Perceived Risk and Attitude as Determinants of Mobile Payment Adoption: A Behavioral Economics ‎Perspective

Aim/Purpose: Mobile commerce adoption is low in developing countries; hence, public servants may not consider mobile commerce and mobile payments. Understanding the factors that influence mobile commerce and mobile payments in their context will aid in promoting those services. Background: The study investigates the factors that influence public servants’ mobile commerce and mobile payments in Ghana. Hence, it provides some understanding of the various aspects of mobile commerce and mobile payments adoption, such as acceptance, use, and eventual adoption into the user’s daily life, and how that affects their behaviour. Methodology: The research was conducted by surveying the factors influencing public servants’ adoption of mobile commerce and payments in Ghana. A cross-sectional survey was undertaken to put the research model to the test to measure the constructs and their relationships. Contribution: The study confirmed previous findings and created a new conceptual model for mobile commerce and mobile payment adoption and usage in the Ghanaian context. Findings: The variables of performance expectancy, trust, and facilitating conditions have a significant positive influence on behavioural intention. The factors of effort expectation and social influence have a significant negative impact. Price value and perceived reliability are latent variables that do not affect behavioural intention. Behavioural intention and facilitating conditions significantly influence the actual use behaviour of mobile commerce and mobile payment users. Recommendations for Practitioners: Mobile commerce is emerging as a new mode of transactions, with firms providing enabling platforms for users. Mobile commerce could become the most acceptable application for the next generation of mobile platform applications. This study offers insights into the fluidity of the mobile environment, with implications that spell out what will be effective mobile commerce services that will continue to be relevant. Mobile applications are attractive to people because they provide a better user experience. These mobile applications have been optimised to provide a fast, easy and delightful experience. Mobile commerce and mobile payment service providers can attract and retain more users if attention is paid to performance expectancy, trust, and facilitating conditions since they influence individuals’ decisions to adopt. Mobile technology is almost ubiquitous, influencing both online sales and in-store sales. With the right mobile commerce platform and features, businesses can expect to increase in-store and online sales, catering to a more extensive clientele. Mobile devices are the primary means that most customers use to look up information about products they see in stores, such as product reviews and pricing options. This study indicates that mobile commerce service providers can achieve a more extensive customer base by promoting performance expectancy, trust, and behavioural intentions. Recommendation for Researchers: Despite the numerous studies in the mobile commerce literature, few have used integrated models of perceived reliability, trust, and price value or methods to evaluate these factors in the emerging mobile commerce industry. Also, it combines mobile commerce and mobile payments, which very few that we know of have done. Impact on Society: Ghana is already in a cash-lite economy. Thus, the study is appropriate with the result of trust being a significant factor. It implies that people will begin using mobile commerce and mobile payments with a bit of drive to bring about this drive quickly. Future Research: Future research could further test the adapted model with moderating factors of age, gender, and education to delve deeper into the complexities of mobile commerce and mobile payments.

This paper explores the use of mobile payment for the purchase of coffee by college students. Mobile payment is an attractive feature to many consumers. The consumption of coffee and the number of coffee shops have increased significantly in Saudi Arabia. Young female adolescents are frequent coffee shop visitors and also savvy technology users in Saudi Arabia. Therefore, this paper investigates the determinants influencing female university students’ adoption of mobile payment to purchase coffee using a logistic regression method. Research on the topic focused on “security” and “trust” issues as important pre-requisites for mobile payment adoption. However, this paper reveals a number of demographic variables that influence coffee purchases through mobile payment. The findings of this study concluded that marital status, safety, age, and monthly income are significant determinants of using mobile payment to purchase coffee. Price was an insignificant factor in students’ decisions regarding mobile payment adoption. The probabilities of using mobile payment increase as students get older. Also, single female students are more likely to use mobile payment compared to married students. This study recommends that multi-perspective and multi-level research is required as consumer mobile payment adoption is a complex phenomenon in the food and agricultural sector.

The development of smartphones and mobile internet technologies has promoted the development of mobile payments worldwide. The core purpose of this study is to ascertain what the main factors are which affect Dutch customers’ adoption and experience of mobile payments. This study first addresses the concepts of mobile payments and customer experience and then explores the current Dutch financial and banking systems, before attempting to understand the recent researches worldwide on mobile payments. Based on quantitative research methods, the study examines the factors that influence the adoption and experience of mobile payments and the impacts of the COVID-19 outbreak on payment methods due to social distancing rules in the Netherlands. It finds that perceived ease of use, perceived usefulness, safety and trust are the main factors that affect the adoption of mobile payments, and mobile-payment providers need to improve technical protection and offer some benefits to boost the mobile-payment business. The COVID-19 outbreak has caused the decline of cash payments and the increase of contactless payments in the Netherlands; mobile payments ensure people’s health and help slow down the spread of the virus.

