An empirical investigation on mobile payments users’ experience: insights using PLS-SEM approach

Purpose Mobile payment services (MPS) have seamlessly integrated into daily life due to their convenience and efficiency. However, MPS can be successful only if used consistently over the long term. This paper explores the insights based on users’ experience of Mobile Payments and delves into the three key dimensions, i.e. financial self-efficacy (FSE), technical self-efficacy (TSE) and constructs of technology continuance theory (TCT) that motivate MPS users to continue using MPS. Design/methodology/approach The responses of 563 MPS users were empirically validated using the partial least squares structural equation modeling (PLS-SEM) technique. Findings The results indicate both FSE and TSE exert a favorable influence on the expectation of confirmation. Besides, perceived ease of use, perceived usefulness, satisfaction and attitude are significant antecedents of the aspiration to continue using MPS. Notably, the effect size and importance-performance analyses (IPMA) highlight that perceived ease of use prominently predicts users’ intentions to persist with MPS. Research limitations/implications Findings contribute to MPS research by providing deeper insights to enhance user retention intentions. Besides, the study helps fintech companies and mobile payment platforms to design and market their MPS services to meet users’ needs and expectations in a better manner for sustained usage. Originality/value This study pioneers a novel integration of self-efficacy theory with the TCT to provide a more comprehensive, multivariate perspective on users’ intentions to continue using MPS. The research not only identifies the intricate psychological factors that contribute to the persistence of MPS but also fills a critical void in the existing literature by distinguishing between financial and technological self-efficacy. This dual-efficacy perspective illuminates how confidence in managing money and technology separately affects persistent utilization. Thus, researchers and practitioners seeking to improve user retention in digital financial ecosystems may utilize the study’s theoretically sound and practically applicable methodology.