Mobile Wallet Research Articles

Mobile money and financial inclusion in Sub-Saharan Africa

In this paper, we utilize survey data collected in 2017 from 12,735 individuals across nine Sub-Saharan African countries. We merge the survey data with geographic information related to the proximity of mobile network towers and banking facilities, based on the geo-locations of the respondents. Our estimation approach comprises a two-stage model. In the first stage, consumers make choices between adopting a feature phone or a smartphone. In the second stage, they make decisions regarding the use of mobile money services. Our findings reveal that network coverage significantly influences the adoption of mobile phones. Moreover, we observe that mobile money services are more favored by younger and relatively wealthier individuals for sending money, while older individuals and those with lower incomes tend to use mobile wallets for receiving money. Consequently, mobile money services facilitate younger migrant workers residing in areas with better infrastructure in providing support to their older relatives in less developed regions.

How Performance Expectancy and Security Affect Continuance Intention on Gopay Users

GoPay is a leader amongst mobile wallet service providers, however the position is threatened by the coming of new players in the market. This research aims to investigate the influence of performance expectancy and the perception of security towards continuance usage intention and satisfaction’s role as the mediator on GoPay users in Banda Aceh. It is conducted by distributed online questionnaires to GoPay users which result in 90 respondents. Partial Least Square-Structural Equation Model (PLS-SEM) was used for data analysis. This study found that performance expectancy and satisfaction affect users’ intention to continue using GoPay. However, no direct influence is found in the relationship between perceived security and users’ willingness to continue using GoPay. This study also found that satisfaction can act as the mediator in the relationship between performance expectancy, perceived security, and intention to continue.

A STUDY ON PERCEPTION AND ATTITUDE TOWARDS DIGITAL PAYMENT AMONG URBAN CUSTOMER

A convergence of technological advancements, diverse client tastes, and the expansion of e-commerce and the digital economy have all contributed to the move towards online payment methods. Digital payment methods are now more widely available to urban customers because to the proliferation of smartphones and the ubiquitous availability of internet connectivity. Consequently, digital alternatives like mobile wallets, internet banking, contactless cards, and peer-to-peer payment systems have put pressure on traditional payment methods like cash and cheques. It is aimed to assess requirement of digital payment methods on monetary landscape in urban areas. The significance of this paper determines the impact perception and attitude towards digital payment among urban customer and to understand to the barriers and challenges hindering the widespread usage of online payment approaches and to ascertain the aspects influencing the acceptance of digital payments among urban customers. KEYWORDS: Technological advancements, E-commerce, Digital economy, Digital payment

Digital Payments and e-RUPI for the New Age India: An Overview

This paper presents an overview of Digital Payment in India which refers to the electronic transactions conducted between individuals, businesses, and government entities using digital channels. It involves the transfer of money or payments through online platforms, mobile devices, or other digital means, eliminating the need for physical cash or checks. India has witnessed significant growth in digital payment systems in recent years, driven by various initiatives and advancements in technology. In a country that has historically relied heavily on cash transactions, the advent of digital payment systems has ushered in a new era of convenience, efficiency, and financial inclusion. Digital payment in India has transformed the way financial transactions are conducted, moving the country towards a more inclusive, transparent, and efficient economy. The advent of UPI, mobile wallets, Aadhaar-enabled payments, and other digital payment systems has empowered individuals, facilitated business transactions, and enabled the government to deliver benefits and subsidies directly to beneficiaries. As India continues to embrace the digital revolution, the landscape of digital payment systems is expected to evolve further, driving economic growth and financial empowerment for all. Along with that, e-RUPI is a digital payment solution introduced in India to facilitate contactless and voucher- based transactions. Launched by the National Payments Corporation of India (NPCI) in collaboration with the Department of Financial Services, Ministry of Health and Family Welfare, and various other stakeholders, e- RUPI aims to enhance the efficiency and transparency of government welfare schemes and targeted subsidies. Keywords: Digital Payment, E-Rupee, UPI, Cash Transactions, NPCI, Mobile wallet.

