Improving the Sustainable Usage Intention of Mobile Payments: Extended Unified Theory of Acceptance and Use of Technology Model Combined With the Information System Success Model and Initial Trust Model.

Xin Lin,Kwanrat Suanpong,Yong-Taek Lim,Shih-Chih Chen,Athapol Ruangkanjanases

doi:10.3389/fpsyg.2021.634911

Abstract

Under the background of global cross-border mobile commerce (m-commerce) integration, the importance of cross-border payment research is becoming increasingly prominent and urgent. The important value of this study is to empirically research the influence power of key elements in using two different mobile payment (m-payment) platforms in Korea. The extended unified theory of acceptance and use of technology (UTAUT2) has been widely applied in various studies because of its strong interpretive power. In Korea, there are a few empirical studies on Chinese users. Based on a survey of 908 Chinese participants (486 WeChat Pay’s Chinese users and 465 Kakao Pay’s Korean users) in Korea, this study is one application extending UTAUT2 by incorporating multi-group and multi-model constructs: UTAUT2, information system success (ISS) model, and an initial trust model (ITM), considering a multi-group analysis with some mediating variables (payment difference). By comparing the two different payment platforms’ characters, this manuscript provides a set of targeted measures to ensure Chinese WeChat Payment platform decision-makers create effective long-term strategic policies for cross-border m-payments in Korea, and eventually, benefit cross-border m-commerce and economic cooperation in Southeast Asia.

Highlights

Under the background of the global mobile commerce (m-commerce) integration, mobile payments (m-payments) have become increasingly popular in Southeast Asia
The measurement items were translated into English and double-checked for veracity of meaning from Chinese to English by two native English speakers
From the beginning of July to the end of August 2019, through face-to-face interviews with experienced users coming from Chinese students in Seoul University and local Kakao Pay’s Korean experienced users, the survey was conducted for 8 weeks

Summary

Introduction

Under the background of the global mobile commerce (m-commerce) integration, mobile payments (m-payments) have become increasingly popular in Southeast Asia. Compared to traditional cash payment means such as credit cards, mobile digital payment systems can help consumers to complete various types of online payments through digital terminal devices without. Mobile payment has brought about a historic technological revolution in the field of financial payments, with far-reaching social and economic impacts on the payment ecosystem in Southeast Asia and the world at large. The m-payment has a high penetration rate around the world, allowing convenient payment by consumers and bringing economic returns to reduce transaction costs for companies that provide products and services and rapidly improving the overall national service levels for financial transactions (Phonthanukitithaworn et al, 2016). According to the relevant literature, m-payment transactions contributed 4.6% toward global GDP in 2018, with a specific economic value of USD 3.9 trillion (CNNIC, 2019). The integration of m-payment businesses even makes the sustainable development of the Southeast Asian cross-border consumer market in the process of rapid integration possible

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