Unraveling the dynamics of mobile wallets in promoting cashless tourism in Bangladesh: implementation of UTAUT2 model

Purpose This study aims to fill the research gap in the literature by focusing on the factors influencing the adoption of mobile wallets (m-wallets) for cashless transactions in the tourism sector. The tourism industry is striving to transition toward a more stable economy by promoting the adoption of m-wallets and establishing guidelines for the optimal use of digital payment systems. Design/methodology/approach A modified version of the unified theory of acceptance and use of technology 2 model has been used for this study. Convenience sampling was adopted to collect 647 responses through online surveys via e-mail and social media platforms. Among these, 489 responses were deemed suitable for analysis. The analysis used Smart PLS 3.2.9 and SPSS 27 to create a structural equation model. Findings The results demonstrate that the tourists’ behavioral intention to adopt m-wallets is highly influenced by performance expectancy and effort expectancy. The research findings contribute to the literature on mobile payments, cashless tourism and technology adoption in the tourism industry. Originality/value The study’s findings improve tourism sustainability, tourist satisfaction and cashless sustainable tourism approaches. In addition, they provide recommendations for cashless tourism promotion strategies to key stakeholders, including policymakers, m-wallet providers and tourism businesses.