Exploring Mobile Wallet Adoption in the Philippines: A Partial Least Squares Path Modelling Approach

Abstract

Underpinned on the technology acceptance model (TAM) and cognition-affect-behavior (CAB) model, the present undertaking aims to examine the factors affecting the perceived satisfaction of users towards mobile wallet services, and how perceived satisfaction leads to the intention to recommend the said technology to others. Using purposive sampling, the identified respondents were composed of active users of the leading mobile wallet in the Philippines (n = 749). To measure the hypothesized relationships, structural equation modelling via partial least squares was utilized. The results reveal that perceived ease of use, perceived usefulness, perceived risk, and attitude have a significant effect on mobile wallet users’ perceived satisfaction. It was also found that perceived satisfaction and trust translate to users’ intention to recommend mobile wallets to others. Moreover, perceived satisfaction and trust were identified to be significantly and directly related. Regarding mediation analysis, the results show that trust has an indirect effect on the relationship between perceived satisfaction and intention to recommend. Similarly, the results showed the mediating role of perceived satisfaction on the links between the exogenous variables – perceived ease of use, perceived usefulness, perceived risk, and attitude, and intention to recommend (endogenous variable). And lastly, it was found that technological stress and social influence do not moderate the link between perceived satisfaction and intention to recommend.