EXAMINING CRITICAL FACTORS INFLUENCING GENERATION Z’S ACCEPTANCE OF MOBILE PAYMENT SYSTEMS IN BANGLADESH: A UTAUT MODEL ANALYSIS

Abstract

Mobile payment systems have become an integral part of the digital ecosystem, simplifying financial transactions among individuals, businesses, and even the government in some cases (C2G, G2C) using handheld mobile gadgets. The current academic literature concentrates on the acceptance of mobile payment systems (MPS), including generational diversity, emphasizing the necessity for more concentration on the factors behind MPS adoption trends based on specific economic aspects concerning marketers’, marketing professionals', and practitioners' interests. Therefore, this study synthesizes the existing insights to address the current knowledge gap regarding MPS adoption among Generation Z citizens in developing economies, particularly focusing on Bangladesh. However, grounded in the UTAUT model, this study utilizes structural equation modeling (SEM). IBM SPSS 27 and SmartPLS 3.2.9 have been used for data analysis. The results of this study reveal that Gen Z citizens have positive perspectives toward MPS, and the important factors affecting their acceptance are effort expectancy, enjoyment, performance expectancy, and trust. Finally, the study offers significant insights for further studies in terms of empirical and theoretical contributions.