Factors Influencing Behavioural Intention to Embrace Sustainable Mobile Payment Based on Indian User Perspective

Objective: The present study aims at developing an integrated model to identify assorted factors and also investigates the influence of identified factors on consumers’ behavioral intentions to use or not to use one particular M-wallet for payment. Method: A conceptual model is proposed and validated. Besides this, 600 questionnaires were distributed and 482 were deemed usable. Structural equation modeling was used to demonstrate the stability of the proposed model and to test research hypotheses. Results: The results showed that behavioural intention is significantly influenced by perceived value, trust, compatibility and social influence while consumers’ is less optimistic to use M-wallet with regard to perceived enjoyment. The study also showed that trust followed by compatibility has a more powerful influence on the behavioural intention of consumers in the context of M-payment. Conclusions: This study impacts researchers and India's mobile payment sector. Financial and banking institutions, entrepreneurs, retailers, policymakers, government, and telecommunications sectors benefit from research. This research could help policymakers plan and develop tactics to help m-wallet service providers achieve a cashless society. Empirical results demonstrate the value of the TAM, TRA, and TPB model in understanding youth mobile wallet use.

Determinants of Customer Loyalty toward Mobile Wallet Services in Post-COVID-19: The Moderating Role of Trust

One of the highly acclaimed innovations is the mobile wallet. Mobile wallets ensure that customers can make purchases even if they forget their wallets at home. The use of these wallets has increased significantly with the spread of the COVID-19 pandemic as a preventive measure. However, with COVID-19 restrictions lifted and adaptation to the pandemic, customers are no longer forced to use mobile wallets. That is, things have returned to normal as before the pandemic, where the customer is left free to choose the method of payment. In this regard, businesses need to retain their customers and make sure that those customers will reuse their own mobile wallets even during this period (post-COVID-19). Hence, it is critical to explore customer loyalty determinants toward mobile wallet services in such a period. Therefore, using the Indian context, this paper sought to explore the determinants of customer loyalty toward mobile wallet services post-COVID-19. This study also investigated the role of trust as a moderator. Based on a sample size of 243 customers in India, the relationships in the proposed model were tested using SmartPLS statistical technology. The results revealed that service quality, privacy and security, and trust are the key determinants in gaining customer loyalty toward mobile wallets. Yet, the results did not support perceived usefulness and ease of use as determinants of customer loyalty. As for trust as a moderator, the results supported only one of the four proposed hypotheses. Specifically, the results supported that “trust has a significant moderating impact on the relationship between service quality and customer loyalty”. The results offer a more precise comprehension of the relationships between customer loyalty and customer loyalty determinants in post-COVID-19 and enable managers to make better management decisions.

Consumer post-adoption of e-wallet: An extended UTAUT2 perspective with trust

The mobile marketing is facing rapid technological advancement nowadays, and there is growing literature on the effects of mobile applications, however, the role of branded applications in influencing consumer adoption remains insufficiently explored. Thus, this study aims to measure the level to which the unified theory of acceptance and use of technology 2 (UTAUT2) variables can affect the adoption behavior towards e-wallets in Jordan. However, with an additional point of view, centered around the internal influence, by replacing the social influence factor with trust factors, in order to test the model with focus on self-created individual perception. Data were collected from 314 e-wallet users in Jordan. The hypotheses for each of the study variables were analyzed through collecting data using online self-administered questionnaires then applying SEM analysis using Smart-PLS software. The results highlighted the significant effect of performance expectancy, effort expectation, habit, price value, and trust in on the continuance intention to use e-wallets in Jordan. Moreover, trust, in particular, was shown to have a remarkable effect on e-wallet Continuance Usage Intention, while also having an effect on the second most Influential variable, performance expectations. On the other hand, effort expectancy mobile wallets use continuance in the setting of Jordan. Finally, Continuance Usage Intention was shown to be a direct function of Continuance Usage behavior, followed by habit.

