Evaluating mobile wallet acceptance factors using best worst method

Abstract

The aim of the present research is to propose a novel multi-criteria approach for assessment of mobile wallet (m-wallet) key acceptance factors. Six critical acceptance factors are identified through extensive literature review and discussion with an expert. A new important factor influencing acceptance of m-wallet called 'policy and regulatory measures' has been proposed by authors. This has resulted in total of seven key acceptance factors. A relatively new and efficacious multi-criteria decision-making technique named best worst method (BWM) has been applied to evaluate and rank the key acceptance factors. Sensitivity analysis has been conducted to examine the reliability of the study. Analysis revealed 'perceived security and trust' as the top most factor leading to acceptance of m-wallet among consumers. Examination of the literature indicates that this study is among the pioneer studies to prioritise key acceptance factors of m-wallet acceptance using BWM. The focus on key acceptance factors proposed in this study will help m-wallet service providers to improve their business processes. This will eventually help them to increase m-wallet acceptance.