Factors Influencing the Adoption of Digital Wallet: Evidence from Ghana

Ofosu Amofah; Otopah Akuffo Alex; Collins Kankam Kwarteng; Ahlijah Bright; Simon Kwodjo Mesa Avorgah

doi:doi:10.11648/j.ebm.20230905.13

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Factors Influencing the Adoption of Digital Wallet: Evidence from Ghana

Ofosu Amofah, Otopah Akuffo Alex, Collins Kankam Kwarteng, Ahlijah Bright, Simon Kwodjo Mesa Avorgah

Published in European Business & Management (Volume 9, Issue 5)

Received: 14 July 2023 Accepted: 14 August 2023 Published: 27 September 2023

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Abstract

The increasing demand for virtual banking transactions in the world amidst the global COVID-19 pandemic has necessitated the need for banks to understand factors that influence the adoption of digital wallets. This study therefore focused on the assessment of the factors that influence the adoption of digital wallet in Ghana. The study employed a survey design and data were gathered from 200 individual customers of the top performing banks in terms of digital wallets. Convenient sampling method was used for the selection of the respondents who were willing and ready to participate. Partial least squares structural equation modeling (PLS–SEM) was employed for the analysis of the data. The study revealed that innovation characteristics, individual customer characteristics, organizational characteristics and external factors had significant effect on adoption. All the independent variables except individual customer characteristics had a positive effect on adoption. It is therefore recommended that management pays much commitment on understanding their innovation characteristics, organizational characteristics and external factors than the understanding of individual customer characteristics. The researchers obtained data from individual customers of the top performing banks in the area of digital wallet. The cross-sectional survey made it impossible to ascertain the possible changes in respondent’s perceptions on factors that influence their adoption.

Published in	European Business & Management (Volume 9, Issue 5)
DOI	10.11648/j.ebm.20230905.13
Page(s)	101-111
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2023. Published by Science Publishing Group

Keywords

Adoption, Digital Innovation, Digital Wallet, Pls-Sem

References

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APA Style

Ofosu Amofah, Otopah Akuffo Alex, Collins Kankam Kwarteng, Ahlijah Bright, Simon Kwodjo Mesa Avorgah. (2023). Factors Influencing the Adoption of Digital Wallet: Evidence from Ghana. European Business & Management, 9(5), 101-111. https://doi.org/10.11648/j.ebm.20230905.13

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ACS Style

Ofosu Amofah; Otopah Akuffo Alex; Collins Kankam Kwarteng; Ahlijah Bright; Simon Kwodjo Mesa Avorgah. Factors Influencing the Adoption of Digital Wallet: Evidence from Ghana. Eur. Bus. Manag. 2023, 9(5), 101-111. doi: 10.11648/j.ebm.20230905.13

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AMA Style

Ofosu Amofah, Otopah Akuffo Alex, Collins Kankam Kwarteng, Ahlijah Bright, Simon Kwodjo Mesa Avorgah. Factors Influencing the Adoption of Digital Wallet: Evidence from Ghana. Eur Bus Manag. 2023;9(5):101-111. doi: 10.11648/j.ebm.20230905.13

