Mobile Wallet Research Articles

Evaluation of the Determining Factors of the Intention to Use, Satisfaction and Recommendation of Mobile Wallets Adapted to the Utaut2 Model in the Peruvian Context

The massive adoption of mobile wallets in the context of COVID-19 forced retailers to implement it in their businesses. Therefore, it is necessary to assess the determinants of mobile wallet adoption and recommendations among merchants in northern Peru. Objective: To conduct an empirical evaluation to test the research hypotheses gathered during the literature review process. Based on the UTAUT2 model, the partial least-squares technique was used to test the hypotheses. Method: This study relied on a quantitative approach with a nonexperimental design, and a sample of 466 merchants was selected through nonprobabilistic sampling. Results: Eight of the nine hypotheses were confirmed: Perceived utility (?=0.219???), attitude (?=0.57?), perceived risk (?=?0.219???), and satisfaction (?=0.515???) are the main factors influencing the adoption and recommendations of mobile wallets with standardized beta coefficients of considerable magnitude (?***). Conclusion: This study confirms the importance of perceived usefulness, attitude, perceived risk, and satisfaction in driving the adoption and recommendation of mobile wallets among merchants in northern Peru. This information may be useful for merchants wishing to implement mobile wallet services and to increase their customer base. The results of this empirical assessment highlight the need for merchants to focus on improving the perceived usefulness and satisfaction of their mobile wallet services as well as minimizing the perceived risks associated with their use.
 
 Received: 11 September 2023 / Accepted: 23 December 2023 / Published: 5 January 2024

Effect of Cashless Financial Services on Economic Growth in Kigali, Rwanda

The research aimed at assessing the effect of cashless financial services on economic Growth in Kigali, Rwanda. The study was conducted in Kigali Rwanda. The time was limited in the period of 2014-2022.Thestudy was guided by the following specific objectives upon which also the following research questions were derived: To evaluate the effect of internet banking on Economic Growth in Kigali, Rwanda. To establish the impact of mobile cards on Economic Growth in Kigali, Rwanda. To assess the effect of mobile wallets on Economic Growth in Kigali, Rwanda. To evaluate the effect on mobile money on Economic Growth in Kigali, Rwanda. The research employed the use of Focus Group as one of interview methods to collect data from respondents. Rwanda still faces less privacy, greater exposure to hacking, technological dependency, magnifying economic inequality, and more. The current study therefore sought to find out the effect of cashless financial services on economic growth in Kigali, Rwanda amidst of the highlighted challenges associated with the cashless society plan. The researcher collected data from employees of MTN Rwanda, Eco bank Rwanda, BK, BNR and beneficiaries of selected institutions. The research design included: questionnaires; interviews and documentation research techniques. The sample size of the study is210 participants from Bank of Kigali, Eco bank, telecommunication companies (MTN) including mobile money agents by means of purposive sampling. The researcher requested the selected institutions to allow their members to participate in the interview and an authority letter for data collection from the University was presented to selected Institutions. Confidentiality and privacy were observed during the interview process. The researcher allowed the respondents to be free when collecting the data, mentioning names was avoided as it could be considered as coercing the respondents. Data collected was analyzed using SPSS.

User Experience (UX) Components of Mobile Wallets Influencing the Post-adoption Behavior of Millennials in the National Capital Region (NCR) of the Philippines

