Consumers’ acceptance and use of plastic money in Harare, Zimbabwe

Consumers’ acceptance and use of plastic money in Harare, Zimbabwe PurposeThe purpose of this paper is to apply unified theory of acceptance and use of technology 2 to determine factors influencing acceptance and use of plastic money in Zimbabwe.Design/methodology/approachUsing a cross-section of 528 consumers, respondents were randomly intercepted as they walked out of five major supermarkets in Harare, Zimbabwe. Random selection of consumers was done in order to ensure a representative sample. Consumers were asked to complete a structured questionnaire. Structural equation modelling was applied to test research hypotheses.FindingsResults show that performance expectancy, effort expectancy, hedonic motivation and habit all positively influenced behavioural intention to adopt plastic money. Social influence, facilitating conditions and perceived financial cost all did not have a significant effect on behavioural intention to adopt plastic money. Behavioural intention positively influenced consumers’ use behaviour on plastic money.Research limitations/implicationsThis study is among the pioneers of research in this field in Zimbabwe and other developing countries. Likewise, caution must be taken when researchers try to generalise findings from this study. It is, therefore, recommended that more studies of this nature be conducted in other developing countries in order to have a more solid understanding of consumers’ adoption of plastic money.Practical implicationsThe study advises banks to pay particular attention to performance expectancy, effort expectancy, hedonic motivation and habit when devising strategies to increase the adoption of plastic money.Originality/valueFactors that influence the adoption of plastic money are not widely researched under circumstances such as those existing in Zimbabwe. The Zimbabwean financial sector provides a unique environment to conduct studies of this nature. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Bank Marketing Emerald Publishing

Consumers’ acceptance and use of plastic money in Harare, Zimbabwe

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0265-2323
D.O.I.
10.1108/IJBM-03-2017-0044
Publisher site
See Article on Publisher Site

Abstract

PurposeThe purpose of this paper is to apply unified theory of acceptance and use of technology 2 to determine factors influencing acceptance and use of plastic money in Zimbabwe.Design/methodology/approachUsing a cross-section of 528 consumers, respondents were randomly intercepted as they walked out of five major supermarkets in Harare, Zimbabwe. Random selection of consumers was done in order to ensure a representative sample. Consumers were asked to complete a structured questionnaire. Structural equation modelling was applied to test research hypotheses.FindingsResults show that performance expectancy, effort expectancy, hedonic motivation and habit all positively influenced behavioural intention to adopt plastic money. Social influence, facilitating conditions and perceived financial cost all did not have a significant effect on behavioural intention to adopt plastic money. Behavioural intention positively influenced consumers’ use behaviour on plastic money.Research limitations/implicationsThis study is among the pioneers of research in this field in Zimbabwe and other developing countries. Likewise, caution must be taken when researchers try to generalise findings from this study. It is, therefore, recommended that more studies of this nature be conducted in other developing countries in order to have a more solid understanding of consumers’ adoption of plastic money.Practical implicationsThe study advises banks to pay particular attention to performance expectancy, effort expectancy, hedonic motivation and habit when devising strategies to increase the adoption of plastic money.Originality/valueFactors that influence the adoption of plastic money are not widely researched under circumstances such as those existing in Zimbabwe. The Zimbabwean financial sector provides a unique environment to conduct studies of this nature.

Journal

International Journal of Bank MarketingEmerald Publishing

Published: Apr 3, 2018

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