Various review studies were performed earlier to
apprehend the applicability of the technology acceptance model (TAM) in the
mobile financial services (MFS) context by assessing several issues. Despite
each of those studies offering a valuable synthesis of TAM, further issues are
still uncovered and call for further research. Therefore, this paper
contributes to the existing literature by comprehensively reviewing TAM-based
MFS studies through the analysis of various concerns, entailing the drivers of
novelty technology of MFS adoption, analysis methods, TAM progress over
publication years, participated countries, and sample size. From a yield of 217
studies collected, 24 empirical studies published between 2011 and 2021 have
met the eligibility criteria and were extensively analyzed. The main results
revealed that compatibility and perceived security were TAM’s most common
external factors influencing the adoption of mobile financial services,
followed by subjective norm and trust. While it was developed in 1989, the
results unveiled an increasing number of TAM-based MFS studies, yet, expanding
the model’s credibility in elucidating the users’ intentions regarding
technology adoption. Most analyzed studies have relied on questionnaires to collect
empirical data. It was also found that the USA is leading the research on
technology acceptance in MFS. This review will enhance practitioners’
understanding through several contributions and implications by presenting the
full potential of technology acceptance in MFS that could yield future
attempts.
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