Modeling the key factors influencing the adoption of mobile financial services: an interpretive structural modeling approach

Mobile financial services are widely appreciated worldwide, but a considerable fragment of the population is resisting the technology. Therefore, the purpose of this paper is to identify and analyze the contextual relationships among a set of measures that influence the adoption of mobile financial services (MFSs). The paper employed the interpretive structural modeling technique to formulate a multilevel structural model with experts' knowledge and experience. Using MICMAC analysis, the factors were classified into four clusters: autonomous, linkage, dependent, and driving based on their dependence and driving power. The outcome shows that facilitating conditions is the most crucial factor in influencing the MFS adoption and demands special attention by authorities for better implementation of the technology. The findings will help the bank managers and telecom companies to direct their resources in significant areas.