Niat dan Perilaku Penggunaan Mobile Wallet pada Mahasiswa Akuntansi

The Covid-19 pandemic has led to an increase in the use of mobile wallets. The aim of the study was to analyze the intention and behavior of using a mobile wallet using the UTAUT 2 model. The research was conducted on accounting students at the Faculty of Economics and Business, Udayana University. The sample was determined by the slovin formula and 92 people were found as the research sample. The research data was processed using multiple linear regression analysis. The results of the study show that performance expectations, social influence and price values have no effect on the intention to use a mobile wallet. Business expectations and hedonic motivation have a positive effect on the intention to use a mobile wallet. The test results also show that facilitating conditions do not affect the behavior of mobile wallet users. User habits and usage intentions have a positive effect on mobile wallet usage behavior.Keywords: Intention of Use; User Behavior; Mobile Wallets; UTAUT 2

Cashless economy – the nexus of COVID-19 and E-wallet usage intentions: a multi-group analysis between formal and informal sector workers in Ghana

PurposeThe purpose of this study is to offer a conceptual model that bridges gaps in the current research by combining constructs from the health belief model (HBM) and theory of planned behaviour (TPB). Furthermore, the researchers applied the constructed model to analyse the determinants of workers’ intentions to use e-wallet payment options for business transactions rather than physical currency during the ongoing COVID-19 pandemic. Finally, the paper examines whether there are any significant variations in the usage intentions of Ghanaian workers in the formal and informal sectors.Design/methodology/approachThe non-probability convenience sampling technique was used to compile the primary respondents among Ghanaian users of e-wallets. Based on constructs derived from the HBM and TPB, an online survey involving the use of a questionnaire was administered to collect quantitative data from 285 formal and informal sector workers in Ghana. Data collected was analysed using the partial least squares-structural equation modelling approach involving the measurement, structural model tests, hypothesis tests and multi-group analysis (MGA) tests.FindingsThis study reveals that workers’ attitudes, subjective norms and perceived susceptibility as the main determinants of intentions to use e-wallets, as the analysis of data lends support to hypotheses involving these constructs. Perceived behavioural control was however not supported by the data analysis as a determinant of workers’ intention. Finally, there were no significant differences between e-wallet usage intentions of formal and informal sector workers in Ghana.Research limitations/implicationsGiven the ongoing pandemic, the study recommends that governments of emerging economies should formulate policies that promote the use of e-wallets, to reduce the spread of COVID-19 and at the same time contribute to the quest for a cashless economy. However, the results of the study are only based on data collected from workers in Ghana. Therefore, practitioners should apply the recommendations with discretion and make modifications where necessary. The results of the study also provide evidence from the context of a developing country that can support future academic pursuits.Practical implicationsThis study provides evidence that influences practitioners’ decisions and practices regarding the design and implementation of e-wallet services and innovations among workers in the formal and informal sectors of the economy.Originality/valueThis study provides useful business insights to user acquisition managers, marketing managers and business development managers during the formulation of policies, strategies and approaches for their mobile wallet subscriber base. Moreover, to the best of the authors’ knowledge, this study is one of the first to apply the constructs of the HBM (mainly applied in health research) to the study of workers’ intentions to use e-wallets. It, therefore, makes a significant contribution to the existing literature by examining the combined effects of the constructs of the HBM and the TPB on workers’ intention to use e-wallets.

Small businesses and FinTech: a systematic review and future directions

Small businesses are significant to any economy from the perspective of employment and contribution to the national gross domestic product. Despite their significance, small businesses continue to face various unresolved challenges. Recent technological innovations in finance, collectively called FinTech, seem to address some challenges. FinTech-led business models like crowdfunding, peer-to-peer lending, invoice trading, mobile wallets and payments, and platform-driven supply chain finance are altering the ecosystem for small businesses. Though there have been efforts, insights on how small businesses have responded to the opportunities of FinTech appear to be limited. To address this, we conducted a systematic and cross-discipline literature review of 103 journal articles published between 2008 to 2023 on small businesses and FinTech. Four conceptual themes emerge from the analysis: usage of FinTech services (payment and financial), and impact of FinTech services (payment and financial) on small businesses. The paper articulates areas for future research.

