A Model of Factors Affecting Consumers Intention to Use E-Payment Services: Evidences from Addis Ababa

Abstract

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The study examined factors that determine the intention of consumers towards using electronic payment services, by developing, adapting and testing a model. The study utilized the extended Unified Theory of Acceptance and Use of Technology (UTAUT2) with a rational substitution of Habit by Image of Social Status. The study used data from 385 respondents. Regression analysis was run for checking the relationship between the variables and testing the hypotheses. The results revealed that performance expectancy, facilitating conditions, price value, and image significantly and positively influenced the behavioral intention of using e-payment services and all the predictor variables had positive associations with the predicted. The findings are crucial for the relevant stakeholders including the financial institutions such as banks, e-payment service providers, and the concerned regulatory bodies to investigate the critical areas on intervention to the enhanced usability and expansion of cashless transaction platforms.

Keywords: Behavioral intention, Effort expectancy, E-payment, Facilitating conditions, Hedonic motivation, Performance expectancy, Price value, Social influence.

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