Determinants of Adoption Readiness, Perceived Risk, and Behavioural Intention Toward Mobile Wallet Adoption in Malaysia.
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Universiti Malaysia Sarawak
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The rapid development of digital financial technologies has transformed the global financial services landscape, with mobile wallet applications emerging as a key platform for facilitating digital transactions. In Malaysia, the adoption of mobile wallet services has increased significantly in recent years due to rising smartphone penetration, government initiatives supporting digital payments, and growing consumer demand for convenient financial solutions. This study investigates the determinants of adoption readiness, perceived risk, and behavioural intention to use mobile wallet services among Malaysian consumers. The research integrates constructs from the Technology Acceptance Model (TAM) and Innovation Diffusion Theory (IDT) to examine the influence of perceived usefulness, perceived ease of use, compatibility, trialability, and observability on adoption readiness. A quantitative research approach was employed, and data were collected through a structured survey administered to mobile wallet users in Malaysia. The data were analysed using exploratory factor analysis and multiple regression analysis to test the proposed hypotheses. The findings indicate that perceived usefulness, perceived ease of use, compatibility, trialability, and observability significantly influence consumers’ adoption readiness toward mobile wallet services. The results also demonstrate that demographic characteristics moderate selected relationships between adoption readiness, perceived risk, and behavioural intention. Overall, the study provides important theoretical and practical insights for policymakers, financial institutions, and fintech service providers in enhancing mobile wallet adoption and strengthening consumer trust in digital financial services.