Incorporating Sustainability: A Comprehensive Review of Factors Influencing Consumer Acceptance of Mobile Wallets

Abstract

Mobile wallets have gained widespread popularity as a convenient, secure, and user-friendly payment method embraced by consumers. However, the pace of mobile wallet adoption has exhibited variations across different markets, primarily due to a range of factors. In this study, we present an all-encompassing examination of existing literature, aiming to pinpoint the fundamental elements influencing the sustainable acceptance of mobile wallets by consumers. Through an exhaustive analysis of 80 research papers published between 2010 and 2022, we discern the prevailing factors that hold sway over the adoption of mobile wallets. Our scrutinization highlights that factor such as perceived sustainability, usefulness, ease of use, security, social influence, trustworthiness, and compatibility stand out as the most formidable propellants of mobile wallet adoption. Furthermore, our investigation uncovers hurdles that hinder the wider acceptance of mobile wallets, encompassing insufficient awareness, perceived intricacies, and lingering uncertainties regarding the technology’s sustainability. Our in-depth evaluation underscores the necessity of comprehending consumer perspectives and dispositions towards mobile wallets to galvanize their adoption sustainably. The culmination of our inquiry involves a discourse on the implications drawn from our discoveries, catering to researchers and practitioners vested in fostering the sustainable adoption of mobile wallets.