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@article{10.11648/j.ebm.20230905.13,
  author = {Ofosu Amofah and Otopah Akuffo Alex and Collins Kankam Kwarteng and Ahlijah Bright and Simon Kwodjo Mesa Avorgah},
  title = {Factors Influencing the Adoption of Digital Wallet: Evidence from Ghana},
  journal = {European Business & Management},
  volume = {9},
  number = {5},
  pages = {101-111},
  doi = {10.11648/j.ebm.20230905.13},
  url = {https://doi.org/10.11648/j.ebm.20230905.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ebm.20230905.13},
  abstract = {The increasing demand for virtual banking transactions in the world amidst the global COVID-19 pandemic has necessitated the need for banks to understand factors that influence the adoption of digital wallets. This study therefore focused on the assessment of the factors that influence the adoption of digital wallet in Ghana. The study employed a survey design and data were gathered from 200 individual customers of the top performing banks in terms of digital wallets. Convenient sampling method was used for the selection of the respondents who were willing and ready to participate. Partial least squares structural equation modeling (PLS–SEM) was employed for the analysis of the data. The study revealed that innovation characteristics, individual customer characteristics, organizational characteristics and external factors had significant effect on adoption. All the independent variables except individual customer characteristics had a positive effect on adoption. It is therefore recommended that management pays much commitment on understanding their innovation characteristics, organizational characteristics and external factors than the understanding of individual customer characteristics. The researchers obtained data from individual customers of the top performing banks in the area of digital wallet. The cross-sectional survey made it impossible to ascertain the possible changes in respondent’s perceptions on factors that influence their adoption.},
 year = {2023}
}

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TY  - JOUR
T1  - Factors Influencing the Adoption of Digital Wallet: Evidence from Ghana
AU  - Ofosu Amofah
AU  - Otopah Akuffo Alex
AU  - Collins Kankam Kwarteng
AU  - Ahlijah Bright
AU  - Simon Kwodjo Mesa Avorgah
Y1  - 2023/09/27
PY  - 2023
N1  - https://doi.org/10.11648/j.ebm.20230905.13
DO  - 10.11648/j.ebm.20230905.13
T2  - European Business & Management
JF  - European Business & Management
JO  - European Business & Management
SP  - 101
EP  - 111
PB  - Science Publishing Group
SN  - 2575-5811
UR  - https://doi.org/10.11648/j.ebm.20230905.13
AB  - The increasing demand for virtual banking transactions in the world amidst the global COVID-19 pandemic has necessitated the need for banks to understand factors that influence the adoption of digital wallets. This study therefore focused on the assessment of the factors that influence the adoption of digital wallet in Ghana. The study employed a survey design and data were gathered from 200 individual customers of the top performing banks in terms of digital wallets. Convenient sampling method was used for the selection of the respondents who were willing and ready to participate. Partial least squares structural equation modeling (PLS–SEM) was employed for the analysis of the data. The study revealed that innovation characteristics, individual customer characteristics, organizational characteristics and external factors had significant effect on adoption. All the independent variables except individual customer characteristics had a positive effect on adoption. It is therefore recommended that management pays much commitment on understanding their innovation characteristics, organizational characteristics and external factors than the understanding of individual customer characteristics. The researchers obtained data from individual customers of the top performing banks in the area of digital wallet. The cross-sectional survey made it impossible to ascertain the possible changes in respondent’s perceptions on factors that influence their adoption.
VL  - 9
IS  - 5
ER  -

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Author Information

Ofosu Amofah

Marketing Department, Ho Technical University, Ho, Ghana
Otopah Akuffo Alex

Marketing Department, Ho Technical University, Ho, Ghana
Collins Kankam Kwarteng

Marketing Department, Kumasi Technical University, Kumasi, Ghana
Ahlijah Bright

Marketing Department, Ho Technical University, Ho, Ghana
Simon Kwodjo Mesa Avorgah

Marketing Department, Ho Technical University, Ho, Ghana

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Ofosu Amofah, Otopah Akuffo Alex, Collins Kankam Kwarteng, Ahlijah Bright, Simon Kwodjo Mesa Avorgah. (2023). Factors Influencing the Adoption of Digital Wallet: Evidence from Ghana. European Business & Management, 9(5), 101-111. https://doi.org/10.11648/j.ebm.20230905.13

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ACS Style

Ofosu Amofah; Otopah Akuffo Alex; Collins Kankam Kwarteng; Ahlijah Bright; Simon Kwodjo Mesa Avorgah. Factors Influencing the Adoption of Digital Wallet: Evidence from Ghana. Eur. Bus. Manag. 2023, 9(5), 101-111. doi: 10.11648/j.ebm.20230905.13