The rapid growth and development of the Internet have changed how people use technology and commerce. Although mobile wallets have become increasingly popular, there is still a lack of research regarding the future viability of the market's adoption of mobile wallets in light of potential risks and emerging alternative concepts. With this, this research investigated how millennials' post-adoption behavior is influenced by the user experience (UX) components in mobile wallet applications, focusing on Filipino millennials. This quantitative study used a descriptive correlational research design to survey 200 regional-based millennials from a population of 1,383,672 mobile wallet users. This study addressed this gap by identifying six vital UX components: aesthetic appeal, security and reliability, ease of use, convenience, information accuracy, and speed and efficiency. Data collection involved an online questionnaire on digital platforms, ensuring data reliability through rigorous testing. Advanced statistical tools, including regression analysis and Partial Least Squares Structural Equation Modeling (PLS-SEM), were utilized for analysis. Despite recognizing the positive contribution of the other components in influencing post-adoption, results have shown that only two, security and reliability and ease of use, of the six identified UX components significantly influence Millennial users' post-adoption behavior towards mobile wallet applications. This result may align with the subject's primary purpose, usage, and motivation, as well as the direct influence of the components on trust, daily utility, risk reduction, competitiveness, regulatory adherence, and user preference adaptation.

Consumer Attitude towards Mobile Wallet Through on Google Pay

In the digital world, most of the people are using upcoming technology mobile payment. It is cardless payment. It cans safe time and easily transaction the amount. We can transfer the amount whole the day 24*7 or 365 days. If we don’t have the amount in the original bank account. The amount can’t be transaction, it immediately banker send the message to Gpay user account.

Smart Tourism in ASEAN: Leveraging Technology for Sustainable Development and Enhanced Visitor Experiences

Smart tourism, through an innovative integration of technology into the tourism industry, is transforming the way travelers experience destinations in the ASEAN region. We explored how ASEAN countries are leveraging advanced technologies such as the Internet of Things (IoT), big data analytics, artificial intelligence (AI), and mobile applications to promote sustainable development and enhance visitor experiences. By adopting smart tourism strategies, ASEAN nations are addressing critical challenges including environmental conservation, efficient resource management, and the creation of personalized seamless travel experiences. The implementation of smart tourism solutions enables real-time data collection and analysis, providing valuable insights for decision-makers and stakeholders. This improves infrastructure planning, targeted marketing, and responsive services to cater to diverse tourist needs. Furthermore, the integration of smart technologies fosters more collaboration among ASEAN member states than before, sharing best practices and innovative solutions. As a result, smart tourism enhances the overall satisfaction of visitors and contributes to the sustainable growth and resilience of the tourism sector in the ASEAN region. This study highlighted key case studies and initiatives and demonstrated the potential and impact of smart tourism in driving economic development to promote a more sustainable and inclusive tourism industry in ASEAN. Results and suggestions were made on how to utilize AI and machine learning and provide personalized recommendations and services. AI chatbots can assist tourists with travel planning, bookings, and inquiries in real-time. ASEAN must promote the use of cashless payment systems, such as mobile wallets and contactless payments, to provide a convenient and secure payment experience for tourists. The adoption of sustainable practices through incentives and regulations promotes eco-friendly accommodations, sustainable transportation options, and responsible tourism activities, which enhances ASEAN Smart Tourism initiatives.

Mobile Wallet Adoption in An Emerging Economy: An Empirical Validation of a Continuance Model

This paper proposes a continuance model of mobile wallet (m-wallet) adoption in an emerging economy. Then, the proposed model is tested using data collected from 621 m-wallet users. For data analysis, we use a partial least squares structural equation modeling tool to estimate the model and conduct multi-group analysis based on user location. An importance-performance map (IPM) analysis is also conducted. The results show that perceived user connectivity, technology characteristics, and satisfaction strongly predict m-wallet continuance intention. The multi-group analysis detected some differences based on user location. Then, the IPM analysis shows that perceived user connectivity seems to be the construct with the highest importance and performance for continuance intention. Finally, implications for research and practice are presented and discussed.

