Diffusion and Adoption of E-wallets in Oman for Sustainable Growth

Abstract

The economic development of countries is relying on efficient payment systems and this is considered as the backbone of every financial system (Ligon et al., 2019). The current modern day’s innovation on payment system has led to mobile wallets and it can be viewed as the digital version of the physical transactions (Fenchi et al., 2018). The Central Bank of Oman is infusing technological innovations in the existing payment system by increasing demand for banking activities which is demonstrating healthy growth and subsequent regulatory changes (KPMG, 2019). Nevertheless, the studies have stated that the adoption of e-wallet in Oman is still in growing phase but there is disparity among the users. Hence, this study aims to understand the factors which will contribute to the users’ attitude toward e-wallet and intentions to use them. More specifically, this study explores the factors influencing the e-wallet adoption. The qualitative data for the exploratory study was collected through focus group interviews. The outcome of the study to know more about the present scenario of the e-wallet to the various stakeholders such as service providers, businesses, banks, customers and government support them to eliminate the resistance factors of its adoption in order to enhance this payment platform to a more appropriate level.