This study aims to test the conceptual model of consumers’ intention and satisfaction towards mobile wallets. This study uses the integrated UTAUT model which includes variables such as ease of use, trust, security, self-efficacy etc., and an additional variable (hedonism) to test consumers’ behaviour in the context of mobile banking technologies. Regression Analysis, ANOVA and descriptive analysis are used to test the relationship among several dimensions such as perceptions, preferences, satisfaction and usage rate of mobile wallets in north India. A sample of 204 north Indian consumers was taken to understand the consumers’ adoption behaviour towards mobile wallet. The study explains the significance of the proposed model and its effectiveness to understand the behaviour of north Indian consumers. The result show significant association between consumers’ perception, preference, usage and satisfaction. Security, trust, hedonism are few of the most influencing variables in the study. Demographic variables such as gender and age also influence consumer satisfaction and usage rate of mobile wallets in north India. The proposed model and results of the study bring valuable insights to researchers and practitioners in the context of usage of mobile wallets.
Various standardized scales were used for the present study. Statistical techniques like Descriptive statistics, Analysis of Variance, T-test, Chi-Square and Regression Analysis were used to assess the data. The data was collected with three separate questionnaires on variables perception, preference, usage, and Satisfaction.
Findings of this study show a strong relation between customer’s perception, preference and satisfaction of mobile wallet users. Result also shows the impact of customer’s perception, satisfaction and preference on the usage rate of mobile wallets in India. We have collected responses from the various regions in south and north India.
First contribution of this study is that, it shows a strong correlation between consumers’ perception, preferences and satisfaction. Various literature is available to understand the impact of perception on satisfaction (Samudra & Phadtare, 2012; Venkatesh and Davis, 2000, Thakur, 2013) but, very few studies have integrated it with preference and mobile wallet usage. Moreover, no study is available on these variables for north Indian consumers specifically.This study is unique in the sense that it discuss the association of consumer’s perception with type of transactions they prefer to do in M-wallets. This paper also identify one more crucial factors, “Hedonism” which is not discussed extensively in the literature.
Present study has several implications to mobile technology industry and banking system to identify new strategies for mobile wallet usage. Factors like security, convenience and trust, influence consumers’ intention. This indicates that, industries and banks must verify users’ privacy norms and evaluate social trends to enhance user’s satisfaction and usage rate. Hedonism is determined as one of the significant variable to measure consumer’s satisfaction and usage tendency. Mobile technology providers should work on the appearances and design of the apps, and promote its convenience and benefits to increase its usage in north India. Based on the findings of this study, companies can also evaluate preferred wallet services for consumers, and factors affecting those services. This will help them to add more attractive services based on consumers’ feedback, and remove unwanted services.
Although various studies has been conducted on the perception of customers on various mobile payment system but this paper is first of its kind to study customer’s perception about wallets and type of transactions; they prefer to do through mobile wallets.This paper also study the impact of mobile wallet usage and various factors affecting usage rate.This paper also identified one crucial factors, “Hedonism” which are not discussed thoroughly in the literature extensively and its significance in north India.
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