Predicting Intention and Actual Use of Mobile Money Using the Technology Acceptance Model: The Case of University of Botswana Students

Abstract

Mobile money has been found to unleash benefits to low-income unbanked people in developing countries. The benefits of such technologies can be harnessed only if people use them. As a result, several theories have been put forward to help predict and explain mobile money intention to use and actual use. This study investigates the extent to which an expanded version the basic Technology Acceptance Model (TAM) predicts and explains intention and actual use of mobile money. Data was obtained from 203 students at the University of Botswana. The findings produced several contributions to our understanding of the determinants of intention and actual use of mobile money. First, the basic TAM model constructs (Ease-of-Use and Usefulness) were significant in predicting intention to use mobile money services. Second, the use of two additional constructs that are specific to mobile money transfer produced mixed results: while Perceived Trust, was positively and significantly associated with intention; however, Perceived Risk was not significant. Third of the four modified technology acceptance factors used trust was the most powerful in explaining intention. Fourth, the findings lend credence to the belief of the existence of a strong direct relationship between intention to behave and actual behaviour. Finally, the findings imply that studies that use intention as a proxy for actual behaviour and forego the more difficult measurement of actual behaviour may not necessarily introduce a serious shortcoming in the validity of those studies.