Determinants of Behavioral Intention to Use Digital Payment among Indian Youngsters

Abstract

In the current study, we sought to construct an integrated model to identify various elements and evaluate the impact of these identified factors on customers’ behavioral intention to use or not use specific M-wallets for payment. To this end, we proposed and validated a conceptual model. In all, 600 questionnaires were distributed, and 482 responses were deemed usable. Structural equation modeling was used to demonstrate the stability of the proposed model and to test the research hypotheses. Perceived value, trust, compatibility, and social influence were all found to have a substantial influence on behavioral intention; however, consumers are less likely to use an M-wallet on the basis of perceived enjoyment. We also found that trust, followed by compatibility, has a stronger influence on customers’ behavioral intentions in the context of M-payments. This study only included six M-wallets and was restricted to a certain age group in a single city. Understanding the many characteristics of behavioral intention can help M-wallet providers gain consumer trust and increase the frequency with which consumers use M-wallets for M-payments. The findings suggest that M-wallet service providers should consider and manage all influencing elements as proactive strategies for M-wallet intention. This strategy can be used to create an M-wallet-user behavioral intention model that will assist enterprises/companies in managing the establishment of their users’ behavioral intentions.