Summary of recent studies
| Paper | Research focus | Sample/country | Theoretical anchoring | Findings | Limitations |
|---|---|---|---|---|---|
| Herzallah et al. (2025) | Focus on Gen Z’s behavioral intentions toward mobile wallet (m-wallet) usage in Jordan by extending the UTAUT2 | 389 Gen Z users across Jordan | Unified theory of acceptance and use of technology 2 (UTAUT 2) framework; Moderator: Gender and personal innovativeness | UTAUT2 dimensions and personal innovativeness have a significant impact on behavioral intention, whereas hedonic motivation does not exhibit a notable effect. Additionally, personal innovativeness plays a key moderating role and gender does not show any significant moderating influence. Overall, the extended model accounts for 75.1% of the variance in behavioral intention | The absence of generational comparisons restricts insights into mobile wallet adoption across different age groups, as the focus is only on Gen Zs. Additionally, the reliance on convenience sampling stems from the lack of a clearly defined population in Jordan. Furthermore, the study focuses solely on technology adoption rather than examining its continued usage over time |
| Salah and Ayyash (2025) | Extending TAM with additional context-specific factors to understand user adoption of m-wallets adoption | Sample size of 282 Palestinian users of m-wallets | Technology adoption model (TAM) | TAM model was extended by incorporating constructs such as knowledge sharing, perceived value, privacy awareness and control and security, alongside core TAM elements | The extended TAM looked only at users’ intentions rather than their actual use. The use of a convenience sample is another limitation regarding generalizing the findings |
| Zaidan et al. (2025) | Investigating individuals’ continued intention to use electronic wallets and exploring how environmental knowledge moderates the relationship between key influencing factors | A purposive sample of 344 e-wallet users in Jordan | Theory of planned behavior | Perceived usefulness, subjective norms and perceived behavioral control directly influence the intention to continue using e-wallets. Notably, environmental concern and environmental knowledge do not have a direct impact on continuous intention. However, they act as mediators in the relationship between perceived behavioral control and continuous intention. Furthermore, environmental knowledge moderates the relationship between perceived behavioral control and subjective norms, significantly impacting users’ continuous intention to use e-wallets | While the authors used the theory of planned behavior (TPB) to explain the continued use of technology, TPB primarily focuses on predicting behavioral intentions rather than actual continuance behavior. In contrast, the expectation-confirmation model (ECM) offers a more robust theoretical foundation for examining users’ continued engagement with technology, as it directly addresses postadoption behavior and satisfaction-driven usage |
| Nguyen-Viet and Hoang Nguyen (2025) | Explore the factors that drive the continued use of mobile wallets in Vietnam, a market characterized by rapid adoption yet relatively low transaction frequency | Sample size of 996 Vietnamese users | Mobile expectation-confirmation model (MECM) | Perceived usefulness, satisfaction, mobile complementarity, gamification and grievance redressal are significant predictors of continuance intention. Interestingly, while confirmation positively influences satisfaction and complementarity, it does not have a significant effect on perceived usefulness | This study concentrated solely on factors related to MECM, gamification and grievance redressal. Calls are made to integrate additional technological or service-oriented variables on mobile wallet usage |
| Hidayat-ur-Rehman et al. (2025) | Focus on investigating the intricate dynamics of mobile wallet adoption in Bangladesh, with a particular emphasis on user perceptions and financial autonomy | 393 users of m-wallets in Bangladesh | Integration of self-determination theory (SDT) and diffusion of innovation (DOI) theory | Perceived financial competence has a significant effect on the intention to use mobile wallets, as well as on perceived financial autonomy, which positively influences intention to use a mobile wallet. Perceived security impacts both intentions and perceived trust. Additionally, ease of use influences relative advantage and intentions to use mobile wallets | The study concentrated on constructs derived from self-determination theory and diffusion of innovation theory to explain mobile wallet adoption; however, it does not address factors influencing continued usage |
| Chauhan (2024) | This study explores how users’ protective behaviors influence perceived risk and examines their suppressor effect within the context of mobile wallet and banking usage. It investigates the dynamic relationship between protective actions, perceived risk and actual usage behavior across both rural and urban environments | Two sample groups were defined as: a. 401 responses from urban populations and b. 321 responses | Integration of the protection motivation theory and the theory of planned behavior with social media norms | Threat appraisal, coping appraisal, along with subjective norms and social media norms, play a crucial role in shaping attitudes toward protective behaviors. These attitudes, in turn, significantly influence both protective actions and usage behaviors | The use of judgmental sampling may introduce bias into the findings. Additionally, the proposed model was tested exclusively on mobile wallet and banking applications, limiting its applicability to other digital financial services |
| Bhattacharya and Bera (2024) | Investigating consumer-driven brand choice modeling within the context of m-wallet services | 474 online responses from Indian m-wallet users | Theory of utility maximization | User expectation fulfilment, satisfaction and trust are key factors in shaping brand choice behavior for mobile wallet services, with demographic variables also playing a significant role | Alternative choice modeling approaches were not explored. The research does not address the continuance usage of mobile wallets, limiting its scope |
