Consumer Adoption of Mobile Financial Services (MFS) in Bangladesh: A Randomized Conjoint Experiment

Mobile Financial Services (MFS) has become the new frontier in many countries. Since 2013, MFS in Bangladesh has risen steeply. The study aims to examine the MFS adoption behavior through the lens of modified Technology Acceptance Model (TAM) utilizing Randomized Conjoint Experiment for establishing a causal relationship between the attributes and adoption behavior. This study is the first attempt to encompass the causal relationship while investigating adoption behavior. Data were collected through a structured survey questionnaire at two districts in Bangladesh, including 2400 responses from 240 respondents. It was found that distance and cost per transaction has a significant impact, while ease of use has a moderately significant influence on customer's adoption behavior. However, the findings also concluded that social influence and trust have no significant influence. To both regulators and service providers, the findings will provide insights into the customer's point of view and industry demand as well. The study also included some suggestions for future investigations