Extended Technology Acceptance Model to Predict Mobile-Based Money Acceptance and Sustainability: A Multi-Analytical Structural Equation Modeling and Neural Network Approach

Abstract

This research is a pioneering study into the adoption of mobile-based money services for financial inclusion and sustainability in developing countries like Togo. Owing to their differences from more usual mobile-based banking and payment services, such technology is being aggressively promoted by providers of network telecommunication companies. However, the factors influencing its sustainable acceptance remain largely unknown. This paper extends the original Technology Acceptance Model (TAM), by integrating self-efficacy (SEMM), technology anxiety (TAMM), and personal innovativeness (PIMM). The research model is assessed with survey data of 539 actual and prospective mobile money users employing structural equation modeling–artificial neural networks (SEM–ANN) approach. A feed-forward-back-propagation (FFBP) multi-layer perceptron (MLP) ANN with significant predictors obtained from SEM as the input units and the root mean square of errors (RMSE) indicated that the ANN method achieves high prediction accuracy. The results present conclusive evidence that perceived ease-of-use (PEMM) is the most significant factor affecting consumers’ attitudes to mobile-based money. While perceived usefulness (PUMM) and PIMM affect adoption decisions, their impact is much lower. Consumer attitudes and intentions were found to have a significant relationship with TAM. SEMM and TAMM; however, they showed mixed results. These findings will be useful to retain prevailing users and attract new ones.

Different Household Livelihood Strategies and Influencing Factors in the Inner Mongolian Grassland

“…While the model fit of PLS-SEM usually is not emphasized, the global goodness of fit index (GOF) is often used to verify whether the model adequately explains the empirical data. The GOF values range from 0 to 1, where 0.10 is considered small, 0.25 is medium, and 0.36 is large (satisfying the global validation) [51]. The GOF value of our study is 0.31, which is considered sufficiently large.…”

“…The advantages of choosing PLS-SEM instead of CB-SEM in this study are as follows. Firstly, PLS-SEM does not require normally distributed data [51]. Secondly, the amount of sample data is more flexible [52].…”

Evaluation and Classification of Mobile Financial Services Sustainability Using Structural Equation Modeling and Multiple Criteria Decision-Making Methods

“…Numerous studies have employed these traditional frameworks to perform their researches, and the rest integrated either previous models or added new variables to construct models to carry out their study. They examine whether the models' theoretical constructs are likely to affect the consumer acceptance of an MFS [15,[61][62][63] or assess whether consumers are ready to adopt m-payments grounded in the supposed factors [64].…”

“…Payment today has now progressed to mobile devices (m-devices) identified as mobile financial services, particularly mobile payments [14]. Mobile money has appeared as a significant innovation with a potential expansion to financial inclusion in developing countries in various ways [15]. It is, therefore, growing access to financial services for a large number of people, who are entirely disregarded by banks because of longer travel distances or insufficient funds to fulfill the minimum deposit recommended for opening account in a bank [16,17], low-income population in developing countries [18], insofar, as it has several advantages [15,19,20].…”

“…In order to advance current IS researches, Esearch and Koppius [46] stressed that there is a necessity to integrate decision modeling methods in IS research to generate data estimates as well as methods for assessing the analytical power of the result. Therefore, applying a combined analytic method stressed how integrating two or multiple data analysis techniques in either methodology or investigation can patronize the confidence and validity in the resulting outcome [15,47]. Additionally, most managers make strategic decisions based on a single goal or dimension, but strategic planning is impacted by many different factors and regarded from several perspectives [48].…”