ASSESSING TECHNOLOGY DIFFERENCES IN ELECTRONIC AND MOBILE PAYMENT SYSTEMS AMONG DEVELOPED AND DEVELOPING COUNTRIES

Abstract

This paper examines 45 current electronic and mobile payment systems in developed and developing countries. First, each payment technology was assessed and classified as belonging to one of the several major categories consisting of SMS, WAP, USSD, NFC (RFID), Smart Card, Internet and IVR. Then, a technology prevalence matrix drawn from the previous stage was used as an input for sub-sample factor analyses. SMS, IVR and PC-based payment technologies were found to be more prevalent in developing countries, while smart card appeared most popular in developed countries. This contrast suggests that developing countries may have bypassed some established technologies and leapfrogged to mobile EPS instead. Factor analyses were run for each group and the first factor shows some differences in the main pattern of EPS for developing and developed countries. Mobile and PC-based technologies stand out when compared with NFC and smart card technologies for EPS.