Factors Influencing Consumer Attitude and Intentions Towards Using Mobile Wallet In India – An Empirical Study

Abstract

his study aims to examine the variables that play a significant role in moulding Indian consumers' attitudes and willingness to adopt mobile wallets. In order to achieve this objective, the researchers put forward an all-encompassing model that builds on the Technology Acceptance Model (TAM), Unified Theory of Acceptance and Use of Technology (UTAUT), and other literature on technology usage. An extensive literature review and focus group discussions were conducted to create a preliminary instrument for the study, which was subsequently tested in a nationwide survey consisting of 744 respondents chosen through convenience sampling. The research culminated in a set of significant observations, indicating that factors such as perceived ease of use (PEOU), perceived usefulness (PU), trust, security, facilitating conditions (FC), and lifestyle compatibility have a significant impact on consumers' attitudes and intentions towards mobile wallets. Of the 17 hypotheses initially proposed, 15 were proven to be true, with ease of use emerged as the most significant factor influencing usefulness and trust, while perceived usefulness played an equally critical role imposing a substantial impact on trust, attitude, and intention. The study further emphasized the importance of trust and safety in promoting the adoption of mobile wallets, calling for the creation of a secure infrastructure requiring the involvement of key stakeholders such as financial institutions, mobile wallet providers, government entities, and security experts.