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Item Factors Affecting the Adoption of Mobile Money Payment Systems by Small Business Owners in Colombo District, Sri Lanka(Department of Finance, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2025) Kawshalya, J. M. H.; Samarawickrama, A. J. P.Introduction: The adoption of mobile money payment systems has garnered global interest for its role in promoting financial inclusion and business efficiency. However, in Colombo district, Sri Lanka, small business owners demonstrate limited adoption of these systems. This study explores key factors influencing adoption, including perceived usefulness, ease of use, credibility, cost, awareness, promotions, and facilitating conditions. Methodology: This quantitative study used a structured survey of 387 small business owners in Colombo district, examining factors like perceived usefulness, ease of use, cost, awareness, and facilitating conditions on mobile money adoption. Data analysis involved SPSS with reliability, descriptive, correlation, and regression tests. Findings: The study highlights perceived usefulness and cost as key drivers of mobile money adoption, with awareness and facilitating conditions also influential. Perceived ease of use has a moderate effect, while demographic factors like education, income, and business type moderate these relationships. Conclusion: The findings emphasize the need for targeted initiatives to improve awareness, reduce perceived costs, and enhance the perceived usefulness of mobile money payment systems. Service providers and policymakers can use these insights to develop strategies that address the specific barriers faced by small business owners in Colombo, ultimately fostering greater financial inclusion and digital transformation.