Asian Journal of Economics, Business and Accounting

The level of acceptance of innovation reflects in the behaviour ones showcases. The study of customer’s behaviour specifically aims to understand the decision-making processes of customers and the factors that influence their behaviour in the marketplace. This study therefore investigated the impact of mobile payment services on customer behaviors in Nigeria’s South-South geopolitical zone, focusing on civil servants and pensioners. Utilizing a descriptive survey design, data were collected from 800 households across Bayelsa, Akwa Ibom, Delta, and Ondo using a structured questionnaire informed by the Technology Acceptance Model (TAM) and Unified Theory of Acceptance and Use of Technology (UTAUT). The analysis, employing Structural Equation Modeling (SEM) and regression, reveals that civil servants exhibit higher adoption rates (65%) than pensioners (40%), driven by greater perceived usefulness, ease of use, and trust. Key barriers, particularly for pensioners, include low digital literacy, network unreliability, and security concerns, exacerbated by the 2023 fuel subsidy removal. Socioeconomic factors like income and urban residence positively influence adoption, while infrastructure deficits hinder it. The study underscores the need for targeted digital literacy programs, improved network infrastructure, and enhanced security to boost financial inclusion in the region.