Money at my Fingertips: Decoding the Role of Referent Network Size and Financial Knowledge in Reinforcing Continuance Intention of m-Payment Services

Service providers are ardent about promoting mobile payment (M-payment) technologies that enhance customer experience and foster a favorable attitude toward M-payments. Considering this, our study investigates the continuance intention of M-payment services, encouraging mobile users to utilize M-payments in their everyday financial transactions. Our research used structural equation modeling (SEM) to expand the horizons of the unified theory of acceptance and use of technology 2 (UTAUT2) and the traditional behavioral intention model (TBIM) in M-payments. The survey examined the intention of 620 mobile users to continue using M-payment services. Mediation and moderation techniques explored the models' direct and indirect relationships. The results show that users' attitude toward M-payment is amplified by quality of service, financial knowledge, perceived enjoyment, and referent network size, further escalating the continuance intention of M-payment services. Customers' attitudes toward M-payment services partially mediate the relationship between the underlying constructs. Moreover, perceived customer responsiveness strengthens the link, whereas perceived technological uncertainty weakens the association between user attitude toward M-payment services and continuous intention. The study results could be useful for various stakeholders, including M-payment service providers, retail managers, customers, marketing companies, and policymakers, in enhancing India's digital payment infrastructure.