Examining Filipino student’s adoption factors on switching from cash to mobile wallet payment : an UTAUT theory approach

Abstract

The accelerated shift toward digital finance in Southeast Asia has placed mobile wallets at the forefront of financial innovation. In Philippines, however, mobile payment adoption remains inconsistent due to infrastructure, socio-economic, and behavioral factors. This study investigates the determinants influencing Filipino student’s adoption of mobile wallet payments, using the Unified Theory of Acceptance and Use of Technology (UTAUT) as the primary framework. The research employed a quantitative design using a structure survey distributed to 171 Filipino student, with a majority residing in region 12 (SOCCSKSARGEN). Data was analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) to test the relationships among six main constructs: Performance Expectancy, Effort Expectancy, Social Influence, Facilitating Conditions, Intention to Use, and Use Behavior. Findings revealed that Performance Expectancy and Effort Expectancy significantly influenced students’ intention to use mobile wallets. Notably, Social Influence also showed a statistically significant effect, suggesting that continued relevance of peer and social norms in technology adoption among youth. Facilitating Conditions strongly predicted actual Use Behavior, indicating that access to digital infrastructure, device compatibility, and app usability are critical enablers of sustained adoption. The study also found that financial autonomy through allowance, scholarships, or part-time work moderated usage behavior. Most students had been using wallets for 6 to 12 months, and the majority preferred GCash, underscoring brand dominance and platforms loyalty. Practically, the results support the need for stake holders’ specific intervention such as region sensitive infrastructure planning, digital literacy initiatives, and platforms designs tailored to student needs. Policy makers, educators, fintech developers, and digital inclusion advocates can benefit from this study’s insights. Ultimately, this research contributes to the evolving discourse on digital finance by offering a nuanced view of mobile adoption among a digital savvy yet economically diverse youth population in the Philippines.