Why do people use a mobile wallet? The case of fintech companies in Jordan

  • Received December 28, 2023;
    Accepted March 7, 2024;
    Published April 10, 2024
  • Author(s)
  • DOI
    http://dx.doi.org/10.21511/imfi.21(2).2024.07
  • Article Info
    Volume 21 2024, Issue #2, pp. 89-102
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This work is licensed under a Creative Commons Attribution 4.0 International License

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.

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    • Figure 1. Hypothetical framework model
    • Table 1. Measurement model results
    • Table 2. Fornell-Larcker criterion
    • Table 3. Participants’ demographic characteristics
    • Table 4. Hypothesis testing results
    • Table 5. F square results
    • Table A1. Questionnaire
    • Conceptualization
      Ohoud Khasawneh
    • Formal Analysis
      Ohoud Khasawneh, Rana AlBahsh
    • Funding acquisition
      Ohoud Khasawneh
    • Investigation
      Ohoud Khasawneh
    • Supervision
      Ohoud Khasawneh
    • Writing – review & editing
      Ohoud Khasawneh
    • Data curation
      Rana AlBahsh
    • Project administration
      Rana AlBahsh
    • Resources
      Rana AlBahsh
    • Writing – original draft
      Rana AlBahsh