The adoption of mobile payment is still rather new for an emerging economy like Malaysia whereby cashless payment has yet to be fully accepted by the vast majority. There is still a lack of studies found on the cross-country differences between China and Malaysia, thus, this study attempted to compare the adoption of mobile payment between these two countries to identify the differences in mobile payment adoption using theory of reasoned action and technology of acceptance model. Consumers from Nanjing, China and Klang Valley, Malaysia were selected for this study. A total of 384 respondents from each country were surveyed using personal administered questionnaire. Among the four factors, perceived security seems to differ for the two countries and the study provide a new insight to researchers and market practitioners in terms of analysing the adoption of mobile payment in future.

In this chapter, the authors performed an analysis of the data extracted from 39 peer-reviewed scientific publications between 2015 and 2018 describing users' adoption of various mobile payment systems encompassing methods, technologies, adoption models, theories, variables of the adoption models and theories, as well as significant adoption factors. The analysis demonstrates that the technology acceptance model (TAM) is the most popular model to investigate users' adoption of mobile payment. Both the original and extended versions of TAM are studied broadly to examine the individual's intention to adopt mobile payment. In addition, the analysis of the results from this chapter demonstrates perceived compatibility has the strongest positive impact on the intention to use mobile payment technology whereas perceived risk has a negative relationship with the intention to use mobile payment technology.

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

This research is a systematic literature review of recently published studies in mobile payment adoption. The final 72 English articles published in reputable journals from 2016 to 2020 are selected from several online major scientific databases. The main objectives are to investigate the influencing factors in adopting the mobile payment systems, the moderating factors, the perspective used in the adoption (customer or merchant perspective), and the most active countries in studying the adoption of mobile payment systems. The result reveals that both Perceived Usefulness and Perceived Ease of Use are the factors used the most frequently in mobile payment adoption studies. There are very limited studies that explore the moderating factors in their theoretical model, with Gender and Age as the two most used moderating factors. India is the country with the most studies in the adoption of mobile payment, followed by the US and Spain. Developing countries in Asia (excluding India) and Africa need to be more active in this area of research. Lastly, most research in mobile payment explores the adoption from the customer view. Future research needs to explore mobile payment adoption from the merchant view.

Purpose- The purpose of this study is to build a set of hypotheses and a novel conceptual model around the adoption of mobile payment. In brief, it is to discuss how mobile advertisement effect affects the intention to use the mobile payment. Methodology- The study aims to apply a partial least squares (PLS) path modeling technique to demonstrate exploring the relationship between mobile trust and involvement along with customers’ attitude and mobile payment intention. Findings- The findings revealed that for the online marketing strategy of mobile advertisement environment, with mobile trust and product involvement, it could be an effective contribution for the online marketers to increase the intention to use mobile payment and customer attitude. Conclusion- It was concluded that consumers used to receive the mobile advertisement easily. The level of product involvement and customer attitude also influence the credibility toward the consumers, and extend the information to every hierarchy of customers.

Financial inclusion refers to the use of financial services such as electronic money. Digital money receives tremendous attention globally, from buyers to sellers, as an alternative form of payment. The passions on this technology enormous and infectious, therefore attracting more followers from large merchant to smaller one including the cooperative. School cooperative serves as a center of economic with a wide range of activities, such as mini market, canteen, to serve the needs of students, teachers, and people in the surrounding area. One of the programs launched by the Central Bank of Indonesia is a financial inclusion to increase the financial literacy of people living in the remote area. In this case, Islamic conventional boarding school cooperative can become influencers in most of the surrounding community to attract people’s interest to adopt the technology. The purpose of this inquiry is to find out factors influencing the adoption of mobile payment and user’s intention and decision to adopt m-payment. Authors proposed an innovative research model based on the theory of technology acceptance model with the innovation characteristics of the diffusion of innovations, perceived security and intention to recommend the technology. The research model has empirically tested at 205 employees Islamic boarding schools across four regions. The independent variables under study include perceived ease of use, perceived usefulness, perceived credibility, subjective norms, and trust while the dependent variables are mobile payment adoption and intention to recommend the technology. The study uses structural equation modeling as a tool for analysis. The result indicated that perceived ease of use, perceived usefulness, and subjective norms have a significant influence on the adoption of mobile payment. The study also confirmed the relevance of users’ intention to recommend mobile payment technology. Thus, future research needs to include social media campaigns and technology adoption studies. For researchers, the result of this study act as a basis for further refinement of personal technology acceptance model. For practitioners, understanding the key constructs is crucial to design, refine, and implement mobile payment services, applications, and products that achieve high consumer acceptance, value, and high rates of positive recommendations in social networks.

