Bridging the gap: how knowledge sharing, individual values, financial literacy and incentives drive digital payment adoption in Pakistan

Purpose This study aims to investigate the many elements that affect the adoption of digital payments in Pakistan, with an emphasis on the role of digital knowledge sharing, personal values, financial literacy and incentives on digital payment. Design/methodology/approach This study’s theoretical foundation is the “Theory of Acceptance and Use of Technology (UTAUT).” Utilizing the conveyance sampling technique, data were gathered from 237 respondents using a pre-tested scale. The framework and analysis were empirically validated, using a two-stage structural equation modeling methodology through PLS-SEM software. Findings The outcomes demonstrated that sharing digital knowledge improved financial literacy. A significant mediating role for financial literacy was also discovered between the behavioral intentions for digital payment and the sharing of digital knowledge. Additionally, the moderating effect of individual value was found to be important in the relationship between financial literacy and the sharing of digital knowledge. The relationship between financial literacy and behavioral intentions toward digital payments is also moderated by incentives on digital payment. Originality/value The shift from cash-based transactions to digital payments marks a critical turning point in Pakistan’s financial environment. This study gives perceptions and suggestions to improve financial inclusion and the acceptance of digital payment in Pakistan. It accomplishes this by trying to offer a thorough understanding of the factors impacting the adoption of digital payment.