Mobile wallet payments - a systematic literature review with bibliometric and network visualisation analysis over two decades

Mobile wallet payments - a systematic literature review with bibliometric and network visualisation analysis over two decades

Attitude and Behavioural Intention to Use FinTech Products in New Normal Era: A Study of Mobile wallets in Uttarakhand

Attitude and Behavioural Intention to Use FinTech Products in New Normal Era: A Study of Mobile wallets in Uttarakhand

Mobile wallet payments- A Systematic literature review with Bibliometric and Network Visualization analysis over two decades

Mobile wallet payments- A Systematic literature review with Bibliometric and Network Visualization analysis over two decades

Examining the Drivers and Deterrents of Mobile Wallets Adoption among Rural Consumers

Examining the Drivers and Deterrents of Mobile Wallets Adoption among Rural Consumers

An investigation of students' intention to use E-payment service in Mobile Wallet in Ho Chi Minh City

E-payment services have witnessed a surge in demand in recent years due to their convenient cashless transaction mode. Several studies have investigated the influence of the intention of individuals to use mobile wallets. However, the study aims to examine the key factors that impact students’ intention to use E-payment services in Ho Chi Minh City, Vietnam. The Technology Acceptance Model combines two factors from the extended version of TAM including perceived convenience and trust to develop a conceptual model for this study. The online survey of 310 students from some universities collected the data and the Smart PLS was used to analyze the data. The results of the study showed that perceived ease of use, perceived usefulness, trust, and perceived convenience have a positive influence on behavioral intention to use mobile wallets, while trust shows no positive effect on perceived usefulness.

Development of Research on Continuous usage Intention of M-Wallets: A Systematic Review of Literature from 2011 to 2021

Mobile payment usage must be maintained for mobile wallet companies to survive. Long-term user relationships can assist businesses in lowering costs and increasing profitability to retain customers which ultimately will lead to continuance intention. Despite M-wallets' relative maturity, a study in this sector has been limited to first acceptance/rejection. No study has particularly evaluated the technology's post-adoption impacts. Existing studies mostly examine the initial adoption of mobile wallet users and their antecedents. Though many people use M-wallets regularly, consistency is rare. Thus, both academic researchers and practitioners must investigate mobile wallet users' continued usage behaviour. This research conducts a thorough evaluation of the systematic review of literature on M-wallet continuous usage intentions from 2011 to 2021. The authors of this study employed systematic review methods to analyse the current state of continuous usage of M-wallet research. They identified current research streams and offered ideas for future research. The review identified the Geographic representation of mobile wallet continuous usage research, methodological approaches to investigate continuous usage intention of m-wallets, and popular theories adopted to investigate continuance intention. Through research synthesis, predictors and moderators/mediators of mobile wallets were also identified. The authors then discovered various service quality characteristics that demonstrated how trust, flow, and satisfaction—which have primarily been studied—had a direct impact on behavioural intentions as a result of service quality. The authors recommend the direction of potential future research in mobile wallets. This paper is a systematic review of the continuance usage of mobile wallets based on the dimensions of service quality and is one of the very few papers to offer a systematic review of continuous usage.

To Study the Students Behaviour on Use of Mobile Wallets

In the present scenario, Mobile phones are used everywhere. The digital wallet or Electronic wallets has made everything possible just one bit. The Mobile Wallet Applications have made users to pay any bills, college fees and manage their money transaction to any place at their convenience. The cash money in the digital format is a generally Mobile wallet Applications linked with credit card or debit card or online banking system. There are various Application of Mobile Wallets such as Google Pay, Paytm, PhonePe, Freecharge, BHIM, AmazonPay and so on. This paper will give the student’s points of view on use of Mobile Wallets and other methods of payments, college fees and other purchases.

