Analysis of using Fast-Pay and its demand determinants in Erbil City in 2025

Abstract

This study aims to determine the extent to which citizens utilize e-money (Fast-Pay)

and determine the various purposes of this money usage, identify the citizens who use it

most frequently, and measure and analyze the determinants influencing the demand for this form of money. The study is based on a sample of 391 e-money (Fast-Pay) users in Erbil, and data were collected through a questionnaire distributed via Google Forms. The study followed a descriptive approach to describe the characteristics of e-money (Fast-Pay) users. Additionally, it followed an analytical approach, employing simple linear correlation and regression, and factor analysis to identify and analyze the determinants of demand for e-money (Fast Pay). The study concluded that the vast majority of e-money users are young people who possess good internet and smart device skills, as well as good skills in using electronic payment tools. Purchasing internet balance, communication balance, and money transfers are among the most specific uses of e-money. The results confirm the role and importance of all the determinants of demand for e-money (Fast-Pay). Finally, the study suggests that it should work to raise public awareness of the benefits of e-money through media and advertising to increase the spread of the account among users. It is important for educational institutions in Kurdistan to focus on developing and spreading financial literacy among citizens. The Fast-Pay Foundation should work to make e-money easy, simple, and economical for all citizens, regardless of age, educational level, or income. Kurdistan Regional Government institutions need to develop the electronic internet infrastructure. They should also enact laws and regulations to protect the rights of e-money users and safeguard their accounts from hacking, theft, and loss.