Mobile Wallet Research Articles

Evaluating Mobile Wallet Adoption Barriers Using Fuzzy Mathematical Model

A tremendous amount of research has been done on the factors influencing mobile wallet adoption as mobile wallet technology has seen rapid growth. Using expert opinion and Fuzzy PROMETHEE approach, this study investigates the key barriers to mobile wallet adoption. Mobile wallet adoption is constrained by Technological, security and infrastructural barriers, making adoption more challenging when user acceptance is skewed in emerging markets. In this study, we use the F-PROMETHEE to rank these barriers based on expert opinions. A panel of fintech and digital payments experts assessed the key adoption obstacles. Included in the PROMETHEE method were methods for handling variability or uncertainty through fuzzy logic and through subjective expert judgments. The results suggest that the major barriers to the adoption of mobile wallets were identified as risk and usage constraints. Moreover, value barriers are a leading factor. This study found that the risk and value barriers are the two principal risks that must be overcome to raise the client accepted rate of m-wallet services. A step forward in the assessment of such obstacles is the innovative use of a fuzzy mathematical model, which provides a more complex and adaptable approach than traditional methods. This study has learnt a few lessons that can help policy makers and industry players understand how to overcome the main barriers to mobile wallet adoption.

Adoption of Cashless Payment Among Undergraduate Students: A Case Study

The increasing acceptance of cashless payment systems has led to a significant transformation in the global financial transaction landscape in recent years. As technology evolves and consumer preferences shift, digital payment methods are gradually taking the place of traditional cash transactions. This change not only facilitates financial transactions for individuals and businesses but also has significant implications for convenience, security, and financial inclusion. This paper investigates the key factors driving the transition to cashless transactions during this period, along with the benefits and drawbacks associated with society's growing embrace of this innovative approach to managing finances. The primary focus of research in this area revolves around the adoption and use of digital or cashless payment methods. A quantitative methodology was employed, and a questionnaire was administered to 113 participants. The data were analyzed using the Statistical Package for Social Science (SPSS) Version 27. The findings indicated that Performance Expectancy (PE) and Perceived Technology Security (PT) played significant roles in the adoption of cashless payments among undergraduate students while Facilitating Condition (FC) and Social Influence (SI) did not significantly affect their adoption of such payment methods. This study provides valuable insights into assessing individuals' willingness, intentions, or actual behaviors regarding various electronic transaction forms, including mobile wallets, credit/debit cards, online payments, and contactless methods. Additionally, researchers can utilize these variables to explore the factors that influence users' acceptance or rejection of cashless payment systems.

How does perceived security influence mobile wallet users' behavior? A SEM investigation

PurposeThe digital disruptions have provided alternative methods of monetary transactions. Despite the digital wave, cash as a payment option has regained its position. The purpose of this research is to investigate behavioral intentions of mobile wallet (m-wallet) users. The paper explores the dynamics of perception, behavioral intention motivation and satisfaction of m-wallet users.Design/methodology/approachThe authors have used a self-administered questionnaire for data collection. A total of 506 responses were analysed using confirmatory factor analysis in conjunction with Structural Equation Modeling, ensuring the validity and reliability of the insights into the behavioral dynamics of m-wallet users.FindingsThe research highlights the direct impact of perceived security on m-wallet users' perceptions, which subsequently influence both direct and indirect behavioral intentions. Moreover, satisfaction emerged as a significant determinant directly shaping behavioral intentions.Originality/valueThis study contributes significantly to the existing literature by offering a comprehensive understanding of the factors driving m-wallet adoption and usage intentions, thereby equipping stakeholders and policymakers with the necessary tools to devise effective strategies to promote mobile payment technologies in North India. The study employs a multifaceted model that incorporates six key elements, providing a comprehensive understanding of the complex interrelationships among these variables.

Determinants of consumers’ attitude towards mobile wallet adoption in Somalia

Determinants of consumers’ attitude towards mobile wallet adoption in Somalia

Evolution and Trends in Digital Wallet Research: A Bibliometric Analysis in Scopus and Web of Science

Digital wallets have become a driving force in the global economy, with 2.4 billion users worldwide in 2020, a figure projected to reach 3.6 billion by 2026. This study conducts an in-depth bibliometric analysis to evaluate the current state and future trends of digital wallet research using scientific databases such as Scopus and Web of Science. A scoping review methodology was applied, in which we analyzed 778 documents, following an eligibility process with the following search terms: “digital wallet”, “mobile wallet”, and “e-wallet”. Results show that India, the United States, and China are leading research efforts in this field. Key factors influencing the adoption of digital wallets include data security, ease of use, and integration with traditional payment systems. While much research has focused on technological innovation and adoption, significant gaps remain in areas such as blockchain integration and AI-driven solutions. This article provides the first comprehensive bibliometric analysis of digital wallets, offering crucial insights into emerging trends such as “blockchain”, “electronic commerce”, and “digital payments” and their role in shaping the future of financial technology.

