Abstract
Younger generations comprise an essential segment for the mobile payment market to prosper. However, empirical evidence of the drivers/barriers of the young generation’s adoption of mobile payment has been inconclusive. This study intends to advance the body of knowledge on this subject based on the extended Unified Theory of Acceptance and Use of Technology (UTAUT), incorporating the young generation’s risk perception and bonus/rewards provided by the mobile-pay firms. To this end, 295 samples with the majority being more tech-savvy, namely generation Y and generation Z, were collected from an online survey in Taiwan. The empirical results in this study demonstrate the uniquely positive effect of social influence on the young generations’ behavioral intention to adopt mobile payment. While behavioral intention and promotional activities are the drivers of the young generation’s actual usage of mobile payment, perceived risks are found to exert a negative impact, reflecting the risk-averse preferences of the young generation in Taiwan. The ignorable moderation effect of gender, on the other hand, suggests the absence of a gender gap in the use of mobile payment among the young generations. The findings in this research have important implications for the development of promotion programs motivating the young generation’s adoption of mobile payment.
Highlights
One of the most striking examples of the utilization of electronic commerce in the time of the Covid-19 crisis is communication
It is not too exaggerated to say that electronic commerce has enabled the survival of numerous businesses all over the world, and has supported various personal needs, as well as public functions
In the time of the Covid-19 quarantine, electronic commerce remains the sole source of various types of communication addressing both business and personal needs
Summary
One of the most striking examples of the utilization of electronic commerce in the time of the Covid-19 crisis is communication. The Covid-19 epidemic has strongly affected the lives and economies of the countries all over the world, generating numerous challenges for private, public, and business entities. People stayed virtually connected due to the abundance of various electronic commerce solutions.
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