| Joshi and Chawla (2024) | Examines the impact of perceived security on behavioral intention through the mediating role of trust attitude and further investigates the moderating effect of gender | Online sample of 744 m-wallet users in India | Stimulus–organism–response (S–O–R) theory Moderator: attitude and gender | The proposed model accounts for 64.4% of the variance in behavioral intention. Perceived security significantly influences trust and attitude, which, in turn, positively affect behavioral intention. Moreover, both trust and attitude act as independent and parallel mediators in the relationship between perceived security and behavioral intentions. Gender moderates the links between trust and behavioral intentions as well as between attitude and behavioral intentions | The study did not account for certain context-specific factors that could have been examined. The use of convenience sampling is another limitation. Future research is encouraged to examine the outcomes associated with perceived trust to better understand its role in mobile wallet adoption and continued usage |
| Chand and Kumar (2024) | Examining user’s intention to adopt the m-payment in Fiji | Sample size of 301 m-payment users in Fiji | Unified theory of acceptance and use of technology (UTAUT) | Findings suggested that of all the variables that affect users’ intention to adopt the m-payment system in Fiji, the most important factors are performance expectancy and facilitating conditions | One major limitation of this study lies in the appropriate application of the UTAUT framework in capturing the complexities of the proposed research model. The sampling strategy raises another limitation as the sample may not fully represent the broader population |
| Kapoor, Sindwani and Goel (2024) | Identifying inhibitors to mobile wallet adoption among unorganized retailers and studying relationships between them | 13 inhibitors are first identified using review of literature. DEMATEL and ISM-MICMAC approach is then used to assess the complex interlinkages between these 13 inhibitors | Innovation resistance theory (IRT) | Key barriers impacting the adoption of mobile wallets among unorganized retailers include PR, low awareness about m-wallet benefits, lack of training and support, safety and reliability issues, privacy concerns, low reachability to the mass market and technology and networking issues. Whereas the perceived image of m-wallet, lack of acceptance among customers, lack of acceptance among suppliers, early adoption hesitation and preference for cash turned out to be the most influential barriers | This focuses exclusively on the adoption of m-wallets by retailers, using literature review and DEMATEL and ISM-MICMAC methods |
| Saxena et al. (2023) | Identify and analyze the key factors that facilitate or hinder consumer adoption of m-banking services | Sample size of 536 mobile banking customers from Delhi/NCR area in India | Unified theory of acceptance and use of technology (UTAUT) and the technology readiness (TR) framework. Moderator: age group and gender | Enabling factors such as performance expectancy, effort expectancy, social influence, optimism and innovativeness exert a stronger influence on users’ intention to adopt mobile banking compared to inhibiting factors like discomfort, insecurity and cognitive resistance. Age does not play a significant moderating role in the relationship between facilitating factors and behavioral intention, but gender does | The research design used in this study presents certain constraints, such as convenience sampling, focusing on a small area to obtain responses. This has implications to impact the generalizability of the findings |
| Paper | Research focus | Sample/country | Theoretical anchoring | Findings | Limitations |
|---|---|---|---|---|---|
| Focus on Gen Z’s behavioral intentions toward mobile wallet (m-wallet) usage in Jordan by extending the UTAUT2 | 389 Gen Z users across Jordan | Unified theory of acceptance and use of technology 2 ( | UTAUT2 dimensions and personal innovativeness have a significant impact on behavioral intention, whereas hedonic motivation does not exhibit a notable effect. Additionally, personal innovativeness plays a key moderating role and gender does not show any significant moderating influence. Overall, the extended model accounts for 75.1% of the variance in behavioral intention | The absence of generational comparisons restricts insights into mobile wallet adoption across different age groups, as the focus is only on Gen Zs. Additionally, the reliance on convenience sampling stems from the lack of a clearly defined population in Jordan. Furthermore, the study focuses solely on technology adoption rather than examining its continued usage over time | |
| Extending | Sample size of 282 Palestinian users of m-wallets | Technology adoption model ( | The extended | ||
| Investigating individuals’ continued intention to use electronic wallets and exploring how environmental knowledge moderates the relationship between key influencing factors | A purposive sample of 344 e-wallet users in Jordan | Theory of planned behavior | Perceived usefulness, subjective norms and perceived behavioral control directly influence the intention to continue using e-wallets. Notably, environmental concern and environmental knowledge do not have a direct impact on continuous intention. However, they act as mediators in the relationship between perceived behavioral control and continuous intention. Furthermore, environmental knowledge moderates the relationship between perceived behavioral control and subjective norms, significantly impacting users’ continuous intention to use e-wallets | While the authors used the theory of planned behavior ( | |
