Determining the factors of m-wallets adoption. A twofold SEM-ANN approach

Imdadullah Hidayat-ur-Rehman, Saeed Alzahrani, Mohd Ziaur Rehman and Fahim Akhter

PLOS ONE, 2022, vol. 17, issue 1, 1-24

Abstract: M-wallets are comparatively more advantageous and convenient than conventional payment systems as m-wallets allow users to avoid cash. The present research uses the diffusion of innovation theory as the base theory to propose a research model by incorporating constructs like convenience, perceived security, personal innovativeness, and perceived trust to investigate the determinants of consumers’ intention-to-use m-wallets. A twofold approach comprising of Structural Equation Modelling—Artificial Neural Network (SEM-ANN) was used: First, partial least squares structural equation modelling (PLS-SEM) was employed to determine the significant determinants of intention-to-use. Second, the ANN approach was applied as robustness to corroborate the outcomes of PLS-SEM and to estimate the relative importance of the SEM-based significant determinants. Our findings confirmed that compatibility, ease of use, observability, convenience, relative advantage, personal innovativeness, perceived trust, and perceived security are the key elements that influence the intention-to-use m-wallets. Moreover, we ascertained that perceived security is the most influential predictor of intention-to-use. The outcomes of ANN have complemented the findings of PLS-SEM, but some differences were also exhibited in the order of influential factors. The study brings to fore significant insights and a set of suggestions for the companies carrying out the development, execution, and marketing of M-wallet services.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:plo:pone00:0262954

DOI: 10.1371/journal.pone.0262954

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