РОЗВИТОК МОБІЛЬНИХ ПЛАТЕЖНИХ СЕРВІСІВ: МАРКЕТИНГ FINTECH ПРОДУКТІВ

PurposeThis paper aims to investigate the effect of factors that inhibit adoption of mobile payments service in India.Design/methodology/approachBased on the extant literature on mobile payment service and other related literature, factors were identified that drive consumer resistance toward its adoption. It engaged “innovation resistance theory” framework for understanding consumer resistance. The framework addressed five categories of barriers, namely, usage, value, risk, image and tradition that lead to negative perception of innovation, and therefore, induces positive impact on its resistance. Additionally, the study considered a few lesser investigated barriers (habitual use of cash, surveillance, technology) for the study, thus extending the existing theoretical framework. Hypotheses were framed, field data were collected and then analyzed using multivariate techniques.FindingsFew interesting observations were made from the study. Usage, image and value barriers hindered adoption of mobile payment service. In case of men, usage, value and image were the primary barriers. For women, usage, image, habitual use of cash and technology acted as barriers that curbed mobile payments service adoption. Additionally, except risk, tradition and surveillance barriers, relationships of all other constructs with adoption intention were moderated by gender.Research limitations/implicationsThis research was limited to the views of the urban population in India who used mobile payments service. The results may vary across geographical contexts because of culture or socioeconomic differences.Practical implicationsThe growth of mobile payment service has remained sluggish in India despite high levels of digitization. The study results will offer valuable insights to the Indian business managers and policymakers to identify what action plan needs to be instituted to make mobile payments service more attractive and acceptable to users.Originality/valueThis empirical study extended and tested the classical innovation resistance theory framework by adding three less studied barriers (surveillance, habitual use of cash and technology) in a developing nation, thus enriching the current literature on consumer resistance toward mobile payments. It also examined the moderating effect of gender on mobile payments service adoption.

Financial equality through technology: Do perceived risks deter Indian women from sustained use of mobile payment services?

ABSTRACTMobile payment services hold the potential for financial inclusion in developing economies. Low-income countries are characterized by distinctive conditions like price sensitivity, low digital penetration, high risk of failure, and competitive emerging markets, which further influence mobile payment usage. We develop a research model to identify the contextual facilitators (like price benefit, network externalities, trust, and habit) and barriers (like risk, lack of facilitating conditions, and operational constraints) driving mobile payment usage intention. We test the model using data from 298 survey respondents from India who had adopted and were currently using mobile payment services. The factors that facilitate or constrain users’ intention to continue using mobile payments are essential in understanding the technology’s sustenance and its future in enabling financial inclusion.

Chapter 6 - Security Issues of In-Store Mobile Payment

In retail transactions, mobile payment services (MPS) can potentially replace cash, particularly in developing nations that lack card-swipe machines. Due to the concern that currency notes could spread diseases during the COVID-19 outbreak, digital payments saw a rise in popularity as a practical payment alternative. The extended period of the pandemic resulted in an extended period of continued usage, even for new users. Despite having a lengthy trial period, user-friendly interfaces, and greater fungibility than cash, MPS did not find widespread acceptance, and cash still predominates in retail transactions. There is a lot of research on technology adoption, however there is considerably less on usage retention. While there is some literature on continued use of technology, the main factor for discontinuation or reduction of usage is the lack of satisfaction. With MPS, satisfaction is rarely an issue, yet users limit the extent of their usage. In the context of retail transactions, this research explicitly examines continued usage following extensive initial use. The Gioia method of grounded theory was used to investigate the factors preventing continued use of MPS for retail transactions. The qualitative interviews were carried out among users in an emerging economy that is a leader in MPS adoption and use. To explain the barriers to the continued use of beneficial technology, this study proposes a conceptualization of consumer decision inertia with three dimensions categorized as deep-rooted habits, vicarious indifference, and kairotic uncertainty. This insight would be beneficial to MPS organizations not just in developing countries but even for developed economies. The conceptualization of consumer decision inertia also offers insights that can be applied in the context of sustained usage of other consumer-facing technologies.