Premier Wallet: banking the unbanked population in Somalia

Learning outcomes Upon reading, analyzing and participating in the classroom discussion of this case study, students will be able to use the blue ocean strategy (mainly the Strategy Canvas tool) to analyze how companies establish their products as viable and the go-to solution for consumers; perform a competitive analysis for competitive products; learn how to use data from the case, including industry trends, to predict the future market position of products; and learn how to develop strategies for new products in the market. Case overview/synopsis Abdishakur M. Afrah, who served as the Head of Business Development at Premier Bank, oversaw a substantial banking portfolio, which included Premier Wallet – the first digital wallet in Somalia. This case study outlines Premier Wallet’s journey and its transformative impact on the banking sector. Owing to the mobile wallet, consumers could, for the first time, engage in purchasing, withdrawing cash, shopping online and topping up without needing a bank account at Premier Bank. This allowed for the financial inclusion of the unbanked Somali population. This case study also highlights the Wallet Send feature, a disruptive feature that challenged the prevalent Hawala system in Somalia. This feature enabled customers to send money across 110 countries via their smartphones, facilitating direct deposits to the mobile or bank accounts of their family and friends or to cash withdrawal points nearby. Despite these advanced features, Premier Wallet struggled with broader acceptance, hindered by a mere 9% internet penetration, the absence of a national identification (ID) system and stiff competition from WAAFI, a fintech application supported by Hormuud Telecom, Somalia’s leading telecommunications company. The case study also delves into the strategic decisions Afrah had to make to position Premier Wallet as the top mobile money option for consumers in Somalia. Complexity academic level This case study is suited for undergraduate-level courses. Supplementary materials Teaching notes are available for educators only. Subject code CSS 3: Entrepreneurship

A Study on Embracing of Digital Wallet by Consumers

In today-world, smartphone has become essential part of daily life.Due to technology, mobile users can nowadays use their smartphones to make money transaction or payment by using applications installed in the phone.When smartphones can function as leather wallets, it is called “Digital Wallet” or widely known as “Mobile Wallet”. The present study tries to study the various factors that can affect a consumer’s decision to adopt digital wallet as a mode of online payment. Apart from this, the study also attempt to find out the various risks and challenges faced by users of digital wallet.
 Objectives:
 
 To understand how consumers perceive new technological service namely Digital Wallet
 To study the factors that influence consumers in adoption of digital
 To study the risk and challenges faced by consumers in use of digital
 
 Method:
 A structured questionnaire was sent to 150 smart phone users who also use digital wallet for online payment. The respondents were categorised on the basis of gender, age and occupation. Out of 150 people only 132 responded to the questionnaire.The questions were based on consumer’s preference for online mode of payment, the factors affecting their choice and the challenges faced by them while using digital wallet. This research used quantitative method ANOVA in order to get the statistic result from respondents.
 Conclusion:
 Digital wallets are quickly becoming mainstream mode of online payment. Shoppers are adopting digital wallets at an incredibly rapid pace, largely due to convenience and ease of use. Tech-savvy shoppers are increasingly demanding seamless, omni-channel retail experiences and looking for solutions that deliver this.

Digital Wallet Development in India: A Learning on Consumers’ Pleasure.

In today’s fast-moving lifestyle people need to adopt more convenient and secure gadgets to make their life more comfortable. To achieve this goal, there is an innovative application called Digital Wallet. The digital wallet refers to an electronic device or service provided to persons enabling them to conduct electronic transactions. It is also known as e-wallet. Virtual cash or Cashless Transaction is an upcoming technology that has seen a tremendous growth in the past year. Cashless payments are now becoming a popular trend in almost every field. Demonetization has forced a lot of places to accept digital payments. Use of e-wallets helps in moving away from cash based economy. In the process, all the transactions get accounted in the economy, which has the effect of reducing the size of the parallel economy. The presence of mobile wallet spreading from urban to rural areas on a large scale. Hence, wallet money sees a high bright future in near time. It is concluded that India's digital payments industry will grow to more than 300% of its current size by 2025. The growth arc of digital payments is impressive, especially considering India's previously large unbanked population.

