Study of consumer intention to adopt mobile wallets

Abstract

Mobile wallet is considered as one of the advanced technologies which may be used for several personal and financial transactions through mobile phones. Mobile wallet services are getting attention worldwide due to variety of services or benefits to users. It is considered as one of the most convenient, speedy and low cost, application of mobile payment accessible to users. Despite all such benefits, usage of mobile wallets services is low in developing country like India. Low adoption and usage may be due to low awareness, trust and knowledge of using such services. It is imperative for Banks, financial firms, developers to understand the factors which may be important for increasing the adoption of mobile wallet services in India. This study aims to validate a comprehensive model of customer acceptance and merchant acceptance in the context of mobile payment. The unique contribution of the study is that analysis of the perception of both customers and merchants and their perspectives on the use and acceptance of a technology has been undertaken. The study is based on early adopters of a mobile wallet services and measured their intention towards mobile wallet services. The present study defines early adopters as, those who are having less than 6 months of usage experience with mobile wallets. The study collected sample of 301 customers and 311 merchants using purposive sampling method. The present work has applied structural equation modeling (SEM) to assess the proposed empirical research model with use of statistical tool AMOS 20. The study tested various direct and indirect effects of various variables along with mediation and moderation effect. In the context of customers, the study includes variables namely: ease of use, perceived usefulness, perceived trust, perceived overall risk, perceived innovativeness and attitude to determine the impact on customer s intention. The findings of customer s data indicate that ease of use has the highest and significant impact on attitude of customers which ...