Beyond convenience and security: a trust-integrated framework for digital wallet adoption

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Abstract
In this study, a new conceptual model of digital wallet adoption is introduced and examined. The model is extended with additional dimensions, namely, “financial empowerment, gamification, social visibility, status signalling, eco-friendliness and digital trust” developed in consumer behaviour. These constructs have been examined, and the mediating effects of consumer well-being and digital trust are tested. The conceptual design of the model is based on the logic of trust theory, privacy calculus, and consumer empowerment. Across all aspects, financial empowerment and gamification stimulate customers’ well-being, while the balance of social visibility, status signalling, is accountable for digital trust. Environmental consciousness was expected to influence adoption intention. This study proposes to test the model empirically using structural equation modelling on a sample of survey responses collected from active digital wallet users. Financial empowerment and gamification first affect financial well-being or consumer well-being, which positively leads to adoption intention. The other group, including social visibility, status signalling, and digital trust, is expected to moderate digital trust as a mediator of adoption. Environmental awareness is anticipated to increase digital wallet usage and is a supportive sign of sustainability in the fintech field. It offers practical implications for fintech adopters as the inventiveness driver to adoption, especially via positive extreme gamification design, advertisement of obvious advantages of status, and incorporation of eco-labelling mechanisms into their offerings. Enhancing trust in digital wallets through transparent information via transparent information and features that can be adjusted will support their long-lasting usage. This study contributes to the literature by incorporating previously underexplored factors, such as environmental consciousness, gamification, and social visibility, into the digital wallet adoption role. By integrating consumer well-being and digital trust mediations, this study contributes to the theoretical and practical evolution of digital wallet users.

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