Saleem ur Rahman, Bang Nguyen-Viet, Yen Thi Hoang Nguyen and Sohail Kamran
M-wallets have emerged as one of the most important financial innovations of the 21st century, enabling users to carry digital cash by securely storing payment methods on their…
Abstract
Purpose
M-wallets have emerged as one of the most important financial innovations of the 21st century, enabling users to carry digital cash by securely storing payment methods on their mobile devices. However, the continued use of m-wallets varies among people for several reasons. This study used the technology continuation theory (TCT), gamification and trust factors to examine the variables affecting consumers' intentions to continue using mobile wallets.
Design/methodology/approach
The SmartPLS partial least squares software was used to analyze data from 431 m-wallet users in Vietnam using the structural equation modeling technique.
Findings
The data revealed that the research model can predict users' intentions to continue using mobile wallets. TCT constructs demonstrated strong exploratory power in explaining consumer satisfaction and attitudes towards m-wallets. Furthermore, the study confirmed the direct effect of the perceived effectiveness of gamification on perceived ease of use and attitude, as well as its indirect effect on consumers' continued use intentions of mobile wallets via attitude. In addition, the trust negatively influenced consumers' intentions to continue using m-wallets.
Practical implications
The findings of this study can help researchers, practitioners and policymakers improve m-wallet design, development and adoption, as well as advance financial technology and define the future of digital payments in terms of consumer attraction, engagement and financial inclusion.
Originality/value
Based on TCT theory, this study enriches m-wallet research by examining two important factors, gamification and trust, and thus provides insights into how to improve consumers’ intentions to continue using m-wallets in developing countries. This study offers timely insights into theory and practice regarding these factors. It therefore paves the way for researchers and practitioners to learn how easy, enjoyable and secure the end-user experience should be to keep users engaged with m-wallets.
Details
Keywords
Imdadullah Hidayat-ur-Rehman, Md. Nahin Hossain, Abul Bashar Bhuiyan and Norhayah Zulkifli
Recognizing the transformative impact of financial technology (Fintech) and mobile wallets (m-wallets) on modern financial practices, this study aims to explore the complex…
Abstract
Purpose
Recognizing the transformative impact of financial technology (Fintech) and mobile wallets (m-wallets) on modern financial practices, this study aims to explore the complex dynamics of m-wallet adoption in Bangladesh, focusing on user perceptions and financial autonomy. By integrating self-determination theory (SDT) and diffusion of innovation (DOI) theory, the authors propose a model incorporating constructs such as perceived security (PS), perceived trust (PT), compatibility, ease of use (EOU), perceived financial autonomy (PFA), perceived financial competence (PFC), relative advantage (RA) and intention-to-use (IU).
Design/methodology/approach
This study used a survey-based methodology to gather data from m-wallets users in Bangladesh. In this survey, 445 individuals participated; 393 of those were deemed legitimate and were chosen for study. Partial least squares-structural equation modeling was used in the investigation. This method made sure that the relationships between the proposed model’s constructs were thoroughly examined.
Findings
The research findings confirm that PFC significantly impacts the IU m-wallets and PFA. PFA also positively influences the IU. PS impacts the IU and PT, which further affects the IU. EOU influences RA and the IU. The study highlights the importance of PFC, PS, PT and EOU in driving the adoption of m-wallets.
Originality/value
This study integrates SDT and DOI theory to explore m-wallet adoption. It highlights financial competence and autonomy as key factors, offering insights and practical strategies for Fintech stakeholders in emerging markets to enhance adoption through financial literacy, security measures and user-friendly designs.