Digital Payment Systems – An Overview of Categories and Extant Opportunities and Challenges

Abstract: The payments industry is changing as a result of mobile payments. These services give non-banking actors a way to break into the sector. Banks, who are already involved in the traditional payments sector, must provide mobile payments in order to meet this threat. Right now, we're in a digital era. India is about to see a significant digital revolution. The increasing connectivity that the Internet provides in today's society has altered the way that money is exchanged. The use of several technologies, including smartphones, computers, iPads, tablets, and the internet, has advanced dramatically in India. Smartphones and government initiatives like Digital India are acting as catalysts for the exponential growth in the use of digital payment as a result of the increase in internet users. In India, efforts are being made to switch to electronic payments. A digital payment system is one that processes payments through digital channels and an electronic network. Every transaction involving digital payments is completed online. It is a speedy and useful way to pay. With the aim of promoting cashless transactions and turning the Indian economy into a digital one, a number of digital payment options are available, including banking cards, USSD, UPI, AEPS, mobile wallets, POS terminals, Micro- ATMs, the internet, mobile banking, and BHIM.

QR codes during the pandemic: Seamful quotidian placemaking

During the COVID-19 pandemic, one technology for contact tracing has come to dominate – QR codes. As a technology pioneered in Japan two decades ago and mainstreamed in China, QR codes have quickly become part of quotidian placemaking. While locations such as China have fully incorporated QR code technology into everyday contexts including public transport and mobile wallet applications, QR codes in the West were relatively overlooked. That was, until the pandemic. In this article, we examine some of the ways QR codes are being imagined and reimagined as part of public placemaking practices. In order to do so, we begin with a short history of QR codes – emerging in Japan, becoming mainstream in China and their consequent uptake globally. We then discuss the methods of our Australian study conducted during the pandemic and the seamful/seamless findings from our study.

Digital Adherence Technologies and Mobile Money Incentives for Management of Tuberculosis Medication Among People Living With Tuberculosis: Mixed Methods Formative Study.

Although there is an increasing use of digital adherence technologies (DATs), such as real-time monitors and SMS reminders in tuberculosis medication adherence, suboptimal patient engagement with various DATs has been reported. Additionally, financial constraints can limit DAT's utility. The perceived usefulness and the design mechanisms of DATs linked to mobile money financial incentives for tuberculosis medication management remain unclear. The aim of this study is to describe the perceived usefulness and design mechanisms for a DAT intervention called My Mobile Wallet, which is composed of real-time adherence monitors, SMS reminders, and mobile money incentives to support tuberculosis medication adherence in a low-income setting. This study used mixed methods approaches among persons with tuberculosis recruited from the Tuberculosis Clinic in the Mbarara Regional Referral Hospital. We purposively sampled 21 persons with tuberculosis aged 18 years and older, who owned cell phones and were able to use SMS text messaging interventions. We also enrolled 9 participants who used DATs in our previous study. We used focus group discussions with the 30 participants to solicit perceptions about the initial version of the My Mobile Walletintervention, and then iteratively refined subsequent versions of the intervention following a user-centered design approach until the beta version of the intervention that suited their needs was developed. Surveys eliciting information about participants' cell phone use and perceptions of the intervention were also administered. Content analysis was used to inductively analyze qualitative data to derive categories describing the perceived usefulness of the intervention, concerns, and design mechanisms. Stata (version 13; StataCorp) was used to analyze survey data. Participants expressed the perceived usefulness of the My Mobile Wallet intervention in terms of being reminded to take medication, supported with transport to the clinic, and money to meet other tuberculosis medication-related costs, all of which were perceived to imply care, which could create a sense of connectedness to health care workers. This could consequently cause participants to develop a self-perceived need to prove their commitment to adherence to health care workers who care for them, thereby motivating medication adherence. For fear of unintended tuberculosis status disclosure, 20 (67%) participants suggested using SMS language that is confidential-not easily related to tuberculosis. To reduce the possibilities of using the money for other competing demands, 25 (83%) participants preferred sending the money 1-2 days before the appointment to limit the time lag between receiving the money and visiting the clinic. DATs complemented with mobile money financial incentives could potentially provide acceptable approaches to remind, support, and motivate patients to adhere to taking their tuberculosis medication. ClinicalTrials.gov NCT05656287; https://clinicaltrials.gov/ct2/show/NCT05656287.