Unveiling Mobile Wallet Adoption: Exploring UTAUT's Influence on Behavioral Intentions

In today’s world, smartphones have become the most important part of life. It has changed the lifestyles of many people. In recent times, the usage of smartphones has increased dramatically as it offers various benefits to its users. The rapid evolution of digital payment technologies has propelled the emergence of mobile wallets as a convenient and potentially transformative means of financial transactions. The current research focuses on analyzing the effects of UTAUT on users’ behavioral intentions for using Mobile wallet technology. In this empirical study, the main concepts of the UTAUT model are explained. Adopting the UTAUT framework, the survey evaluates important factors that influence users' intentions to adopt mobile wallets. This study uses survey data from 110 Internet users, which will be examined using regression, correlation, and weighted mean analysis. This research revealed positive significant correlation between intention and performance expectations, effort expectations, social norms, and privacy. However, it was also found that performance expectation, effort expectation and privacy of personal information had a significant positive influence on behavioral intention.

The Rise of Fintech and How it Made India a Cashless Economy

This paper examines the rise of fintech and its impact on transforming India into a cashless economy. It highlights key drivers, such as the 2016 demonetization, that accelerated the adoption of digital payments, mobile wallets, and UPI. The study explores how fintech has improved financial inclusion in both urban and rural areas, focusing on Paytm as a case study. Despite fintech's success, challenges like financial illiteracy, data security risks, and fraud persist. The paper offers recommendations for enhancing financial literacy, improving data security, and expanding fintech adoption to sustain its growth and further boost India's digital economy.

Understanding the Adoption of Mobile Wallets Amongst Rural Indian Women

Understanding the Adoption of Mobile Wallets Amongst Rural Indian Women

Impact of Government Enterprise and Empowerment Programme (GEEP) on poverty status of beneficiaries in Cross River State, Nigeria

In line with the sustainable development goal to end poverty in all forms, the Nigerian Government launched Government Enterprise and Empowerment Programme (GEEP) - as a social investment programme to alleviate poverty by providing credit to petty traders to support entrepreneurship. This study assesses the impact of Government Enterprise and Empowerment Programme (GEEP) on the poverty status of beneficiaries in Cross River State, Nigeria. Specifically, it compared the mean income before, and after accessing the loan, analysed the determinants of poverty status of the respondents in the study area, enumerated the benefits of GEEP to the respondents, and identified the challenges faced by the beneficiaries in accessing the loan. Stratified random sampling technique was used to select 398 respondents who had benefitted from the programme across the eleven Local Government Areas (LGAs) that the programme covered. Data were obtained from primary source with the aid of a well-structured questionnaire, and analyzed using; frequency count, mean, Foster Greer and Thorbecke (FGT) model, paired T- test (Z), and logistic regression analysis. The results showed that, majority of the respondents were male (55.6%) with a mean age of 35 years, and had an average household size of 5 persons. The study also showed that 98.9% of the respondents were educated. The mean monthly income before GEEP support was N 44,535.53, while after GEEP it was N54180.20. Thirty-six percent of the total respondents were poor (36%). The comparative analysis of the mean income before and after accessing the loan showed that, there was a significant difference between their mean incomes at 5% level of significance. Key variables that determined poverty status were; household size and loan amount. The main benefits of GEEP to the respondents were; increase in beneficiaries’ income, and improvement in their standard of living. The major challenges faced by the respondents were; lack of appropriate means to repay loan, stressful loan procedure, and difficulty in transferring money from mobile wallet to bank. The study recommended that the loan application process should be less complex to enable quick loan application. The GEEP programme should be sustained, and allowed to have wider coverage in both rural and urban areas of the country as it has assisted a lot of small business owners’ access to cheap credit. Key words: Impact, GEEP, empowerment programme, government enterprise, poverty status

Using Stimulus-Organism-Response (SOR) Theory to understand mobile wallet intention to use in Saudi Arabia

Using Stimulus-Organism-Response (SOR) Theory to understand mobile wallet intention to use in Saudi Arabia

Factors influencing affinity of eSewa-Mobile Wallet: A case study in Kathmandu Valley

