Driving financial inclusion: exploring mobile wallet adoption among rural Omani millennials

Purpose This study aims to investigate the adoption of mobile wallet payment services among rural Omani millennials, with a focus on social factors, perceived security, trust considerations and the moderating role of technology self-efficacy in shaping attitudes and intentions towards adoption. It also explores the role of mobile wallets in advancing financial inclusion, aligned with Sustainable Development Goal 10 (Reduced inequalities). Design/methodology/approach A survey method was used with 544 randomly selected participants from rural Oman. The study used partial least squares structural equation modelling (PLS-SEM) to analyse relationships among the constructs, including subjective norms, perceived security, trust and self-efficacy. Findings The results support five hypotheses, confirming the influence of subjective norms, perceived security and technology self-efficacy on attitudes and intentions to adopt mobile wallets. Additionally, mobile wallet self-efficacy emerges as a significant moderator, enhancing the relationship between positive attitudes and behavioural intentions. Research limitations/implications The study extends the technology acceptance model (TAM) by incorporating moderating variables such as technology self-efficacy and perceived security, offering theoretical contributions to digital payment adoption literature, especially in rural settings. Practical implications The findings underscore the need for trust-building efforts by service providers and collaborative strategies involving government incentives and promotions to foster mobile wallet adoption. Strengthening digital literacy and addressing security concerns are critical for promoting financial inclusion in rural communities. Originality/value This research contributes to promoting economic empowerment through mobile wallet adoption in rural Oman, offering valuable insights for policymakers and service providers aiming to reduce socio-economic disparities. By addressing the digital divide and supporting financial inclusion, the study supports the advancement of SDG 10 (Reduced inequalities) and fosters inclusive growth in underserved communities.