Factors Affecting Consumer Mobile Payment Adoption in Bangladesh: An Empirical Assessment Using UTAUT

This study examines the determinants of consumer mobile payment adoption in Bangladesh using the Unified Theory of Acceptance and Use of Technology (UTAUT). Primary survey data from 237 respondents were analyzed using descriptive statistics, correlation analysis and multiple regression. Following a wording-based review of the questionnaire, the measurement model classified Performance Expectancy (PE), Effort Expectancy (EE), Social Influence (SI), Facilitating Conditions (FC), Behavioral Intention (BI) and Use Behavior (UB) consistently with the UTAUT framework. The corrected PE–EE–SI model explains approximately 61.9% of the variance in behavioral intention (R² = 0.619; adjusted R² = 0.614). Conventional regression indicates positive relationships between PE, EE, SI and BI; however, substantial multicollinearity among PE, EE and SI makes individual coefficient interpretation sensitive to model specification. Behavioral intention is strongly associated with use behavior, whereas facilitating conditions provide weaker evidence in the present sample. The findings provide an empirical assessment of a parsimonious UTAUT model in Bangladesh and highlight the need for future studies to incorporate contemporary consumer-oriented constructs such as habit, price value, trust and perceived security through theoretically pre-specified models.