Distinguish Significant Adoption Factors That Influence Users' Behavioral Expectation to Utilize Mobile Payment: A Survey

Distinguish Significant Adoption Factors That Influence Users' Behavioral Expectation to Utilize Mobile Payment: A Survey

Pajaree Tansakul (Charles Sturt University, Australia), Malka N. Halgamuge (Charles Sturt University, Australia) and Ali Syed (Charles Sturt University, Australia)
Copyright: © 2019 |Pages: 21
DOI: 10.4018/978-1-5225-8015-7.ch009

Abstract

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.
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Introduction

According to the Digital in 2017 Global Overview report (“Digital in 2017”, 2018) smartphones are used in more than half of the world and the total numbers of worldwide consumers in 2017 reached 4.92 billion. Interestingly, there are also 1.61 billion people who make purchases via e-commerce and use e-payment systems to pay for products and services, including mobile payment. Apart from using mobile payments for online retail, e-payment systems are also used for other businesses like traditional retail and hospitality. Importantly, mobile payment usage and revenue are forecasted to rise sharply with The FinTech Mobile Payment report (“Mobile Payments”, 2018) highlighting that total global mobile payment revenue will reach $3.814 trillion annually by 2020.

The main purpose of this chapter is to review various peer-reviewed scientific articles in order to indicate the significant adoption factors that directly affect users’ behavioral intention and adoption of mobile payment from diverse adoption models and theories used in the peer-reviewed scientific articles.

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