The Adoption of E-Wallets

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.