This study examines the factors influencing user’s affinity of eSewa (mobile wallet) in Kathmandu Valley. User’s affinity towards eSewa is the dependent variable. The selected independent variables are transaction convenience, compatibility, ease of use, perceived security, perceived trust and rewards and offers. The primary source of data is used to assess the opinions of respondents regarding transaction convenience, compatibility, ease of use, perceived security, perceived trust and rewards and offers provided by mobile wallet in Kathmandu Valley. The study is based on primary data of 123 respondents. To achieve the purpose of the study, structured questionnaire is prepared. The correlation and multiple regression models are estimated to test the significance and importance of transaction convenience, compatibility, ease of use, perceived security, perceived trust and rewards and offers on user’s affinity towards eSewa mobile wallet. The study showed a positive impact of transaction convenience on user’s affinity. It indicates that providing transaction convenience to the users leads to increase in user’s affinity towards eSewa. The study showed a positive impact of compatibility on user’s affinity. This implies that compatible system leads to the increase in user’s affinity towards eSewa. The study also revealed a positive impact of ease of use on user’s affinity. It implies that user friendly system leads to increase in user’s affinity towards eSewa. Likewise, the study observed a positive impact of perceived security on user’s affinity. It indicates that secured system leads to increase in user’s affinity towards eSewa. Similarly, the study observed a positive impact of perceived trust on user’s affinity. It implies that higher level of trust towards the mobile wallet drives user’s affinity towards eSewa. Rewards and offers has a positive impact on user’s affinity. It shows that the frequent rewards and offers stimulates user’s affinity towards eSewa mobile wallet. The regression also shows that the beta coefficients are positive for transaction convenience, compatibility, ease of use, perceived security, perceived trust and rewards and offers are significant for all the independent variables at one percent level of significance.

Customer Satisfaction Towards E-wallet Services

The Researcher focused on the customer satisfaction and customer satisfaction towards E-wallets in this study. This study evaluates the factors that has influence on the customers satisfaction while using E-wallets. In recent days everyone uses their mobile phone to make each and every transaction using mobile wallets. E-wallets create a high impact among the people of India. The present study is carried out by the researcher using questionnaire by a survey conducted among the electronic wallet users to find the extent of satisfaction of the customers. The study focuses relationship between demographic factors and satisfaction level of the customers.

The mediating roles of trust on intentions toward mobile wallet adoption in social health insurance: a deep learning–based SEM-ANN analysis

The mediating roles of trust on intentions toward mobile wallet adoption in social health insurance: a deep learning–based SEM-ANN analysis

Offline Payments: Implications for Reliability and Resiliency in Digital Payment Systems

With the proliferation of digital payments, internet-based technology has been integral in supporting the delivery of these transactions. Traditional digital payments, such as those made with credit cards, debit cards, and mobile wallets, often require an internet connection to settle transactions. Processors must communicate between banks to carry out a payment, relying on internet connectivity to do so.

A novel framework for understanding the interplay between the mobile wallet service quality dimensions and loyalty intention

A novel framework for understanding the interplay between the mobile wallet service quality dimensions and loyalty intention

Behavioural intention to adopt mobile wallets at the bottom of the pyramid: a developing economy perspective

PurposeThe study aims to investigate the factors influencing the behavioural intention of bottom-of-the-pyramid (BOP) consumers in developing economies, such as India, to adopt mobile wallets, drawing upon the framework of the uses and gratification theory. Furthermore, the study also examines the moderating effect of gender.Design/methodology/approachTo achieve the objective, primary data were collected from a sample of 220 respondents using the survey method. The reliability and validity of the survey instrument were demonstrated through confirmatory factor analysis. Subsequently, structural equation modelling (SEM) was used for hypotheses testing.FindingsThe study revealed that only convenience and social influence have a positive significant influence on the behavioural intention to adopt mobile wallets whereas, innovativeness, trust and compatibility have no significant relationship with behavioural intention to adopt mobile wallets among the BOP consumers. Further, gender moderates the relationship between compatibility and behavioural intention to adopt mobile wallets in India.Originality/valueThis study contributes to the underexplored area of research concerning the behavioural intention to adopt mobile wallets among BOP consumers in a developing economy. It introduces a novel approach by using the uses and gratifications theory to uncover the underlying motivations behind adoption behaviour.