Mobile payment: Understanding the determinants of customer adoption and intention to recommend the technology

The purpose of this study is to examine the antecedents of behavioural intention to adopt mobile payment among working adults in Malaysia. The variables of the unified theory of acceptance and use of technology 2 (UTAUT2) with perceived security were adopted as a theoretical base. The gathered data through a questionnaire were examined by using multiple linear regression (MLR) analysis. The study revealed that performance expectancy, facilitating conditions, hedonic motivation, and perceived security are significant in mobile payment adoption. However, effort expectancy and social influence are not significant. The findings of this study contributed to a simple UTAUT2 model with perceived security as an additional construct in explaining the adoption intention of mobile payment. The findings of this study are applicable to the mobile payment service providers in Malaysia to improve their mobile payment quality by improving the facilitating conditions.

This study attempts to identify the catalytic role of smartphone addiction in driving mobile wallet payment adoption behavior in emerging economies such as India. The research model was tested using a questionnaire-based response collected from 512 young consumers. The findings of structural equation modeling and multi-group analysis helped in understanding the influence and importance of the research constructs of perceived ease of use, perceived usefulness, and subjective norms in the adoption of mobile wallet payments by young people. The results indicated that the moderating effect of smartphone addiction played a substantial role in the adoption of mobile wallet payments. It has also revealed the importance of communication to the right consumer through proper channels and the appropriate age group. The outcome of the study can be utilized by marketers to frame strategies for positioning their services among an appropriate consumer base, thereby enhancing Internet business opportunities.

PurposeThis research aims to uncover how the adoption process of a mobile payment solution unfolds in its local use. We examined micro-enterprises’ adoption of UPI-based payment system in India.Design/methodology/approachWe employed an ethnographic approach to study the micro-entrepreneurs’ daily practice and adopted a relational ontology to conduct an “in-practice” enquiry of the UPI payment adoption process.FindingsApplying the practice perspective of Technology Affordances and Constraints Theory, we found that UPI adoption was shaped through a dynamic interplay of emerging affordances and constraints. New features, such as All-in-one QR, enabled actions like cross-platform money transfer but also introduced challenges like fraud. Advancements in the technology addressed previous challenges but also created new hurdles. This cycle of evolving affordances and constraints within the contextual use of UPI payment technology shaped its adoption process.Research limitations/implicationsThe findings contribute to the existing body of mobile payment literature by elucidating the role of localized and ongoing enactment of affordances and constraints. Unlike existing adoption theories, using relational concepts of affordances and constraints revealed how the integration of mobile payment into practice leads to emergent use patterns and widespread adoption.Practical implicationsWe emphasize the need for solutions that address localized challenges and contextual needs. The study advises policymakers to consider technology’s benefits and limitations in interventions.Originality/valueThe study offers a unique view on mobile payment adoption, highlighting the role of technological materiality and temporality. It reveals how the changing materiality of technology shapes the adoption process through localized affordances and constraints.

This study develops and empirically tests a research model to comprehensively examine factors influencing the adoption of mobile payment at physical stores. In particular, this study proposes an integrated theoretical framework that combines the theory of technology acceptance model (TAM) and unified theory of acceptance and use of technology (UTAUT). The results indicate that: attitude is the most important factor influencing users' intention to adopt offline mobile payment compared to perceived usefulness and social influence; personal innovativeness, perceived usefulness and promotional offer also have significant effects on attitude whereas the perceived ease of use is not as important as others but does with significant effect on perceived usefulness.

Background: Mobile payments represent a rapidly growing method of performing financial transactions, primarily due to the widespread use of smartphones and related technologies. Despite their numerous benefits, the global acceptance of mobile payments remains inconsistent, particularly in developing countries. Purpose: This study aims to examine factors influencing the intention to accept and use mobile payment systems among consumers in Central Serbia. The research model is based on the UTAUT2 framework, extended by perceived trust and perceived risk. Study design/methodology/approach: A quantitative research approach was employed, using a structured questionnaire distributed to 845 potential respondents, of which 239 valid responses were obtained. Data were analyzed using SPSS with descriptive statistics, correlation, and multiple regression analyses to test the proposed hypotheses. Findings/conclusions: The study reveals that performance expectancy, effort expectancy, facilitating conditions, price value, habits, perceived trust, and perceived risk significantly influence behavioral intention to use mobile payments. Moreover, habits, behavioral intention, and facilitating conditions also significantly influence actual use behavior. Social influence and hedonic motivation were found to have no significant impact on behavioral intention. Additionally, perceived trust significantly reduces perceived risk, highlighting the interplay between these two constructs in user behavior. The model explains 72% of the variance in behavioral intention and 45.5% in use behavior. Limitations/future research: The study is limited to Central Serbia, with a modest sample size and overrepresentation of older respondents. Future research should include broader geographic coverage and examine the moderating roles of gender and age on mobile payment adoption.