THE ROLE OF EFFECTIVE FACTORS IN UTAUT MODEL ON BEHAVIORAL INTENTION

Abstract

Digital transactions are growing globally. India has embarked on this journey but still lags behind, in comparison to other countries. The paper attempts to find factors which affect behavioral intention among small merchants for adopting technology. Small merchants in unorganized sector are an important part of Indian business framework. The paper is a deductive research wherein it makes UTAUT model its base and adapts to the Indian context. The paper tests models and hypotheses with the help of Structural Equation Modelling (SEM). Few variables like performance expectancy, effort expectancy and habit were found to have an effect on intention to adopt cashless method; surprisingly factors profound to Indian consumers such as trust, perceived value and social influence were not found to have an effect on behavioral intension. The study is useful for the digital payment service providers, telecom companies, small merchants, Government and society. It also proposes strategic initiatives to boost digital transactions. It is unique as the survey is in the unorganized sector.

Keywords

• digital methods
• payments
• india
• cashless economy
• digitalization