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The Adoption of E-Wallets: Current Trends and Future Outlook

The Adoption of E-Wallets: Current Trends and Future Outlook
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Author(s): Adel Ismail Al-Alawi (University of Bahrain, Bahrain), Ali H. Al-Hammam (University of Bahrain, Bahrain), S. Sadiq Al-Alawi (University of Bahrain, Bahrain) and Ebtesam Ismaeel AlAlawi (University of Bahrain, Bahrain)
Copyright: 2021
Pages: 21
Source title: Innovative Strategies for Implementing FinTech in Banking
Source Author(s)/Editor(s): Yousif Abdullatif Albastaki (Ahlia University, Bahrain), Anjum Razzaque (Ahlia University, Bahrain) and Adel M. Sarea (Ahlia University, Bahrain)
DOI: 10.4018/978-1-7998-3257-7.ch015

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Abstract

This chapter measures the attitudes of people residing in the Kingdom of Bahrain toward adopting mobile banking technology, also known as e-Wallets. The Technology Acceptance Model, the Unified Theory of Acceptance and Use of Technology, and the Diffusion of Innovations model were used to construct a questionnaire with the added focus on the promotional aspects. A total of 1,740 responses obtained from individuals in Bahrain revealed a high level of adoption rates. All dimensions measured were confirmed to have a significant impact on the adoption of e-Wallets, particularly those related to promotional benefits, which reveals a need for future studies to focus on the marketing approaches of mobile payment technologies. Studied factors were confirmed to have a significant impact on the usage and adoption of e-Wallets in the Kingdom of Bahrain. More focus is required from a benefits perspective rather than the technical perspective. Financial institutions need to pay more considerable attention to the changing mindsets of people toward making payments and the shift to new technologies.

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