Toward comprehensive understanding of m-wallet adoption: the significance of user perceptions and financial autonomy

Purpose Recognizing the transformative impact of financial technology (Fintech) and mobile wallets (m-wallets) on modern financial practices, this study aims to explore the complex dynamics of m-wallet adoption in Bangladesh, focusing on user perceptions and financial autonomy. By integrating self-determination theory (SDT) and diffusion of innovation (DOI) theory, the authors propose a model incorporating constructs such as perceived security (PS), perceived trust (PT), compatibility, ease of use (EOU), perceived financial autonomy (PFA), perceived financial competence (PFC), relative advantage (RA) and intention-to-use (IU). Design/methodology/approach This study used a survey-based methodology to gather data from m-wallets users in Bangladesh. In this survey, 445 individuals participated; 393 of those were deemed legitimate and were chosen for study. Partial least squares-structural equation modeling was used in the investigation. This method made sure that the relationships between the proposed model’s constructs were thoroughly examined. Findings The research findings confirm that PFC significantly impacts the IU m-wallets and PFA. PFA also positively influences the IU. PS impacts the IU and PT, which further affects the IU. EOU influences RA and the IU. The study highlights the importance of PFC, PS, PT and EOU in driving the adoption of m-wallets. Originality/value This study integrates SDT and DOI theory to explore m-wallet adoption. It highlights financial competence and autonomy as key factors, offering insights and practical strategies for Fintech stakeholders in emerging markets to enhance adoption through financial literacy, security measures and user-friendly designs.