Abstract
This article is based on a study that aims to analyze factors influencing the acceptance of contactless payment devices by customers in Germany. Its purpose is to explain the influence of similar technologies, already in use towards the acceptance of contactless payment technology. Smartphones, especially the I-phone as one device of mobile technology, is offering a mobile payment procedure named Apple Pay. Contactless payment technologies are developing away from physically present credit card shaped plastic cards by an integration into mobile phone devices. Interviews in personal contact on petrol stations in Hamburg, Germany, have been conducted. Petrol stations are typically points of sale with a high rate of non-cash payments and customers have time to answer questions for an interview during refuting. 48 hours of interviews have been collected on two petrol stations in one of Germany’s largest cities, interviewing typical business-customers on a Monday and private customers on the weekend. The technology acceptance model has been chosen to identify and explain the interaction in the customer’s perception of new payment devices. The study reveals that the influence of information on the new payment process and possession of a customer loyalty card are critical variables in the customer acceptance of payment devices. Information about the new payment method proves to be the argument with strongest impact on the acceptance by customers. Besides these variables, perceived usefulness of the technology has been found as a significant factor in affecting the acceptance of contactless payment processes. Apples I-Phone with its current market penetration has the potential to provide a widespread and well known concept as basis for contactless payment technology.
Highlights
Contactless payment is believed to be the new non-cash payment process for the upcoming decade (Turban et al, 2015; Koether, 2014; Schmiedel et al, 2012)
This study focuses on three hypotheses in order to clarify customer’s behavioral intention to use contactless payment devices by analyzing their perceived usefulness (PU) and perceived ease of use (PEOU), according to the Technology Acceptance Model of Venkatesh and Davis
Regression values and standardized regression values have been calculated in order to highlight the influence of variables on the elements of Perceived Usefulness (PU) and Perceived Ease of Use (PEOU) and their influences on Behavioural Intention (BI)
Summary
Contactless payment is believed to be the new non-cash payment process for the upcoming decade (Turban et al, 2015; Koether, 2014; Schmiedel et al, 2012). Retailers have the motivation to reduce their ratio of cash versus non-cash payments, as handling of coins and banknotes is the most expensive payment instrument (Xiao et al, 2015; Gupta, 2013; Salmony, 2011). New concepts are required to step into an era that is in correspondence with new streams like industry 4.0, big data and the effect on customers in an internet connected society (Wang et al, 2014) Another aspect is that cash is an uncontrolled payment system that moves high values quick, unremarkable and untraceable from demand to supplier side. Governmental institutions are looking for plans to get these electronic payment processes, even on small amounts, to readiness and attractiveness for the retail market (Christian, 2014)
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
