What Explains the Adoption of Mobile Wallets? A Study from Merchants' Perspectives.

The extant literature on mobile financial services indicates that the work on merchants' adoption of mobile wallets is sporadic and under-researched. Taking into account the critical role of merchants in the mobile payment ecosystem, this study intends to study the factors that impact merchants' intention to adopt mobile wallets. A comprehensive model combining the UTAUT model, TTF model, perceived trust, and price value was empirically tested using the PLS-SEM approach. The data was collected from 236 merchants in New Delhi, India. Among all the variables that are significant in impacting behavioral intention to use mobile wallets, the task-technology fit is the most important factor, followed by price value, perceived trust, performance expectancy, social influence, and facilitating conditions. Also, significant positive relationships were found between technology characteristics and task-technology fit, and task characteristics and task-technology fit. This study is an early attempt to elucidate merchants' perspectives toward mobile wallets in India. [ABSTRACT FROM AUTHOR]