Customer pre-adoption choice behavior for M-PESA mobile financial services : Extending the theory of consumption values

Purpose The purpose of this paper is to extend the theory of consumption values by investigating the influence of aesthetic, conditional, convenience, monetary, epistemic, self-gratification, and social value on customer pre-adoption choice behavior to use mobile financial services. Design/methodology/approach Data were collected using an online survey questionnaire resulting in 524 total responses from registered users of M-PESA mobile financial services in Kenya, ultimately resulting in a usable sample of 384 responses. Partial least squares was used to evaluate the research model and associated hypotheses. Findings Aesthetic, conditional, convenience, monetary, epistemic, and self-gratification value are positive determinants of customer pre-adoption choice behavior to use M-PESA mobile financial services, but not social value. Research limitations/implications Survey participants were limited to customers of M-PESA mobile financial services in Kenya. The study findings present important implications for managers and academic researchers in the mobile financial services market. Originality/value This is one of the first empirical studies to investigate customer pre-adoption choice behavior to use M-PESA mobile financial services from the perspective of customer perceived value.