Evaluating the Implications of the Technology Acceptance Model in the M-Payment Service Industry of Bangladesh

Abstract

The growth of M-Payment services is enormous, creating the need to understand the acceptance of such technology to enhance consumer loyalty. The exponential rise of M-Payment services necessitates an awareness of the adoption of such technology to improve consumer loyalty. The purpose of this work is to evaluate the acceptance of M-Payment services in the context of Bangladesh. The study looked into M-Payment service adoption in Bangladesh via the lens of the Technology Acceptance Model (TAM). To test the proposed hypotheses, the study used PLS-SEM (Partial Least Squares Structural Equation Modeling). Data were collected by using Google form from 386 respondents currently residing in Bangladesh. The researchers were interested in collecting responses from those who had previously used or are currently using M-Payment services. The data collected was determined to be reliable and valid. Based on that, the PLS-SEM was conducted. The study proposed that Subjective Norms (SN) have a positive impact on perceived usefulness (PU) and perceived ease of use (PEOU). Similarly, Perceived Trust has a positive impact on perceived usefulness (PU) and perceived ease of use (PEOU). The PEOU has a positive influence on perceived usefulness (PU), Attitude (AT), and Behavioral Intention (BI). Also, PU has a positive relationship with AT and Behavioral Intention (BI). Attitude (AT) has a positive impact on Behavioral Intention (BI). All these theoretically proposed research hypotheses were found to be supported. The future research may focus on investigating the acceptance of M-Payment services in Bangladesh by integrating other competing theoretical frameworks to explain the adoption of such services.