Use of digital payments has become prevalent globally, including in countries with developing economies. Yet there is still limited understanding of the factors giving rise to digital payments service munificence in these contexts. This interpretivist study utilized the abductive qualitative content analysis approach to develop propositions and a context sensitive theoretical framework grounded in empirical data on Zimbabwe that explains the underlying factors giving rise to digital payments service munificence. It utilized secondary data from 12 monetary policy statements published online over a period of 6 years. The factors that emerged included technological characteristics and institutional interventions these resonating with diffusion of innovations theory and institutional theory respectively.