Summary of selected studies and research gap
| Author(s) | Study context | Theory | Method | Key findings | Research gap | How the present study addresses the gap |
|---|---|---|---|---|---|---|
| Venkatesh et al. (2003) | Technology adoption (Theory development) | UTAUT | Theory development | Performance expectancy, effort expectancy, social influence and facilitating conditions significantly predict technology adoption | Does not consider CBDCs, older adults, or personal values | Extends UTAUT by incorporating personal values to explain CBDC use behaviour among older adults in Nigeria |
| Choi et al. (2024) | South Korea (Older adults) | Technology acceptance | National panel survey (N = 3,465) | Digital experience, perceived ease of use and family support significantly influence FinTech adoption among older adults | Examined FinTech generally rather than CBDCs | Investigates whether similar determinants explain CBDC use behaviour among older adults |
| Minh et al. (2025) | Vietnam | UTAUT | Experimental survey using PLS-SEM | Perceived usefulness, ease of use and social influence significantly increase behavioural intention to use CBDCs | Focused primarily on behavioural intention rather than actual use behaviour | Examines both behavioural intention and actual CBDC use behaviour among older adults |
| Palanisamy et al. (2025) | India | Innovation Diffusion Theory | Survey (N = 241); PROCESS Macro (SPSS) | Financial literacy significantly improves CBDC adoption, while trust strengthens this relationship | Did not focus specifically on older adults or actual CBDC use behaviour | Examines CBDC use among older adults while incorporating security and behavioural intention |
| Desai and Bhatt (2026) | India | Extended Technology Acceptance Model (TAM) | Survey (N = 657); Structural Equation Modelling (SEM) | Personality traits and digital financial characteristics significantly influence CBDC adoption | Limited consideration of personal values among older adults | Integrates Schwartz's Theory of Basic Human Values with UTAUT to explain CBDC adoption |
| Anupama and Sengupta (2025) | Global | FinTech adoption | Systematic, bibliometric and thematic review (204 studies) | Technology anxiety, digital literacy, usability and trust are major determinants of digital finance adoption among older adults | No empirical evidence on CBDCs or developing-country older adults | Provides empirical evidence on CBDC adoption among older adults in an emerging economy |
| Guangju et al. (2026) | Pakistan (Metaverse tourism) | TAM and Theory of Planned Behaviour | Hybrid PLS-SEM and ANN (N = 329) | Technology acceptance constructs significantly explain behavioural intention towards emerging digital technologies | Focused on metaverse adoption rather than CBDCs | Reinforces the applicability of technology acceptance theories to emerging digital innovations, including CBDCs |
| Present Study | Nigeria (Older adults) | UTAUT + Theory of Basic Human Values | Survey; PLS-SEM | Examines the determinants of actual CBDC use behaviour, the mediating role of behavioural intention and the moderating role of security among older adults | Addresses the limited evidence on actual CBDC use behaviour among older adults in emerging economies | Provides an integrated value-enhanced technology adoption model for explaining CBDC use behaviour in Nigeria |
| Author(s) | Study context | Theory | Method | Key findings | Research gap | How the present study addresses the gap |
|---|---|---|---|---|---|---|
| Technology adoption (Theory development) | UTAUT | Theory development | Performance expectancy, effort expectancy, social influence and facilitating conditions significantly predict technology adoption | Does not consider CBDCs, older adults, or personal values | Extends UTAUT by incorporating personal values to explain CBDC use behaviour among older adults in Nigeria | |
| South Korea (Older adults) | Technology acceptance | National panel survey ( | Digital experience, perceived ease of use and family support significantly influence FinTech adoption among older adults | Examined FinTech generally rather than CBDCs | Investigates whether similar determinants explain CBDC use behaviour among older adults | |
| Vietnam | UTAUT | Experimental survey using PLS-SEM | Perceived usefulness, ease of use and social influence significantly increase behavioural intention to use CBDCs | Focused primarily on behavioural intention rather than actual use behaviour | Examines both behavioural intention and actual CBDC use behaviour among older adults | |
| India | Innovation Diffusion Theory | Survey ( | Financial literacy significantly improves CBDC adoption, while trust strengthens this relationship | Did not focus specifically on older adults or actual CBDC use behaviour | Examines CBDC use among older adults while incorporating security and behavioural intention | |
| India | Extended Technology Acceptance Model (TAM) | Survey ( | Personality traits and digital financial characteristics significantly influence CBDC adoption | Limited consideration of personal values among older adults | Integrates Schwartz's Theory of Basic Human Values with UTAUT to explain CBDC adoption | |
| Global | FinTech adoption | Systematic, bibliometric and thematic review (204 studies) | Technology anxiety, digital literacy, usability and trust are major determinants of digital finance adoption among older adults | No empirical evidence on CBDCs or developing-country older adults | Provides empirical evidence on CBDC adoption among older adults in an emerging economy | |
| Pakistan (Metaverse tourism) | TAM and Theory of Planned Behaviour | Hybrid PLS-SEM and ANN ( | Technology acceptance constructs significantly explain behavioural intention towards emerging digital technologies | Focused on metaverse adoption rather than CBDCs | Reinforces the applicability of technology acceptance theories to emerging digital innovations, including CBDCs | |
| Present Study | Nigeria (Older adults) | UTAUT + Theory of Basic Human Values | Survey; PLS-SEM | Examines the determinants of actual CBDC use behaviour, the mediating role of behavioural intention and the moderating role of security among older adults | Addresses the limited evidence on actual CBDC use behaviour among older adults in emerging economies | Provides an integrated value-enhanced technology adoption model for explaining CBDC use behaviour in Nigeria |
Sharing content requires targeting cookies to be enabled. Please update your cookie preferences to use this feature.