Assessing indirect effect of behavioral intentions on financial inclusion – a serial mediation model

Abstract

PurposeThe research examines how behavioral intentions, as a higher-order construct, indirectly affect financial inclusion through service trust, usage behavior and financial literacy in mobile money adoption.Design/methodology/approachFollowing the positivist research philosophy, a cross-sectional study design was used to collect data through questionnaires comprised of scales adapted from prior studies. With a usable sample size of 340 respondents, this study employs partial least squares structural equation modeling to assess the model.FindingsThe study revealed the significant indirect role of behavioral intention on financial inclusion through use behavior, behavioral intentions on use behavior through service trust, and use behavior on financial inclusion through financial literacy. The role of behavioral intentions on financial inclusion through serial mediation of service trust, use behavior and financial literacy was also found to be significant.Originality/valueThis study's novelty resides in examining the indirect relationship between behavioral intentions and financial inclusion, specifically via the serial mediation of service trust, use behavior and financial literacy.