Digital Financial Services and Financial Inclusion: The effect of e-levy on Adoption of Mobile Money in a Sustainable Economy, Dr Arya Kumar, Asokan Vasudevan, Sidar ATALAY ŞİMŞEK, Nasyra Jamil
Dr Arya Kumar 
School of Economics and Commerce, Kalinga Institute of Industrial Technology, (KIIT) Deemed to be University
India
ORCID:0000-0002-8203-361X
Asokan Vasudevan
Faculty of Business and Communications
INTI International University
Malaysia
ORCID:0000-0002-9866-4045
Sidar ATALAY ŞİMŞEK
Department of Economics
Batman University
Turkey
ORCID:0000-0003-0288-1828
Nasyra Ab. Jamil
Faculty of Business and Communications
INTI International University
Malaysia
ORCID:0009-0005-9792-6540
Type of Paper: Research
Purpose: This study analysed the effect of mobile money taxes on electronic and financial inclusion, focusing on actual use of mobile money services and users' Behavioural intentions.
Research Context: Grounded in the Unified Theory of Acceptance and Use of Technology (UTAUT) framework, the study examines adoption of mobile money in the state of Odisha, India.
Design: Using data from 364 mobile money users in Odisha and analysed via PLS-SEM under the UTAUT framework, the study finds that digital levies reduce actual usage despite strong behavioural intent driven by performance expectancy, effort expectancy, and social influence.
Findings: Effort expectancy, facilitating conditions, social influence, and performance expectation significantly shape behavioural intentions, which strongly influence mobile money adoption. Taxes, however, negatively affect actual use, reducing financial inclusion.
Policy and Practical Implications: The findings suggest that policymakers should reconsider electronic levies to foster mobile money adoption while mobile money operators should enhance user-friendly features and support systems.
Keywords: Mobile Money Technology, Financial Inclusion, Digital Inclusion, Mobile Money Taxation, e-Levy, Developing Nations.
Citation:Kumar, A., Vasudevan, A., ŞİMŞEK, S. A., and Jamil, N. A.(2026): Digital Financial Services and Financial Inclusion: The effect of e-levy on Adoption of Mobile Money in a Sustainable Economy,World Journal of Entrepreneurship, Management and Sustainable Development, Vol. 22, Nos 1-2, pp. xx-xx.