Influence of Mobile Wallet Adoption on Performance of Tea Farmer’s Payment Systems by Cooperatives Kenya

Technology and time have significantly changed. Mobile phones have since changed the world telecommunication industry. Many innovations have led to remarkable economic gains in the last two decades. The incredible gains achieved over the last decade in mobile phone access have led to unexpected innovations. Mobile banking is a crucial factor in ensuring customer satisfaction, reducing operating costs, and a path for banking services penetration to the general public. The increased adoption of mobile banking has led to a new distribution channel for retail banking. The adoption of Internet banking has changed the dimensions of competition by introducing alternative delivery channels, including automated teller machines, mobile phone banking, and personal computer banking. The study's main objective was to determine the influence of mobile Wallet adoption on performance of tea farmer’s payment systems by co-operatives Kenya. Keywords: Mobile Wallet, FinTech, Mobile Money Technology DOI: 10.7176/EJBM/15-8-07 Publication date: April 30 th 2023

ASSESSMENT OF UKRAINE'S COMPETITIVE POSITIONS IN THE INNOVATIVE SPHERE OF CASHLESS PAYMENTS AND DEVELOPMENT PRIORITIES OF THE BANKING SECTOR

Now more than ever, technological developments are changing the financial ecosystem and the future of banks. New financial technology players, as well as existing technology companies, have begun to provide financial services traditionally provided by banks. At the same time, customers who are increasingly digitally savvy.
 to remain competitive against new players, attract customers and reduce costs, the world's major banks have identified digital transformation as a business priority for the coming years.
 Therefore, it is extremely important to study the impact of currently innovative forms of non-cash payments on the competitiveness of banks and some of the main factors that contributed to such a transformation.
 The work described the definition of "innovation" and "innovative technologies" and their functioning in view of the national experience. The process of settlement regulation from the regulatory and legal support in Ukraine is considered.
 The article investigated the optimization of the infrastructure for the use of payment cards, mobile wallets, payment via the Internet, etc.
 Quantitative and volume indicators of the use of cash and non-cash payments were analyzed and it was proven that customers still use cash in their payments despite the increase in the trend of non-cash payments.
 New forms of innovation used by banks to improve their work and attract new customers are described. Among the main innovations are cashback, Google Pay, Apple Pay, the NFC system.
 The perspective of using electronic payments to increase the competitive advantages of banks has been studied.
 Concepts of bank development were analyzed taking into account its specialization and based on the analysis of strengths and weaknesses, and the strategies of banks depending on their characteristics were highlighted.

Perceived Security and Technology Continuance Theory: An Analysis Of Mobile Wallet Users’ Continuance Intention

The objective of this study is to investigate the determinant factors of mobile wallet users’ continuance intention in Indonesia. It integrates technology continuance theory (TCT) with perceived security. Mobile wallet has been received well by Indonesian; however, the sustainability of the business is challenged by several issues, such as fierce competition, security concern, the practice of burning cash and low switching costs. Although the study of continuance intention of using information systems has caught scholars’ attention, the application of TCT in the study received little attention. This study used a questionnaire for data collection and convenience sampling for selecting the respondents. The total number of respondents in this study is 240 respondents and the data was analyzed using partial least square (PLS)-structural equation modelling (SEM). The result showed that perceived usefulness, satisfaction and attitude had a direct relationship with continuance intention, while the relationship between perceived security and continuance intention was insignificant. Perceived usefulness and perceived security were the predictors of satisfaction and attitude. This study also found that satisfaction influenced attitude. This study contributes to the study of Information systems and the use of TCT in understanding users’ continuance intention. The theoretical and practical implications, as well as future studies, are discussed.

