Generational differences in accepting mobile wallet: comparison of generations X and Y

Abstract

Consumers tend to prefer cashless payment methods such as the mobile wallet to buy products and services. The adoption of mobile wallet, however, depends on individual consumer characteristics. Thus, this study relies on the theory of technology acceptance and generational cohorts to investigate generational differences in mobile payment acceptance. An online survey was conducted among consumers of generations X and Z that resulted in a sample of 580 respondents. The collected data were analysed with multi-group structural equation modelling. The results show that mobile technology acceptance impacts generations X and Z to a different degree. For Generation X, the perceived ease of use, the subjective norms, and the financial risk are more important when they think about using mobile wallet. In contrast, Generation Z appreciates more the compatibility of mobile wallets with their lifestyle. The results’ theoretical and practical implications are presented in detail