An empirical study on consumer attitude and behavioural intention to adopt mobile wallet in India

Indian economy has witnessed growth in digital payments attributed to growing millennial population, high smartphone usage, cheaper internet connectivity, competitive 4G pricing and supporting regulatory policies. Amongst digital payments, mobile wallets have emerged as a convenient payment mode for consumers. The purpose of the research paper is to examine the adoption of mobile wallets by extending technology adoption model (TAM) with variables adopted from innovation diffusion theory (IDT). We analysed the relationship of perceived usefulness and perceived ease of use adopted from TAM and compatibility, observability and triability adopted from IDT using structural equation modelling (SEM). Our findings suggest that perceived usefulness, perceived ease of use, compatibility and observability showed significant relationship with attitude and behavioural intentions. While triability does not significantly influence the attitude and behavioural intentions to adopt mobile wallets, the findings of the study could be helpful for mobile wallet providers to formulate managerial policies.