How does perceived security influence mobile wallet users' behavior? A SEM investigation

Purpose The digital disruptions have provided alternative methods of monetary transactions. Despite the digital wave, cash as a payment option has regained its position. The purpose of this research is to investigate behavioral intentions of mobile wallet (m-wallet) users. The paper explores the dynamics of perception, behavioral intention motivation and satisfaction of m-wallet users. Design/methodology/approach The authors have used a self-administered questionnaire for data collection. A total of 506 responses were analysed using confirmatory factor analysis in conjunction with Structural Equation Modeling, ensuring the validity and reliability of the insights into the behavioral dynamics of m-wallet users. Findings The research highlights the direct impact of perceived security on m-wallet users' perceptions, which subsequently influence both direct and indirect behavioral intentions. Moreover, satisfaction emerged as a significant determinant directly shaping behavioral intentions. Originality/value This study contributes significantly to the existing literature by offering a comprehensive understanding of the factors driving m-wallet adoption and usage intentions, thereby equipping stakeholders and policymakers with the necessary tools to devise effective strategies to promote mobile payment technologies in North India. The study employs a multifaceted model that incorporates six key elements, providing a comprehensive understanding of the complex interrelationships among these variables.