Abstract
WeChat payment has recently become a popular mobile payment service in China by bundling with WeChat, the most popular social network service in China. It is interesting to investigate the reasons for its popularity. In this research, we applied the technology acceptance model to predict its acceptability and to identify variables attributing to its popularity. In addition to the primary explanatory variables, i.e., Perceived Ease of Use and Perceived Usefulness, the proposed framework is further extended to include the constructs of Social Interaction, Trust, Perceived Enjoyment and Use Context. The results indicated that the proposed model is able to explain the variance in a user’s intention to use WeChat payment service. We hope this study can provide insights into understanding the adoption behaviour of socially aware mobile payment services.
Highlights
With the development of information technology, E-commerce has become an important part of modern economic industries and a magnificent growth has been observed in recent years
One of the influential reasons is that WeChat is the most popular mobile app based on social network service and WeChat payment is integrated into its main interface [24]
This study developed a theoretical framework based on the Technology Acceptance Model (TAM) model and discussed the structural equation modelling analysis of a social network mobile payment service adoption
Summary
With the development of information technology, E-commerce has become an important part of modern economic industries and a magnificent growth has been observed in recent years. Online mobile payment has become one of the most important smartphone services in E-commerce [41], since mobile payments can lead to customer satisfaction [41], cost reduction [67], competitive advantage [25] and firm growth [71]. Mobile payment enables users to check account balances, transfer money, pay bills and conduct financial management at any time from anywhere [43]. Due to the advances of mobile Internet technology, and the rapid growth in the number of mobile users, making payments for goods, services, and bills via mobile devices is playing an increasingly important role in our daily life [54]. According to the data of the recently released report, The First Quarter of 2017 China’s Third Party Mobile Payment Market Monitoring Report, China’s third-party mobile payment market size of 18.80912 trillion yuan increased 46.78% [61]
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