Effects of behavioural intention on usage behaviour of digital wallet: the mediating role of perceived risk and moderating role of perceived service quality and perceived trust

In today's digital economy, digital wallets are becoming increasingly significant. Various factors influence digital wallet's usage behaviour, e.g. consumer attitudes and views of digital wallets, the perceived benefits and hazards of using digital wallets, and the ease of use and reliability of digital wallet services. This study empirically examines the usage behaviour of digital wallets, with a particular focus on the role of perceived risk as a mediator and role of perceived trust and perceived service quality as moderators. This quantitative and primary data-based study used survey approach to collect data using structured questionnaires from 450 digital wallet users, and data were analyzed using PLS-SEM (Smart PLS 4.0). The findings show that behavioural intention positively and significantly impacts digital wallet usage behaviour, and perceived risk mediates the proposed relationship, while perceived trust and service quality showed strong moderating effects on the relationship between perceived risk and digital wallet usage behaviour. The study adds to the literature on digital wallet adoption and usage by emphasizing the complex relationship between behavioural intention, perceived risk, perceived trust, and perceived service quality. The findings can help digital wallet service providers to build successful strategies to increase its' acceptance and usage.