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AMA Style

Ofosu Amofah, Otopah Akuffo Alex, Collins Kankam Kwarteng, Ahlijah Bright, Simon Kwodjo Mesa Avorgah. Factors Influencing the Adoption of Digital Wallet: Evidence from Ghana. Eur Bus Manag. 2023;9(5):101-111. doi: 10.11648/j.ebm.20230905.13

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@article{10.11648/j.ebm.20230905.13,
  author = {Ofosu Amofah and Otopah Akuffo Alex and Collins Kankam Kwarteng and Ahlijah Bright and Simon Kwodjo Mesa Avorgah},
  title = {Factors Influencing the Adoption of Digital Wallet: Evidence from Ghana},
  journal = {European Business & Management},
  volume = {9},
  number = {5},
  pages = {101-111},
  doi = {10.11648/j.ebm.20230905.13},
  url = {https://doi.org/10.11648/j.ebm.20230905.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ebm.20230905.13},
  abstract = {The increasing demand for virtual banking transactions in the world amidst the global COVID-19 pandemic has necessitated the need for banks to understand factors that influence the adoption of digital wallets. This study therefore focused on the assessment of the factors that influence the adoption of digital wallet in Ghana. The study employed a survey design and data were gathered from 200 individual customers of the top performing banks in terms of digital wallets. Convenient sampling method was used for the selection of the respondents who were willing and ready to participate. Partial least squares structural equation modeling (PLS–SEM) was employed for the analysis of the data. The study revealed that innovation characteristics, individual customer characteristics, organizational characteristics and external factors had significant effect on adoption. All the independent variables except individual customer characteristics had a positive effect on adoption. It is therefore recommended that management pays much commitment on understanding their innovation characteristics, organizational characteristics and external factors than the understanding of individual customer characteristics. The researchers obtained data from individual customers of the top performing banks in the area of digital wallet. The cross-sectional survey made it impossible to ascertain the possible changes in respondent’s perceptions on factors that influence their adoption.},
 year = {2023}
}

Copy | Download

TY  - JOUR
T1  - Factors Influencing the Adoption of Digital Wallet: Evidence from Ghana
AU  - Ofosu Amofah
AU  - Otopah Akuffo Alex
AU  - Collins Kankam Kwarteng
AU  - Ahlijah Bright
AU  - Simon Kwodjo Mesa Avorgah
Y1  - 2023/09/27
PY  - 2023
N1  - https://doi.org/10.11648/j.ebm.20230905.13
DO  - 10.11648/j.ebm.20230905.13
T2  - European Business & Management
JF  - European Business & Management
JO  - European Business & Management
SP  - 101
EP  - 111
PB  - Science Publishing Group
SN  - 2575-5811
UR  - https://doi.org/10.11648/j.ebm.20230905.13
AB  - The increasing demand for virtual banking transactions in the world amidst the global COVID-19 pandemic has necessitated the need for banks to understand factors that influence the adoption of digital wallets. This study therefore focused on the assessment of the factors that influence the adoption of digital wallet in Ghana. The study employed a survey design and data were gathered from 200 individual customers of the top performing banks in terms of digital wallets. Convenient sampling method was used for the selection of the respondents who were willing and ready to participate. Partial least squares structural equation modeling (PLS–SEM) was employed for the analysis of the data. The study revealed that innovation characteristics, individual customer characteristics, organizational characteristics and external factors had significant effect on adoption. All the independent variables except individual customer characteristics had a positive effect on adoption. It is therefore recommended that management pays much commitment on understanding their innovation characteristics, organizational characteristics and external factors than the understanding of individual customer characteristics. The researchers obtained data from individual customers of the top performing banks in the area of digital wallet. The cross-sectional survey made it impossible to ascertain the possible changes in respondent’s perceptions on factors that influence their adoption.
VL  - 9
IS  - 5
ER  -

Copy | Download