The Rise of Digital Wallets: Adoption Patterns and ‎Consumer Trust in Fintech Platforms

  • Authors

    • Jivanjot Singh Research Scholar, University of Business School, Guru Nanak Dev University, Amritsar, ‎Punjab
    • Dr. Vijaykumar. V. Assistant Professor, PG Department of Commerce, Nehru Arts and Science College, ‎Kanhangad
    • Amandeep Singh Arora American Express Independent Researcher, Senior Software Engineer I
    • Thulasiram Yachamaneni Degree (Ph.D., M.D., etc.) Master's of Computer Science, Tata Consultancy Services ‎, Independent Researcher, Senior Software Engineer
    • Uttam ‎ Kotadiya Degree (Ph.D., M.D., etc.) Master's of Computer Science, Tata Consultancy Services ‎, Independent Researcher, Senior Software Engineer
    • Dr. Chintamani Pandu HoD, Commerce, Anjaneya University, Raipur, Chhattisgarh
    • Dr. Priyanka Bhatt Associate Professor, Gujarat Technological University (GTU), India
    https://doi.org/10.14419/xr538s42

    Received date: July 23, 2025

    Accepted date: September 2, 2025

    Published date: December 9, 2025

  • Digital Wallets; FinTech Adoption; Consumer Trust; Mobile Payments; Technology ‎Acceptance Model

  • Abstract

    Digital wallets have caused turmoil in the financial world by providing a convenient means of ‎paying instead of conventional payment intermediaries. The long-term penetration, however, ‎depends also significantly on the opinions of the users regarding the aspects of trust, security, ‎and usability of it. This paper reviews behavioral and technological drivers of digital wallet ‎adoption with particular attention to how consumer trust drives adoption intention. It was based ‎on a quantitative, cross-sectional design with survey data provided by 389 participants in India, ‎Indonesia, and Malaysia. To test the research hypotheses, several constructs, including Trust, ‎Security, Ease of Use, and Adoption Intention, were measured in a validated scale using SPSS ‎v22 by applying descriptive statistics, Pearson correlation, and multiple linear regression. The ‎results show that the three predictors showed profound effects on Adoption Intention (p < ‎‎0.001), and Ease of Use showed the largest effect (β = 0.39), followed by Trust (β = 0.34), then ‎Security (β = 0.28). The constructs had strong positive correlations (r > 0.65), and the ‎Cronbach alpha values (> 0.85) indicated reliability. The results indicate that technological ‎infrastructure is not enough; psychological variables, especially usability and trust, are the ‎determinants in the long-term adoption. The implication is the need to focus on user-centered ‎design, open security communication, and regulatory assistance. The future studies should be ‎devoted to longitudinal attitude, demographic moderators, and the role of emerging ‎technologies in digital wallet types of ecosystems.

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  • How to Cite

    Singh , J. ., V. , D. V., Arora , A. S. ., Yachamaneni , T. ., Kotadiya , U. ‎, Pandu , D. C. ., & Bhatt, D. P. . (2025). The Rise of Digital Wallets: Adoption Patterns and ‎Consumer Trust in Fintech Platforms. International Journal of Accounting and Economics Studies, 12(8), 297-304. https://doi.org/10.14419/xr538s42