Consumer Attitude Towards Mobile Wallets and Digital Payment Security

Abstract

This study empirically examines the determinants of consumer attitude towards mobile wallets and digital payment security in India, and its influence on the intention to use UPI, mobile wallet, and Buy Now Pay Later (BNPL) platforms. Grounded in an integrated theoretical framework combining the Technology Acceptance Model (TAM), Theory of Planned Behaviour (TPB), and Protection Motivation Theory (PMT), the research proposes and tests seven hypotheses using primary survey data from 142 active digital payment users in India. A structured questionnaire capturing five antecedent constructs—perceived usefulness, perceived security, trust in technology, social influence, and digital literacy—was administered using a stratified approach. Data were analysed using reliability analysis (Cronbach's Alpha), Pearson correlation, multiple and simple linear regression, and one-way ANOVA using SPSS 26.0. Findings reveal that trust in technology (β = 0.357) and digital literacy (β = 0.325) are the strongest predictors of consumer attitude, while consumer attitude itself is the most powerful predictor of intention to use (β = 0.826, R² = 0.389). Six of seven hypotheses are supported. The study contributes the first cross-platform empirical model integrating PMT's threat-coping appraisal framework with TAM and TPB in the Indian fintech context, offering significant managerial implications for payment service providers and policymakers.