NOTE: THIS ARTICLE WAS PUBLISHED WITH THE INFORMING SCIENCE INSTITUTE. Aim/Purpose.............................................................................................................................................................................. This study examines the factors that influence customer intention to use mo-bile payment service in Nanjing, China. It also gains a deeper understanding and better insight of Chinese consumer behavior. Background.............................................................................................................................................................................. Mobile payments services represent a tremendously interesting paradox in the world of telecommunications. Although, they are convenient, quick and easy but there is not still enough evidence on how successful this practice is. In Nanjing, China, consumer intention to use mobile payment is still questionable and remains as a skeptical consideration. Methodology.............................................................................................................................................................................. A survey was conducted in Nanjing, China where 612 respondents were interviewed by self-administrated survey. The modified Theory of Reasoned Action (TRA) and Technology Acceptance Model (TAM) were applied in this study. Descriptive analysis, exploratory factor analysis and multiple regressions were used to accomplish the objective. Contribution.............................................................................................................................................................................. This research provides an insight to the mobile telecommunication industry, marketers, decision makers and academics on the factors that encourage consumers to use mobile payment. Findings.................................................................................................................................................................................... Four factors that influence the consumer behavioral intention were deter-mined in this study (perceived risk, perceived usefulness, subjective norm and attitude). The results of multiple regression indicate that all four variables significantly influence consumer intention to use mobile payment in Nanjing, China, however subjective norm has relatively high impact as compared to others. Recommendations for Practitioners........................................................................................................................................ In order to build a positive expression of the brand, mobile service providers are suggested to enhance the persuasion of the application. As customers provide their privacy information to register for the mobile payment services, providers should strengthen their security system. This not only shapes consumer trust but also prevent privacy leakage. Secondly, mobile payment application providers can imply policies for protecting customer rights from potential risk to increase their agreement of the application. These will lead to unexpected losses financially. Recommendation for Researchers............................................................................................................................................ It is recommended to make a comparison study between two Mobile payment platforms by examining constructs such as usefulness, ease of use, perceived risk as well as security risk, financial risk, social risk and time risk between Alipay and Wechat payment system in China. Impact on Society........................................................................................................................................................................ Various forms of mobile payment have been adopted by Chinese consumers due to convenience, speed and ease of use. Even though mobile payment does not replace physical payment cards but it has been acting as a substitute for paper-based payment method and it is driving demand and consumer usage. However, there the potential for data to leak creates some level of insecurity and skepticism for Chinese costumers. Future Research............................................................................................................................................................................ To have an in depth understanding about the consumer intention to use mobile payment, it is recommended to determine the current customers’ satisfaction level by adopting the SERQUAL model. Qualitative and quantitative research with focus group will be a good approach to get a deeper understanding on the factors that influence consumer to use mobile payment services rather than others payment methods. It is also important to get more information regarding customer satisfaction towards the mobile payment platform.

Electronic payments like mobile banking services have been associated with unprecedented access to financial services in economies, where a large section of the population was underfunded or underfunded due either due to lack of proximity to bank branches. However, the continuous development of electronic payment systems, especially mobile payment in sub-Saharan Africa has brought about a rise in volume of cashless transactions, thereby reducing the use of cash for payment. This therefore promotes financial integration among the segments of the population as it offers those without access to the formal banking system a safe and efficient payment alternative to cash. Also, electronic payment usage also has enormous benefits to governments as it will potentially help collect more tax revenue by providing a clear electronic trail and transparent transactions that can readily be taxed. Our study considers how mobile money services influence innovative economic growth. A linear regression analysis sub-Saharan African data for period 2011-2018 has been carried out. It has been revealed that mobile services and payments system have significant positive effect on economic growth, hence innovative development of the region. Based on these findings it is concluded that mobile payment services or systems are critical aspect of financial intermediation in sub-Saharan Africa as they offer them funds that can be drawn into the formal financial system from resources from both the population with bank accounts and the population without bank accounts, which can contribute to innovative economic growth in the region.

Since the COVID-19 outbreak, the use of mobile easy payment services that minimize human contact has rapidly increased. Several studies have explored the relationship between the COVID-19 pandemic and the intention to use mobile easy payment services, assuming that the relationship between both variables is simply linear. However, actual complex relationships between variables cannot be fully analyzed in a linear fashion, as most relationships between variables of social phenomena are non-linear. Therefore, this study attempted to analyze the non-linear relationships between factors influencing the intention to use mobile easy payment services, especially since the COVID-19 outbreak, by applying the extended technology acceptance model (TAM2). Online and offline surveys were conducted with users who have used mobile easy payment services since the COVID-19 outbreak; 227 samples were secured for analysis. In addition, an empirical analysis was conducted using PLS-SEM to determine the linearity of relationships between variables. The results showed that subjective norms, perceived ease of use, and perceived usefulness had significant effects on the intention to use mobile easy payment services. Moreover, the COVID-19 pandemic had a significant moderating effect, also implying non-linear relationships between variables. Based on these results, the study proposes that the pandemic is a factor influencing the intention to use mobile easy payment services, and recommends that providers adopt marketing strategies, such as improving the usefulness of these services.

