling.
(#16_Interview Pakistan_09.08.2021, Pos. 92)
It is really worth it because for people who are staying in
cities want to bring help to their families, they then use
mobile money instead of traveling back to the village
because it will be more expensive but mobile money is
cheaper. (#6_Interview Africa_30.06.2021, Pos. 58)
Environmental Emission reduction The service lowers the need to overcome Now, it is digital cash transfer, I do not have to visit my
physical distances by vehicle supplier and my customer do not have to visit as well, petrol
consumption is reduced as there is no need to travel and
carbon emissions are also reduced. Sound pollution will
also be reduced. Noise pollution due to heavy traffic is also
reduced. (#11_Interview Pakistan_27.06.2021, Pos. 92)
According to right here, people are traveling less. They use
their nearby mobile money agent to do withdraws and get
the money rather than going to the bank. (#6_Interview
Africa_30.06.2021, Pos. 91)
Material and waste The service supports using less and more Now how these financial services have made her more
management eco-friendly materials and managing aware of her environment. It is like what material she was
reverse material flows using. (#6_Interview Pakistan_22.05.2021, Pos. 60)
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18
L. Schilling and S. Seuring Technological Forecasting & Social Change 192 (2023) 122596

Table A.2 (continued )

Main category Subcat_1 Subcat_2 Description Exemplary quotations

So, one thing which we have done over the last twelve
months or so is we have reduced the plastic bags and we
have shifted more in boxes, the cardboard boxes. (…) So,
we have kind of tried to recycle whatever we have thrown
out into the market as well. So, one thing is we kind of use
recyclable plastic material for all those envelopes which the
product does come in. (#8_Interview Pakistan_09.06.2021,
Pos. 58)
Social Human rights The service contributes to the satisfaction The people who live in rural areas, do not have bank
of daily basic needs and equality account or sometimes the female in rural areas do not go to
bank, so for them it is very easy to make payments through
JazzCash without any doubt. (#4_Interview
Pakistan_04.05.2021, Pos. 28)
Previously, when there was no M-Pesa, if you do not have
something, for example, any food or any money to buy food
then that means you either borrow it from a relative far and
need to come far with your money and all these. Versus
now, you can get this money directly from the M-Pesa app.
Within M-Pesa you can get a loan, an emergency loan or
you can get the money from your relatives who can always
send the money via M-Pesa. (#1_Interview
Africa_13.04.2021, Pos. 48)
Health The service widens access to health And other than that, like with these health benefits, yes. For
services example, if someone is in the hospital and mostly it happens
there as well. So, the doctor said like ‘we need to operate it
right now’, but they are like two kilometers away from their
home. So, how they can manage it? Because most of the
time they do not have a bank and even if they have a bank,
the bank will be closed by that time, maybe it is evening
time. So, when they have this account the person who is
back home that he can send that money to them. So, they
can just withdraw at the same time, and you can just pay for
that. (#10_Interview Pakistan_26.06.2021, Pos. 68)
It is not only if someone dies but insurance like, let us say
accident insurance. And hospitals too, they will give you
money for those things. (#3_Interview Africa_16.06.2021,
Pos. 52)
Safety The service provides a secure way for My customers mostly pay to me by transferring money to
monetary transactions my account through JazzCash as it is more secure and then I
can transfer the money to suppliers. You can also withdraw
money from account, but I am reluctant doing so. I do not
withdraw the money as it is safe in the account, and I just
pay my vendor online through JazzCash. (#11_Interview
Pakistan_27.06.2021, Pos. 12)
With cash it hands somebody can give you fake money but
for mobile money it is hard because if someone owes you
some money, it comes on your phone and you check to
verify whether it is on your phone and it is there
(#6_Interview Africa_30.06.2021, Pos. 38)
Community The service helps people to implement Actually, people are, I just mentioned previously people
development their business ideas living in rural areas or in the economically backward areas,
they basically frequently use such kind of services in
making financial transaction, so, in fact, you know that they
cannot easily read and write, but while doing such kinds of
transactions they are very familiar of the things.
(#7_Interview Pakistan_28.05.2021, Pos. 59)
So, one thing which we started to give value is to the
customers that they can start their business from
everywhere, they do not need a very big investment, they
do not need a very big logistic service on any physical
product or good idea and a good supply chain.
(#8_Interview Pakistan_09.06.2021, Pos. 67)
The best thing with mobile money besides, most of the huge
startups use it. It is the quickest business strategy you can
start up. It is not too expensive to start. It is a matter of
saving maybe in an account, on your bank account you
save, and you can start. (#12_Interview Africa_09.07.2021,
Pos. 109)
Training and The service has a positive impact on the But the students they are so well aware, this is again
education locals' level of knowledge another thing, because of the term that I previously used for
that was the global neighborhood. Now, they are much
much more aware of what is happening all around the
world. They know that what are their rights, and they know
that what are the boundaries within which they can work.
(#6_Interview Pakistan_22.05.2021, Pos. 54)
Ultimately when they get the money, they will spend more
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19
L. Schilling and S. Seuring Technological Forecasting & Social Change 192 (2023) 122596