| Explore the factors that drive the continued use of mobile wallets in Vietnam, a market characterized by rapid adoption yet relatively low transaction frequency | Sample size of 996 Vietnamese users | Mobile expectation-confirmation model ( | Perceived usefulness, satisfaction, mobile complementarity, gamification and grievance redressal are significant predictors of continuance intention. Interestingly, while confirmation positively influences satisfaction and complementarity, it does not have a significant effect on perceived usefulness | This study concentrated solely on factors related to MECM, gamification and grievance redressal. Calls are made to integrate additional technological or service-oriented variables on mobile wallet usage | |
| Focus on investigating the intricate dynamics of mobile wallet adoption in Bangladesh, with a particular emphasis on user perceptions and financial autonomy | 393 users of m-wallets in Bangladesh | Integration of self-determination theory ( | Perceived financial competence has a significant effect on the intention to use mobile wallets, as well as on perceived financial autonomy, which positively influences intention to use a mobile wallet. Perceived security impacts both intentions and perceived trust. Additionally, ease of use influences relative advantage and intentions to use mobile wallets | The study concentrated on constructs derived from self-determination theory and diffusion of innovation theory to explain mobile wallet adoption; however, it does not address factors influencing continued usage | |
| This study explores how users’ protective behaviors influence perceived risk and examines their suppressor effect within the context of mobile wallet and banking usage. It investigates the dynamic relationship between protective actions, perceived risk and actual usage behavior across both rural and urban environments | Two sample groups were defined as: a. 401 responses from urban populations and b. 321 responses | Integration of the protection motivation theory and the theory of planned behavior with social media norms | Threat appraisal, coping appraisal, along with subjective norms and social media norms, play a crucial role in shaping attitudes toward protective behaviors. These attitudes, in turn, significantly influence both protective actions and usage behaviors | The use of judgmental sampling may introduce bias into the findings. Additionally, the proposed model was tested exclusively on mobile wallet and banking applications, limiting its applicability to other digital financial services | |
| Investigating consumer-driven brand choice modeling within the context of m-wallet services | 474 online responses from Indian m-wallet users | Theory of utility maximization | User expectation fulfilment, satisfaction and trust are key factors in shaping brand choice behavior for mobile wallet services, with demographic variables also playing a significant role | Alternative choice modeling approaches were not explored. The research does not address the continuance usage of mobile wallets, limiting its scope | |
| Examines the impact of perceived security on behavioral intention through the mediating role of trust attitude and further investigates the moderating effect of gender | Online sample of 744 m-wallet users in India | Stimulus–organism–response (S–O–R) theory Moderator: attitude and gender | The proposed model accounts for 64.4% of the variance in behavioral intention. Perceived security significantly influences trust and attitude, which, in turn, positively affect behavioral intention. Moreover, both trust and attitude act as independent and parallel mediators in the relationship between perceived security and behavioral intentions. Gender moderates the links between trust and behavioral intentions as well as between attitude and behavioral intentions | The study did not account for certain context-specific factors that could have been examined. The use of convenience sampling is another limitation. Future research is encouraged to examine the outcomes associated with perceived trust to better understand its role in mobile wallet adoption and continued usage | |
| Examining user’s intention to adopt the m-payment in Fiji | Sample size of 301 m-payment users in Fiji | Unified theory of acceptance and use of technology ( | Findings suggested that of all the variables that affect users’ intention to adopt the m-payment system in Fiji, the most important factors are performance expectancy and facilitating conditions | One major limitation of this study lies in the appropriate application of the | |
| Identifying inhibitors to mobile wallet adoption among unorganized retailers and studying relationships between them | 13 inhibitors are first identified using review of literature. DEMATEL and ISM-MICMAC approach is then used to assess the complex interlinkages between these 13 inhibitors | Innovation resistance theory ( | Key barriers impacting the adoption of mobile wallets among unorganized retailers include PR, low awareness about m-wallet benefits, lack of training and support, safety and reliability issues, privacy concerns, low reachability to the mass market and technology and networking issues. Whereas the perceived image of m-wallet, lack of acceptance among customers, lack of acceptance among suppliers, early adoption hesitation and preference for cash turned out to be the most influential barriers | This focuses exclusively on the adoption of m-wallets by retailers, using literature review and DEMATEL and ISM-MICMAC methods | |
| Identify and analyze the key factors that facilitate or hinder consumer adoption of m-banking services | Sample size of 536 mobile banking customers from Delhi/NCR area in India | Unified theory of acceptance and use of technology ( | Enabling factors such as performance expectancy, effort expectancy, social influence, optimism and innovativeness exert a stronger influence on users’ intention to adopt mobile banking compared to inhibiting factors like discomfort, insecurity and cognitive resistance. Age does not play a significant moderating role in the relationship between facilitating factors and behavioral intention, but gender does | The research design used in this study presents certain constraints, such as convenience sampling, focusing on a small area to obtain responses. This has implications to impact the generalizability of the findings |
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