Brand commitment as predecessor to the factors of continuance intention

AbstractJapanese consumers have always been placed as one of the most highly loyal consumers in the world who are committed to purchasing certain brands for products in many different industries, such as automobiles, luxury goods, and electronics, to name a few. However in recent years, there is evidence to suggest that brand commitment in Japan is decreasing. In this study, we collected data from consumers in 2018 and again in 2023 using the same instrument to ascertain the change in brand commitment as a predecessor of consumer satisfaction, loyalty, and habit and ultimately their impacts on continuance behavior in using mobile wallet applications. We did not find the relationship between satisfaction and continuance intention to be significant in the 2023 model, unlike earlier. The results of this 5-year study comparison revealed that brand commitment was found to be a predecessor construct to both Japanese consumer satisfaction and habit across the years. It was also found that loyalty mediated the relationship between both habit and consumer satisfaction with continuance intention of mobile wallet applications usage. In summary, we found that brand commitment was significant in its relationship to satisfaction, loyalty and habit both in the 2018 and 2023 studies. This indicates a sustained and strong level of brand commitment in the mobile applications context by Japanese consumers. With this research, the knowledge on the well-known constructs of brand commitment, consumer satisfaction, loyalty, habit, and continuance intention have been extended in the area of mobile wallet applications. The findings provide up-to-date insights that have high relevance and important managerial implications in the international marketing research context beyond Japan.

Enablers for Usage of the Mobile Wallet by Msmes in Rural India: Using the Interpretive Structural Modelling Approach

Abstract In today`s digital era, it is all the more desirable that all businesses, whether gigantic or minor in operation, should adopt financial technology and grow their businesses within their region and outside of the region. The Micro, Small & Medium Enterprises (MSME) segment is the mainstay of the Indian economic environment thus it is crucial that MSME players adopt financial technology in their routine commercial transactions. The present research study was conducted to investigate the enablers of usage of a Mobile Wallet by MSMEs in rural areas of India using interpretive structural modeling. It aims to categorize the foremost enablers and assess the relative relations between the recognized ten key enablers and proposes a hierarchical outline of vital enablers on MSME entrepreneurs from several hill states of India. The most prominent enabler that promoted the use of mobile wallets among MSME entrepreneurs included risk factors and perceived cost. The study suggested that multi-dimensional determinations are required to make certain of the use of mobile wallets by MSME entrepreneurs so that they can assess maximum economic opportunities and support the fiscal expansion of the state and the country.

Digital Adherence Technologies Linked to Mobile Money Incentives for Medication Adherence Among People Living With Tuberculosis: Mixed Methods Feasibility and Acceptability Study.

Complementing digital adherence technologies (DATs) with mobile money incentives may improve their utility in supporting tuberculosis medication adherence, yet the feasibility and acceptability of this integrated approach remain unclear. This study aims to describe the feasibility and acceptability of a novel DAT intervention called My Mobile Wallet composed of real-time adherence monitoring, SMS text message reminders, and mobile money incentives for tuberculosis medication adherence in a low-income setting. We purposively recruited people living with tuberculosis from the Mbarara Regional Referral Hospital in Mbarara, Uganda, who (1) were starting tuberculosis treatment at enrollment or within the past 4 weeks, (2) owned a mobile phone, (3) were able to use SMS test messaging, (4) were aged ≥18 years, and (5) were living in Mbarara district. At study exit (month 6), we used interviews and questionnaires informed by the unified theory of acceptance and use of technology (UTAUT) to collect feasibility and acceptability data, reflecting patients' experiences of using each component of My Mobile Wallet. Feasibility also included tracking the functionality of the adherence monitor (ie, an electronic pillbox) as well as SMS text message and mobile money delivery. We used a content analytical approach to inductively analyze qualitative data and Stata (version 13; StataCorp LLC) to analyze quantitative data. All 39 participants reported that the intervention was feasible because it was easy for them to use (eg, access and read SMS text messages) and worked as expected. Almost all SMS text messages (6880/7064, 97.4%) were sent as planned. The transmission of adherence data from the monitor worked well, with 98.37% (5682/5776) of the data transmitted as planned. All participants additionally reported that the intervention was acceptable because it helped them take their tuberculosis medication as prescribed; the mobile money incentives relieved them of tuberculosis-related financial burdens; SMS text message reminders and electronic pillbox-based alarms reminded them to take their medication on time; and participants perceived real-time adherence monitoring as "being watched" while taking their medication, which encouraged them to take their medication on time to demonstrate their commitment. The intervention was perceived as a sign of care, which eventually created emotional support and a sense of connectedness to health care. Participants preferred daily SMS text message reminders (32/39, 82%) to reminders linked to missed doses (7/39, 18%), citing the fact that tuberculosis medication is taken daily. The use of real-time adherence monitoring linked to SMS text message reminders and mobile money incentives for tuberculosis medication adherence was feasible and acceptable in a low-resource setting where poverty-based structural barriers heavily constrain tuberculosis treatment and care.

Exploring the symmetric and asymmetric effects of mobile wallet service experience on brand loyalty in India: evidence from SEM and fsQCA

Exploring the symmetric and asymmetric effects of mobile wallet service experience on brand loyalty in India: evidence from SEM and fsQCA