In modern era technology advancement make life easier and quicker. As adoption of technology becomes the essential part of every organization, same is happening in banking industry. Currently, technology acceptance is one of the core issue discussed in banks executive management meetings. The biggest challenge in the service industry is to provide the financial services to those who don’t have access to it. This study focuses to enhance the solution for delivering financial services as a tele-pay through integration rather than direct branch banking. Telecom and bank collaboration solve the problem of providing basic financial services to those who do not have access the services either due to their remoteness or inaccessibility. Tele-pay is considered as mobile payment services provided through telecom companies. Using Technology acceptance model (TAM) we have investigated four factors which are important for adoption of mobile payment by the customers i.e; trust, accessibility, perceived ease of use and perceived usefulness. Technology acceptance model (TAM) is widely used to analyze these factorsinfluence on adoption of mobile payment. Studies have considered compatibility, self efficacy and social influence affecting mobile payment adoption and trust, accessibility, perceived ease of use and perceived usefulness were found to be more relevant for customer acceptance. These indicators are used to investigate in the context of Pakistan to enhance mobile payment acceptance. The implication of this study for both telecom and banking industry is to further explore the ways for ease of adoption for mobile payment services among mass people. Keywords: Tele-Pay, Mobile Payment, Telecom, Banking, Financial Services

The purpose of this paper is to investigate the factors involved in adoption of a new innovation by consumers specifically in the mobile payment services context. With the mobile penetration of nearly 70% in India, mobile payments services have huge potential in the country; however, customer adoption of mobile payment systems is very low. Therefore, there is a need for research to identify the factors affecting consumer intention to use mobile payment systems. To get meaningful comprehensive insights on customers' perception and usage intention of mobile payment systems, current research validates a model based on Technology Acceptance Model (TAM) using a sample of urban population from two metros in India. The empirical findings indicate that the constructs of performance expectancy, effort expectancy, social influence and facilitating conditions have significant impact on mobile payment services adoption among the consumers. This study provides insights into mobile payment services in India which has not been investigated well. Also, there is lack of studies which connect consumer attitudinal factors like performance expectancy, effort expectancy, social influence and facilitating conditions in the e-finance and mobile finance context especially in India.

Investigating the adoption of mobile banking and mobile payment services in developing countries

The human–computer interaction (HCI) for mobile applications is becoming increasingly important as mobile applications have become an integral part of everyday life. Mobile app developers need to continuously improve the users’ experience to fulfill their conditions, which in turn, can trigger the purchase decision. Trust is another important factor, driving users to adopt mobile apps and use them to make online purchases. However, mobile app developers constantly face the dilemma between user trust and HCI experiences. This study’s primary purpose is to investigate the HCI and trust factors for the continued use of mobile payment apps and their services. Based on the human–computer interaction, task–technology fit, and IS success theories, an integrative framework is proposed to examine the relationships between continuance intention and its antecedents. An online survey was conducted to collect data from 544 mobile users. The results of the analyses indicate that trust plays a more significant role than HCI in increasing the users’ continuance usage of mobile payment services. As for improving HCI experiences for users, this study shows that system quality plays the most important role, followed by the skill of using mobile payment services and the perceived task–technology fit (TTF) for using the services. Information quality does not significantly impact the enhancement of positive HCI experiences. The results provide insights for the developers of mobile payment services to improve the user experience.

