Economic and Urban Dynamics: Investigating Socioeconomic Status and Urban Density as Moderators of Mobile Wallet Adoption in Smart Cities

This research paper examines the complex correlation between socioeconomic factors, urban density, and the acceptance of mobile wallet technology in smart cities. The study investigates how socioeconomic status and urban density influence the adoption of mobile wallets. Smart cities have experienced a significant increase in the adoption of mobile payment solutions such as Apple Pay and Google Pay, noted for their technological innovation and ability to enhance living standards. These digital payment platforms provide ease, security, and efficiency, revolutionising how individuals engage in financial transactions and navigate urban environments. The study examines the many aspects that impact this phenomenon, focusing on the significance of comprehending how socioeconomic status and urban density influence the acceptance of mobile wallets. The study utilises a meticulous research technique, which involves evaluating the reliability and validity of constructs, analysing heterotrait-monotrait (HTMT) ratios, conducting tests for discriminant validity, and doing variance inflation factor (VIF) analysis. These measures are taken to ensure the strength and reliability of the report’s conclusions. The research’s importance is further supported by model fit statistics and hypothesis testing conducted through bootstrapping. The results emphasise that the inclusion of mobile wallet functions, the legal framework, and the development of smart city infrastructure have a substantial influence on the acceptance of mobile wallets. However, the impact of urban density on mobile wallet adoption is more intricate and multifaceted. This study provides significant insights into the dynamic field of technology uptake in urban regions, with implications for politicians, entrepreneurs, and urban planners seeking to promote financial inclusion and technological integration in smart cities.