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

Abstract

Purpose

The 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/approach

The 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.

Findings

The 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/value

This 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.

Citation

Chand, K., Tiwari, R., Gupta, A., Taneja, S. and Özen, E. (2025), "How does perceived security influence mobile wallet users' behavior? A SEM investigation", Managerial Finance, Vol. 51 No. 1, pp. 146-165. https://doi.org/10.1108/MF-05-2024-0414