Mohamed Soliman, Jeganathan Gomathi Sankar, Dina Darwish, Ahmed Nousir, Reham Adel Ali
This research investigates the implementation of digital payments in Egypt and India, two developing economies, utilizing the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) paradigm. Utilizing performance expectancy (PE), effort expectancy (EE), social influence (SI), facilitating conditions (FC), and perceived risk (PR), we examine their effects on behavioral intention (BI) through structural equation modeling based on survey data from 130 Egyptian and 307 Indian students. Findings indicate that FC and EE serve as universal motivators in both contexts, although PE has a more pronounced impact in Egypt, which is at an early-adoption phase. SI substantially influences Indian users, mirroring cultural standards, although it does not impact Egyptians. Public relations have an adverse impact on adoption in Egypt, although it has a negligible impact in India, suggesting a lack of trust. The findings highlight the importance of addressing contextual elements in digital maturity and policy, offering valuable insights for regulators and fintech companies to enhance infrastructure, usability, and risk mitigation for financial inclusion in emerging nations. Copyright: ©2026 The authors. This article is published by IIETA and is licensed under the CC BY 4.0 license (http://creativecommons.org/licenses/by/4.0/).
Business Innovation Department, Prince of Songkla University (PSU), Pattani, 94000, Thailand; College of Entrepreneurship and Innovation, Midocean University, Moroni, 98123, Comoros; School of Business Management, Universiti Utara Malaysia, Sintok, 06010, Malaysia; Faculty of Education, Universitas Negeri Malang, Malang, 65145, Indonesia; BSSS Institute of Advanced Studies, Bhopal, 462016, India; Ahram Canadian University, 6th of October City, 12451, Egypt
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