Abstract
The growth of mobile commerce, or the purchase of services or goods using mobile technology, heavily depends on the availability, reliability, and acceptance of mobile wallet systems. Although several researchers have attempted to create models on the acceptance of such mobile payment systems, no single comprehensive framework has yet emerged. Based upon a broad literature review of mobile technology adoption, a comprehensive model integrating eleven key consumer-related variables affecting the adoption of mobile payment systems is proposed. This model, based on established theoretical underpinnings originally established in the technology acceptance literature, extends existing frameworks by including attractiveness of alternatives and by proposing relationships between the key constructs. Japan is at the forefront of such technology and a number of domestic companies have been effectively developing and marketing mobile wallets for some time. Using this proposed framework, we present the case of the successful adoption of Mobile Suica in Japan, which can serve as a model for the rapid diffusion of such payment systems for other countries where adoption has been unexpectedly slow.
Highlights
The diffusion of technology-based payment solutions hinges on addressing the needs, perceived or real, of consumers whose adoption will determine whether any specific mobile payment system becomes a standard
There is no specific survey on consumers’ intention to use Mobile Suica, recent data shows that a high percentage of Japanese people possesses a contactless electronic money instrument, that most mobile phone subscribers own a mobile phone equipped with an integrated contactless integrated circuit (IC) chip [6], and that most are aware of their mobile phone’s capability to make mobile payments [35]
Drawing on a broad literature review of mobile technology adoption, a comprehensive model integrating consumerrelated variables affecting the adoption of mobile payment systems has been proposed
Summary
The diffusion of technology-based payment solutions hinges on addressing the needs, perceived or real, of consumers whose adoption will determine whether any specific mobile payment system becomes a standard. The proposed comprehensive model of mobile payment adoption is illustrated with the case of mobile Suica, the most successful instance of mobile wallet in Japan and arguably the world, drawing on accessible data and existing surveys on mobile payment systems available in Japanese as well as in English before May 2011. This paper presents in section two an overview of electronic wallets and mobile payments, with a focus on Japan, which is far the only country to have successfully adopted such payment system. Section three describes the theoretical underpinnings of technology acceptance, online marketing and shopping, and payment and banking, with a particular focus on empirical studies dealing with mobile technology acceptance, online shopping/mobile commerce, mobile marketing, mobile payment and wallet adoption. Based on the previous review of the relevant literature, section four identifies eleven key constructs for mobile payment adoption from a consumer perspective. Section five is a discussion of the study’s findings, how they contribute to mobile payment adoption research, and how they fit in the broader context of the mobile payment ecosystem which includes all the stakeholders of this relatively new service
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