Current trends in the development of small and medium–sized businesses

According to the World Bank, small and medium–sized enterprises (SMEs) represent 90% of enterprises and more than 50% of jobs worldwide, they contribute almost 50% of gross domestic product (GDP) to global GDP. Small business is important for any economy in terms of employment and contribution to the national gross domestic product. Despite its importance, small businesses continue to face various unresolved problems. The latest technological innovations in the field of finance, which are collectively called fintech, seem to solve some problems, causing the development of a steady trend of digitalization of the sphere of small and medium–sized businesses. Fintech–based business models, such as crowdfunding, peer–to–peer lending, billing, mobile wallets and payments, as well as supply chain financing on the platform, are changing the ecosystem of small and medium–sized businesses. The article examines the current trends in the development of small and medium–sized businesses in the context of digital financial products developed within the framework of fintech innovations.

Customer Preference for Electronic Payment Systems for Goods: A Case Study of Some Selected Shopping Malls, Bolgatanga

The transformation of payment systems in the digital age has reshaped the way customers interact with businesses. This study, conducted at Melcom Mall in Bolgatanga, Upper East Region, Ghana, delves into ”Customer Preference for Electronic Payment Systems for Goods.” Through extensive surveys and analysis, this paper reveals critical insights into the electronic payment behaviors and preferences of customers. Key findings underscore the dominance of monthly electronic payment usage, with mobile wallets emerging as the preferred method. Customers exhibit high levels of satisfaction, emphasizing the importance of user-friendly and secure payment solutions. Convenience and security play pivotal roles in shaping customer choices, while rewards and promotional campaigns also significantly influence their preferences. Despite the success of electronic payments, customers express concerns about hidden fees, technical issues, and the responsiveness of customer support. In response, we propose recommendations to enhance transparency, user education, technical infrastructure, payment options, security measures, tailored promotions, and responsive customer support. This paper serves as a valuable guide for merchants and policymakers in optimizing electronic payment systems, fostering customer satisfaction, and adapting to the evolving landscape of digital payment methods.

A PLS-SEM Approach to Investigate the Effect of Satisfaction on Willingness to Recommend M-wallet Services

Mobile wallets (m-wallets), a particular form of mobile payment system, are gaining considerable attention in different emerging markets. This study uses the stimulus-organism-response model to understand how user recommendation depends on intention to use and satisfaction in the m-wallet payment system at the post-adoption stage in emerging markets. This research also investigates the mediating role of satisfaction between intention to use and recommendation. Online convenience and snowball sampling yielded 474 valid responses. This research applied the partial least squares-structural equation modelling approach to determine the relationship among the latent variables, model parameters estimation and mediation analysis. The results show that significant stimuli, namely brand awareness, perceived quality, compatibility and functional congruity, influence the intention to use m-wallets and users’ satisfaction. The analysis explains that improving the intention to use is insufficient to control the willingness to recommend because users’ satisfaction partially mediates between intention to use and willingness to recommend. Our study contributes to m-wallet users’ propensity to refer to the emerging market’s context. This study explains how customer satisfaction affects m-wallet users’ willingness and intention to make a recommendation at the post-adoption stage.

Mobile wallet adoption model among digital immigration generation in Indonesia

Fintech innovations such as mobile wallets (m-wallet) are reshaping the payment landscape, m-wallet users in Indonesia are relatively high, but there is a gap in the number of m-wallet users by age group. The highest number of m-wallet users, mostly the young generation, is based on age. The digital immigrant generation is another age group with the potential to increase but still needs to be higher in adoption. This research's primary objective is to determine the effect of m-wallet adoption in Indonesia. This study aimed to comprehend how consumers adopted m-wallets. Four hundred respondents categorized as digital immigrants in Indonesia were surveyed quantitatively using a cross-sectional study approach using Smart PLS 3.1, and Partial Least Square Structural Equation Modeling (PLS-SEM) was used to evaluate the obtained data. The findings showed that perceived behavioral intention is significantly influenced by Perceived Usefulness (PU), Perceived Ease of Use (PEOU), Perceived Security (PS), and Perceived Trust (PT). Consumer Behavioral intention is also significantly influenced by m-wallet adoption by digital immigrants in Indonesia.