A Study of Satisfaction and Loyalty for Continuance Intention of Mobile Wallet in India

How do satisfaction and loyalty drive Indian consumers' continued use of mobile financial applications? Do age, education, and income moderate these relationships? An analysis of 1,060 Indian participants revealed that consumer satisfaction and loyalty were correlated with continuance intention. Satisfaction seemed to be a more emotional factor for the continuance of mobile wallet use, while loyalty was more cognitive behavior. Income and education showed opposite and significant moderating effects on the main driving factors. In general, the research findings can provide a deeper understanding of the continued use of mobile financial applications.

Design of a Compliance Index for Privacy Policies: A Study of Mobile Wallet and Remittance Services

Many nations have adopted comprehensive data privacy laws to protect customers’ data. However, privacy policies of mobile wallet digital payment systems (DPS), and particularly the mobile wallet and remittance services that are part of DPS, are often not compliant with privacy laws. There is a lack of measures to assess how adequate the policies are in addressing data privacy issues. To address this problem, this article develops a compliance index to help DPS organizations assess the compliance of their privacy policies with the general data protection regulation (GDPR). The compliance index is created through a natural language process that includes term frequency-inverse document frequency matrix and topic modeling using latent Dirichlet allocation, to compute 1) an emphasis density score that indicates the level of emphasis a privacy policy places on GDPR dimensions, and 2) a privacy score that identifies the level of compliance of a privacy policy with GDPR. The compliance index is validated by assessing its effectiveness at the country level in comparison with an international publicly available data privacy benchmark.

USER’S ADOPTION OF E-PAYMENT SYSTEM IN HARYANA

In todays global financial transactions, electronic payment systems have emerged as the most preferred method of payment. This is because it is timely, convenient, and effective. The goal of the study is to determine the most popular e-payment mode and what drives people to use the system. 250 participants in the study filled out the questionnaire. The respondents were chosen using a combination of stratified random and judgmental sampling techniques. According to the studys findings, banking cards and mobile wallets are the two most popular modes of e-payment. There was a paucity of infrastructure, so few people voiced their displeasure. Certain areas of Haryana are reluctant to adopt a cashless system because of a lack of digital literacy, which prevents people from using coupons and earning cashback incentives, security concerns, poor internet connectivity, and other unfavourable attitudes. According to the studys findings, educational institutions and other organizations routinely offer digital literacy programs in order to inform individuals about cashless transactions, particularly those in the low-income sector who are totally dependent on cash. KEYWORDS: cashless payment; online payment; digital payment; mobile payment; electronic payment

Relationship Between Digital Payments Platforms, Merchants and Banks in India Using Social Network Analysis

The Digital India programme is one of the flagship programmes of the Government of India with a focus on promoting cashless transactions using various modes of digital payments. These modes include Mobile Wallets, Use of Credit and Debit Cards, Mobile banking, internet banking and UPI. The study aims to analyse the area of Digital Payments and understand how banks and financial institutions are strategizing themselves to gain a competitive advantage in this Digital Era. This will be achieved by mapping the relationship between the Indian Banks and the Digital Payment platforms using Social Network Analysis, thus trying to identify significant performing banks and their association with classified digital payment platforms. This network analysis will help banks to detect change-in-opinion, and design strategic decisions by resolving complications from the consumer’s perspective. This study demands the latest data, collected from pertinent sources. Information is being gathered from the National Payments Corporation of India (NPCI), supported by the Reserve Bank of India (RBI) and the Indian Bank’s Association (IBA), which is functioning as an often related umbrella organisation for retail payments, settlement systems and operations in India.