Why do people use a mobile wallet? The case of fintech companies in Jordan
Understanding consumer intentions regarding mobile wallet (m-wallet) adoption is paramount in the mobile commerce landscape, particularly in cash-centric economies like Jordan. Despite efforts to shift toward digital payments, cash transactions remain prevalent, highlighting the need to explore m-wa...
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LLC "CPC "Business Perspectives"
2024-04-01
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| Series: | Investment Management & Financial Innovations |
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| Online Access: | https://www.businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/19913/IMFI_2024_02_Khasawneh.pdf |
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| author | Ohoud Khasawneh Rana AlBahsh |
| author_facet | Ohoud Khasawneh Rana AlBahsh |
| author_sort | Ohoud Khasawneh |
| collection | DOAJ |
| description | Understanding consumer intentions regarding mobile wallet (m-wallet) adoption is paramount in the mobile commerce landscape, particularly in cash-centric economies like Jordan. Despite efforts to shift toward digital payments, cash transactions remain prevalent, highlighting the need to explore m-wallet service adoption dynamics in Jordan.This study aims to identify the factors influencing Jordanian consumers’ adoption of m-wallet services, focusing on the motivations and barriers. Utilizing the Unified Theory of Acceptance and Use of Technology (UTAUT2) as a theoretical foundation, the research integrates various models to assess technology acceptance. A questionnaire distributed among m-wallet users from fintech companies in Jordan garnered 421 responses, analyzed using the Smart PLS 3 software.The findings indicate a positive impact of all variables on the propensity for m-wallet adoption in Jordan. Notably, perceived usefulness, ease of use, and facilitating conditions significantly influenced user decisions, evidenced by R-square values of 0.78%, 0.758% and 0.684%, respectively. Meanwhile, perceived value, security, privacy, and social influence had a moderate effect. The attractiveness of alternatives and attitudes towards m-wallet usage showed lesser impact, with R-square values at 26.7% and 22.8%, respectively, illustrating varied influences on adoption rates in determining consumer adoption of m-wallet services in Jordan.This paper enhances research on mobile commerce in developing economies, focusing on Jordan. It explores the adoption of m-wallet services by fintech users, presenting a detailed model. The study provides valuable insights for advancing digital payment systems in this region. |
| format | Article |
| id | doaj-art-a6635f7be80943bfb2377345696028c7 |
| institution | Kabale University |
| issn | 1810-4967 1812-9358 |
| language | English |
| publishDate | 2024-04-01 |
| publisher | LLC "CPC "Business Perspectives" |
| record_format | Article |
| series | Investment Management & Financial Innovations |
| spelling | doaj-art-a6635f7be80943bfb2377345696028c72025-02-02T23:43:50ZengLLC "CPC "Business Perspectives"Investment Management & Financial Innovations1810-49671812-93582024-04-012128910210.21511/imfi.21(2).2024.0719913Why do people use a mobile wallet? The case of fintech companies in JordanOhoud Khasawneh0https://orcid.org/0000-0001-7374-8579Rana AlBahsh1https://orcid.org/0000-0002-9162-2811Associate Professor, Business School, Finance Department, Amman Arab University, JordanAssistant Professor, Business School, German Jordanian University, JordanUnderstanding consumer intentions regarding mobile wallet (m-wallet) adoption is paramount in the mobile commerce landscape, particularly in cash-centric economies like Jordan. Despite efforts to shift toward digital payments, cash transactions remain prevalent, highlighting the need to explore m-wallet service adoption dynamics in Jordan.This study aims to identify the factors influencing Jordanian consumers’ adoption of m-wallet services, focusing on the motivations and barriers. Utilizing the Unified Theory of Acceptance and Use of Technology (UTAUT2) as a theoretical foundation, the research integrates various models to assess technology acceptance. A questionnaire distributed among m-wallet users from fintech companies in Jordan garnered 421 responses, analyzed using the Smart PLS 3 software.The findings indicate a positive impact of all variables on the propensity for m-wallet adoption in Jordan. Notably, perceived usefulness, ease of use, and facilitating conditions significantly influenced user decisions, evidenced by R-square values of 0.78%, 0.758% and 0.684%, respectively. Meanwhile, perceived value, security, privacy, and social influence had a moderate effect. The attractiveness of alternatives and attitudes towards m-wallet usage showed lesser impact, with R-square values at 26.7% and 22.8%, respectively, illustrating varied influences on adoption rates in determining consumer adoption of m-wallet services in Jordan.This paper enhances research on mobile commerce in developing economies, focusing on Jordan. It explores the adoption of m-wallet services by fintech users, presenting a detailed model. The study provides valuable insights for advancing digital payment systems in this region.https://www.businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/19913/IMFI_2024_02_Khasawneh.pdfease of usefacilitating conditionsfintech companiesintention to use technologyJordanmobile wallet |
| spellingShingle | Ohoud Khasawneh Rana AlBahsh Why do people use a mobile wallet? The case of fintech companies in Jordan Investment Management & Financial Innovations ease of use facilitating conditions fintech companies intention to use technology Jordan mobile wallet |
| title | Why do people use a mobile wallet? The case of fintech companies in Jordan |
| title_full | Why do people use a mobile wallet? The case of fintech companies in Jordan |
| title_fullStr | Why do people use a mobile wallet? The case of fintech companies in Jordan |
| title_full_unstemmed | Why do people use a mobile wallet? The case of fintech companies in Jordan |
| title_short | Why do people use a mobile wallet? The case of fintech companies in Jordan |
| title_sort | why do people use a mobile wallet the case of fintech companies in jordan |
| topic | ease of use facilitating conditions fintech companies intention to use technology Jordan mobile wallet |
| url | https://www.businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/19913/IMFI_2024_02_Khasawneh.pdf |
| work_keys_str_mv | AT ohoudkhasawneh whydopeopleuseamobilewalletthecaseoffintechcompaniesinjordan AT ranaalbahsh whydopeopleuseamobilewalletthecaseoffintechcompaniesinjordan |