Abstract
The technology acceptance model (TAM) has been regarded as a promising model for understanding technology adoption and can be extended to different situations. Currently, mobile payment services have been widely applied in people’s daily lives in China, and understanding their critical success factors is becoming important. Mobile payments are a complex system, and a large number of factors affect their success. Since mobile payments are directly related to financial issues, their wide adoption relies heavily on people’s trust. We developed a model based on the TAM to investigate the most influential factors in building trust within the mobile payment context. We conducted an empirical survey and 373 samples were collected using a valid questionnaire from the users of the popular payment platforms in China—Alipay and WeChat payment. We found that government monitoring is the most significant factor of customer trust, followed by reputation, and security. Government monitoring directly influenced behavioral intention, was negatively associated with perceived risk and positively affected behavioral intention. Moreover, mobility, subjective norms, usefulness, ease of use, and perceived enjoyment impacts customer behavioral intention.
Highlights
The advent of mobile payment (m-payment) has become popular in China and has enabled the customer to complete various transactions regardless of time and place, compared with the conventional way of payment (Liébana-Cabanillas et al, 2017; Qasim & Abu-Shanab, 2016)
technology acceptance model (TAM) has been widely investigated in previous m-payment studies in China, to the best of our knowledge, no previous study has been conducted to investigate the government monitoring role to examine their impact on intention to adopt m-payment
The results show that perceived ease of use and perceived usefulness have a significant direct effect on behavioral intention in m-payment adoption, which has been proven in the community (Belanche et al, 2012)
Summary
The advent of mobile payment (m-payment) has become popular in China and has enabled the customer to complete various transactions regardless of time and place, compared with the conventional way of payment (Liébana-Cabanillas et al, 2017; Qasim & Abu-Shanab, 2016). It is a tool used to effect payments for services, goods, bills, and helps with other communication (Dahlberg et al, 2008). Mobile payment is a technical innovation, which represents a traditional method of payment, and it is defined as “any payment where a mobile device is used to initiate, authorize, and confirm an exchange of financial value in return for goods and services” (Au & Kauffman, 2008; Kim, 2010). The ultimate goal of m-payment is to master the time and place of the traditional payment and cash-centric payment (Katawetawaraks & Wang, 2011). Chinese mobile payment services benefit from third-party payment platforms, such as Alipay and WeChat pay (Huang, 2017; Katawetawaraks & Wang, 2011)
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