Determinants of digital wallet adoption and super app: A review and research model

Abstract

As many companies are transforming through digitalisation to increase efficiency and effectiveness of business processes, financial technology firms innovated the digital wallet as an omnichannel payment to facilitate the digital payments. This review aims to explore the conceptual structure of the digital wallet knowledge base in business and management literature and the determinants that influence the consumer adoption decision of a digital wallet. A bibliometric approach is used to analyse 156 Scopus-indexed documents in this study field. Author co-citation reveals four key schools of thought: digital marketing and consumer behaviour, management and business analytics, mobile commerce and technology, and information and communication technology. The temporal overlay keyword cooccurrence map shows the topical focus changes of research from mobile payment technology, business uses, and determinants of digital wallet adoption. The top cited empirical documents also show that perceived usefulness, perceived ease of use, trust or perceived ability, perceived risk, and perceived value are consumers’ key considerations in choosing digital wallets for payments. This review seeks to contribute to both scientific knowledge and the model of research practice that could provide insights into digital wallet payment. The comprehensive research framework proposes the facilitators and inhibitors which employ the status quo bias theory and presents the mediating effects of the unified theory of acceptance and use of technology constructs on behavioural intention to use a digital wallet, positive word of mouth, and user satisfaction. Four additional determinants augment the existing theories, including perceived trust, perceived security and privacy, promotion, and super app for novelty.