ABSTRACT The swift advancement of technology and the convenience of mobile payment use have significantly contributed to its growth, impacting financial inclusion in developing regions. However, continuity remains a challenge for users in these regions favoring cash. To address this, we investigate how users often exhibit herding behavior that influences mobile payment usage and not just techno-behavioral factors, as suggested by past literature. We propose that users frequently imitate others’ actions owing to the networked nature of mobile payment technology and design a research model comprising multiple dimensions of both rational and irrational herding behavior affecting its continued usage. With 507 user survey responses, we confirmed our model’s validity. Results reveal a balancing impact of both rational and irrational herding on continuance intention, providing insights for enhancing the technology’s popularity in financial inclusion efforts. This study enhances mobile payment literature by integrating theoretical aspects of herding behavior.