Adoption of Mobile Money Transfer Services in Bangladesh: A Structural Equation Modeling Approach

Iftekhar Mahfuz, Suman Prosad Saha, Mahtab Fahim


In recent years, mobile phones have created a platform to expand commercial transactions in a very easy manner and have created a wide array of business opportunities through the expansion of wireless communication in developing countries. One of such uses is the use of mobile phones in financial services industry. Hence, this research aims to investigate the key factors that influence the Bangladeshi consumers’ acceptance and use of mobile money transfer technology using key constructs from the Technology Acceptance Model (TAM) and Diffusion of Innovation (DOI) theory. We analyzed the data using Structured Equation Modeling (SEM) to evaluate the strength of the hypothesized relationships, if any, among the constructs, which include Perceived Ease of Use and Perceived Usefulness, Perceived Trust, Perceived Risk, Perceived Transaction Cost and Trialability as independent variables, and Behavior Intention to Use as the dependent variable. The results provide support of the extended TAM model and confirm its robustness in predicting customers’ intention of adoption of MMT. This study contributes to the literature by formulating and validating TAM to predict MMT adoption, and its findings provide useful information for firms in formulating MMT marketing strategies.

Keywords: Technology Acceptance Model, Diffusion Of Innovation, Adoption, Mobile Money Transfer Technology, Structured Equation Modeling.

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