The Influence of Mobile Money and FinTech Apps on Consumer Spending Habits in Nigeria

As digital financial services rapidly expand across emerging markets, understanding the determinants of mobile money usage is critical for deepening economic inclusion. Grounded in the Technology Acceptance Model (TAM), this study investigates the impact of Perceived Convenience, Perceived Security, and Perceived Usefulness on the Consumer Spending Habits of FinTech users. A positivist, cross-sectional research design was employed, using purposive sampling to survey 294 semi-literate female traders across three major open-air markets in Obio Akpor Local Government Area, Rivers State, Nigeria. Data were validated and analysed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The findings reveal that Perceived Convenience is the strongest positive driver of consumer spending habits, followed by a moderate positive influence from Perceived Usefulness. Notably, while Perceived Security established robust internal reliability, it exerted the weakest direct effect on transaction volume, suggesting that it functions as a baseline expectation rather than an active catalyst for usage. The study concludes that while secure infrastructure is necessary to establish initial trust, frictionless user experiences and tangible daily utility are the primary engines of sustained digital financial engagement. Consequently, FinTech developers and policymakers are advised to prioritise seamless ecosystem integrations tailored to middle-aged demographics to accelerate digital economy participation.