This joint minitrack on Mobile Value Services, Mobile Business and Mobile Cloud is focused on key aspects of the applications of mobile technology and services which can be developed using mobile technology as the platform. The future of mobile telephony is expected to rely on mobile services and the use of mobile services will be an integral part of the revenues that were expected to be generated by third generation mobile telephony. The adoption of new mobile services contradicts this proposition as it has been much slower than expected. Several reasons have been suggested for the slow uptake of mobile services, ranging from cultural differences to the business models of the actors, lacking innovation capabilities of content and service providers, and national mobile network operator strategies. If we look at some of the scenarios offered in the multitude of commercial market studies carried out each year there is now said to be an evolution of mobile telephony from voice and text communication to the use of value added services. This change is notable in three ways, which have precedents in the history of communication and media technology: (i) it changes the nature of mobile telephony; (ii) it is a challenge to the continuity of mobile telephony, making it a financially risky step to take; and (iii) we cannot yet say how and for what purposes the services will be used in the future. An estimate for mobile phones is that we will reach 6 billion by 2012 which makes this technology one of the most distributed and adopted in the history of mankind. Mobile value services are services which are designed as functional adaptations to the user context in such a way that they make user actions and activities more effective and/or more productive and/or working with less cost and/or possible to carry out with less use of resources and/or able to simplify user routines in such a way that all the previous effects will be realized. The mobile value services designs (methods and models) aim at services which will expand the limits of the possible in the structure of everyday life, which will contribute to making them everyday routines for the general population, i.e. services which will be used continually and as part of regular activities. Critical points for developing a good mobile service include ease of use, usability, service discovery, and access to services over networks and channels, personalization and context awareness in services, and interoperability of services. This joint minitrack hosts nine papers covering different aspects of services, business and technology. Mobile business, key aspects of mobile commerce such as business models, impacts of mobile information systems and regulatory issues are discussed by the three papers in the field of mobile business accepted in this minitrack. The design and adoption of mobile services, the existing enterprise applications that are available, behavioural aspects of the users and gaming as a service solution are dealt within the remaining six research articles in this minitrack. The issues at the core of this minitrack are to develop value-added content, business models and technologies, which can create key mobile features and serve as drivers for a growing market demand. It also explores the possibilities of mobile cloud platforms. Together, these nine papers present a thorough snapshot of emerging issues relevant to the field. 2012 45th Hawaii International Conference on System Sciences

Innovation in finance and advances in payment sytems are very important to boost remittances and encourage the successful development of electronic businesses around the world. Thus, many leading companies use mobile payment services to improve the customer experience of their customers. This study aims to identify the factors that influence consumers to continue using mobile payment in Indonesia. Several influencing factors include Service Quality, Perceived Ease of Use, Security, Perceived Usefulness, and Trust. This research was conducted in Madiun City, one of the big cities in Indonesia, with a total of 176 respondents. The study results can help mobile payment companies understand factors that are relevant to increasing volume usage in the context of merchants. The findings of this research is Continuance Intention influenced by Trust. Trust is significantly influenced by the independent variables such as Service Quality, Perceived Ease of Use, Security, and Perceived Usefulness. However, perceived risk has no significant effect on continuance intention. Therefore, mobile Payment service providers should be able to implement action plans related to the quality of their services, user experience to customers, security of an application, and the functions and features implemented by a Mobile Payment. Hopefully those things will generate trust in customers to continue to use Mobile Payment services.

PurposeAs mobile payment systems have been in constant demand and are increasing in recent years, the various stakeholders involved in the process need to be identified. The study mainly includes ease of use, perceived usefulness, facilitating conditions, social influences, adoption readiness and intention to use financial technology (FinTech) in India. This paper aims to discuss FinTech and its dynamic changes in the banking sector. This study tests the mediation influence of perceived trust on adoption readiness and intention to use FinTech in India. The proposed impact of mediation of perceived trust was significant but small on adoption readiness and intention to use FinTech.Design/methodology/approachA questionnaire survey was administered to mobile payment users, and 349 responses were collected. Structural equations are analyzed to determine the proposed variables’ direct effects on adopting them. Additionally, to examine indirect effects, the mediation test is used.FindingsThe analysis results support the proposed model and thus help explain the impact of adoption readiness, trust and intention to use digital payment. The study’s significant findings will enable mobile payment institutions to understand the variables related to the growing use of technology in customers’ contexts. The study reveals the significance of ease of use, perceived usefulness and facilitating the service condition, which means that vendors prefer to use compatible devices that are easy to use with other devices. The analysis also explores the critical influence of perceived usefulness on customer behavior, enabling software designers to encourage accessible processes and device advantages for customers.Practical implicationsMobile payment systems offered by financial institutions until currently become a variety of mobile payment services due to rapidly evolving information technology. This work is a groundbreaking attempt to apply technology acceptance in recent years to the emerging framework of mobile banking systems. This study examines the adoption of mobile payment technologies by proposing an extended technology acceptance model (TAM) to capture the issues associated with adoption in India through banking users. Now customers are aware that cyberattacks on banking networks and data breaches quickly through media and social networks. Also, they know that the industry has done little to avoid or mitigate these attacks.Originality/valueThis study examines the adoption of mobile payment technologies by proposing an extended TAM to capture the issues associated with adoption in India through banking users.