Table A.2 (continued )

Main category Subcat_1 Subcat_2 Description Exemplary quotations

money on the education of their children and something

like that. (#10_Interview Pakistan_26.06.2021, Pos. 78)
Negative impacts Generous spending – Using the service leads to excessive For me there is one personal risk or like negative thing is
expenditures like when I am dealing with these transactions, I spend a lot
of money that I should not. Decreasing my saving because
when I have to pay like hard cash money, I know that I will
have to count, and I will think about it why I am wasting
that much of money. (#10_Interview Pakistan_26.06.2021,
Pos. 70)
If you are not wise enough, you will spend your money (…)
once it is accessible as it is with you always. You can quickly
use it at any time as compared to the money you have from
the bank. Whenever you may walk into the bank, they give
you some advice and be there for you but with the mobile
money you always have the money with you. (#9_Interview
Africa_01.07.2021, Pos. 122)
Fraud – Using the service facilitates cheating on Yes, if the products which I ordered from my supplier, some
transaction partners of them are damaged or not the same as I ordered, design is
changed or the color is different. When I return those
products and demand the amount in my account, then they
became rigid like they say you can order any other thing
from us, but we cannot return the amount now. Problem is
then created that I cannot have my amount back and other
products are also not good. (#11_Interview
Pakistan_27.06.2021, Pos. 98)
I think fraud is the main challenge and also you will find
that some people who sell things online (…) they advertise
their product, then they tell you to send the money to them
for them to ship the products to you but you will find that
when you send the money, maybe they deactivate that line
or they block you from their end and you do not get your
product. (#8_Interview Africa_30.06.2021, Pos. 73)
Risk to social – Using the service unbalances the social So, and this protectiveness it might have its roots in the
structure fabric financial dependency. I mean the youngsters are dependent
on the parents or the eldest because of the financial aspect.
So, once they get this thing on their own, so, that
dependency will not be there anymore. So, it might disturb
the social setup or the social fabric. (#6_Interview
Pakistan_22.05.2021, Pos. 62)

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Lara Schilling was born in Heidelberg, Germany in 1996. She holds a Bachelor of Science
in business administration from the University of Mannheim and a Master of Science in
sustainability management from the University of Kassel. Since 2022, she works as a
research assistant and PhD student at the department of Supply Chain Management at the
University of Kassel. Her research covers the intersection of sustainable supply chain
management and the digital transformation. A related line of research relates to emerging
economy contexts such as South Asia and Sub-Saharan Africa.
Stefan Seuring was born in Fulda, Germany in 1967. He is full professor of Supply Chain
Management at the University of Kassel, Germany. He is one of the globally leading au­
thors on sustainable supply chain management, but also covers topics on supply chain
strategy, digitisation, and circular economy. Stefan has collaborated interdisciplinary in
research project with colleagues from agriculture, engineering, and political sciences. The
Web of Science and Clarivate Analytics listed him as a highly cited researcher, in 2018 for
Cross-field in 2019, 2020 and 2021 for Economics and Business.