Mobile wallets: key drivers and deterrents of consumers’ intention to adopt

ABSTRACT Mobile wallets are one of the latest innovations with a considerable potential to change how consumers make purchases and enhance their shopping experiences. However, their diffusion has been much slower than initially anticipated, particularly in countries such as the UK where the present study was conducted. The services offered by the mobile wallet have to be secure, reliable, and constantly available. Any problems during mobile wallet use are likely to affect consumers’ perceived value and level of satisfaction with the service providers. This study identifies key drivers and deterrents of a mobile wallet adoption. The study utilizes a mixed-method research design to gain deeper insights and understanding of the studied phenomena. Accordingly, the study findings are firmly grounded in empirical evidence. The conceptual model blends existing with new ideas emanating from the real-life experiences of the study participants. Our findings confirm the important role of all factors considered in the model: they affected directly and/or indirectly consumers’ intention to adopt the mobile wallet and explained a substantial portion of its variance. In addition to enriching existing knowledge on consumer behavior toward innovations, our findings provide valuable insights to marketers and retailers by helping them make effective decisions regarding the use of this recent innovation for the benefit of all stakeholders involved.