Will metaverse revolutionize retail banking? Understanding user acceptance towards metaverse banking

Abstract

Purpose

This study examines consumers’ usage intention towards retail metaverse banking. This research also investigated the mediating impact of trust and distrust. This research also examined the moderating impact of perceived security concerns.

Design/methodology/approach

Firstly, a qualitative study is performed to explore the benefits and sacrifices that may influence usage intention. Further, the quantitative study gathered a total of 308 responses to investigate the proposed hypotheses.

Findings

The findings suggest that perceived anthropomorphism and perceived immersion positively impact the usage intention towards retail metaverse banking. Further, lack of social interaction and perceived vulnerability had a negative influence towards retail metaverse banking. Further, trust and distrust were found to be significant mediators. Also, perceived security concern was shown to be a significant moderator.

Originality/value

The study contributes to the metaverse literature and suggests to banks how to enhance usage intention towards retail metaverse banking. The study also enriches the literature on dual-factor theory.