From Cash to Digital Wallets: A PRISMA-Based Systematic Review of Microentrepreneur Adoption in Asia and Latin America

The transition from cash-based transactions to digital wallet usage represents a structural change in the business practices of micro and small enterprises (MSEs) in emerging economies. This study aims to synthesize scientific evidence on digital wallet adoption among microentrepreneurs, analyze the geographical distribution of research, and consolidate key empirical findings, with a specific focus on Asia and Latin America. These regions are of particular interest because they share high levels of economic informality, strong reliance on cash-based transactions, and rapid expansion of digital financial technologies, while also facing institutional, regulatory, and infrastructural constraints that shape technology adoption among microentrepreneurs. A systematic review was conducted following the PRISMA 2020 guidelines. Searches were performed in the Scopus and Web of Science databases, including open access empirical studies published between 2021 and 2025 in English or Spanish. After applying predefined eligibility criteria and removing duplicates, 39 studies were included in the final analysis. The results indicate that most publications originate from Asian countries, particularly India, Indonesia, Malaysia, and Vietnam, whereas Latin America is mainly represented by Colombia and Peru. Across both regions, digital wallet adoption is consistently influenced by trust, perceived security, perceived usefulness, and ease of use, while perceived risk and institutional weaknesses emerge as contextual barriers. Although several primary studies adopt a consumer-level analytical perspective, their findings are extrapolated to microentrepreneur contexts by emphasizing transaction-related behaviors directly linked to business operations. This review acknowledges that the predominance of consumer-focused evidence represents a limitation when interpreting firm-level outcomes. Overall, the findings suggest that digital wallet adoption among microentrepreneurs is a socio-technical process shaped by behavioral, institutional, and regulatory factors rather than technology alone.