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Factors Influencing the Adoption of Digital Wallet: Evidence from Ghana

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.

Adoption, Digital Innovation, Digital Wallet, Pls-Sem

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.

Copyright © 2023 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License ( which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

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