Mobile payment implementation: a reference framework

Abstract

Over the last few years, there has been a growing prevalence of electronic commerce with most consumers and businesses preferring cashless mode of payments. The recent advancements in wireless data infrastructures have created a new channel for mobile payments. Not all mobile payment implementations, however, are successful from the business point of view as well as the consumer point of view, thereby decelerating the growth of m-business one of the main reasons being lack of suitable guidance or planning for a successful mobile payment adoption. This paper attempts to address this problem by proposing a reference framework or roadmap that adopts the Multicriteria Decision-Making (MCDM) model, incorporating both technical as well as business perspectives for mobile payment implementations. This is illustrated with a case study from the retail industry that adopts the framework for its mobile payment venture. The findings of the study are also discussed.