Mobile Payment Service Providers Research Articles

Investigating the Components of Perceived Risk Factors Affecting Mobile Payment Adoption

As smartphone ownership rapidly expands, mobile payment options are gaining popularity due to the portability and convenience they offer. This study examines attitudes towards adopting mobile payment, focusing on the component risk, which consists of multiple dimensions including performance, financial, time, psychological, and social risks. The study uses a quantitative approach, collecting data through a survey distributed to mobile payment users, with 361 respondents in the United States. The survey instrument includes measures of performance and psychological risk, as well as attitudes towards mobile payment acceptance. Data analysis using SPSS 25.0 and AMOS 24.0 reveals that both performance and psychological risk significantly negatively impact attitudes towards mobile payment acceptance, underscoring the importance of mobile payment service providers implementing effective risk management policies to improve users’ positive attitudes towards their platforms.

Following the herd? An empirical investigation into the adoption of mobile payment systems

PurposeThe adoption of mobile payment remains low in certain regions, highlighting the need to identify the factors that enable and inhibit its adoption. This study aims to address this gap by investigating the role of information security, loss aversion and the moderating influence of the herd effect on Inertia and behavioral intentions in the adoption of mobile payment systems.Design/methodology/approachA structural equation model was developed and tested with 332 valid questionnaires to examine the proposed hypotheses.FindingsThe empirical results reveal that information security plays a significant role as an enabler, while loss aversion acts as an inhibitor of mobile payment adoption. Furthermore, the study uncovers the moderating influence of the herd effect on the relationship between Inertia and behavioral intentions.Research limitations/implicationsThis study was conducted in a specific region and may not be generalizable to other regions. Future studies could expand the sample size and scope to enhance the external validity of the findings.Practical implicationsThis study offers practical implications for mobile payment service providers. Understanding the key enabling and inhibiting factors identified in this study can guide providers in designing and improving their services. Strengthening information security measures can help build trust among potential adopters, while offering incentives can mitigate the impact of loss aversion and encourage early adoption.Social implicationsThe findings of this study have social implications as they contribute to promoting the adoption of mobile payment systems. Increased adoption can enhance financial inclusion and stimulate economic development.Originality/valueThis study provides novel insights into the enabling and inhibiting factors of mobile payment adoption and highlights the moderating role of the herd effect. By shedding light on the influence of social norms on individual behavior in the context of mobile payment adoption, this study contributes to the existing literature and advances our understanding of this phenomenon.

The Influence of Personal Innovativeness, Perceived Usefulness, Perceived Ease of Use, and Trust on Intention to Use Mobile Payment

Because of technological advances, the role of cash as a means of payment began to shift and was eventually replaced by digital payments. Quick Response Code Indonesian Standard is one of the digital payment methods developed in Indonesia (QRIS). The goal of this study is to determine what factors influence people's intentions to use QRIS as a mobile payment in Indonesia, as measured by personal innovativeness, perceived usefulness, perceived ease of use, and trust. Non-probability sampling was used in this study. Researchers collected data from 241 respondents by distributing questionnaires online via Google Form. The measurement scale used in this study is a linear scale. SEM-PLS is used to process data. According to the findings of this study, perceived usefulness, perceived ease of use, and trust influence the intention of Indonesians to use QRIS, whereas personal innovativeness has no effect. As far as researchers are aware, there are still few studies that specifically discuss the phenomenon of increasing QRIS transaction volume in Indonesia in general, so this research is expected to contribute to the advancement of business and management science. The findings of this study suggest alternative strategies for mobile payment service providers in countries with similar characteristics.

Understanding perceived risk factors toward mobile payment usage by employing extended technology continuance theory: a Vietnamese consumers’ perspective

PurposeThis study aims to examine the impact of perceived risk dimensions, confirmation, perceived usefulness and perceived ease of use on user satisfaction and their continuance intention to use mobile payments across Vietnam based on the extended technology continuance theory (TCT).Design/methodology/approachThis study used an online questionnaire-based survey design to collect data from 417 respondents using judgmental and snowball sampling techniques. The respondents in this survey are personal users of mobile payments across Vietnam. Data analyses and hypothesis testing were carried out using the partial least squares structural equation modeling.FindingsThe findings demonstrate that physical risk, time loss risk, opportunity cost risk, confirmation, perceived ease of use and perceived usefulness are important elements influencing consumers’ satisfaction toward continuance intentions to use mobile payment services. Satisfaction is also significantly associated with continuance intentions to use mobile payments across Vietnam. Other relationships, including functional risk, social risk, financial risk and information risk are not significantly related to satisfaction. These results are expected to be useful for mobile payment service providers. Understanding the factors mentioned in this study enables mobile payment service providers to improve their offerings strategically and then motivate their clients to keep using mobile payments.Originality/valueThe work is among the very few bodies of empirical research to investigate the continuance intention to use mobile payments using the extended TCT by incorporating the various dimensions of perceived risk construct in the fintech sector to develop a research model for this study. Furthermore, combining with perceived risk dimensions, this study expands the TCT model’s mobile app to the fintech sector, and advances the understanding of the use of the extended TCT in the fintech sector and adds to the theory.

Usage Analysis of Mobile Payment System to Consumer Continuance Intention in Jabodetabek

This research aims to study the continuous intention of mobile payment usage using the Technology Acceptance Model (TAM) theory with the extended model using perceived trust and subjective norms. A survey conducted through 25 questions questionnaire using a 5-point Likert scale with a total of 158 respondents was obtained by multiplying indicators by 6, with SEM-PLS method using SmartPLS 4.0. The analysis shows that perceived satisfaction significantly affects continuance intention to use mobile. The effect of subjective norms on continuance intention to use mobile payment is significant, and perceived ease of use and perceived usefulness have shown a positive relationship to perceived satisfaction. The perceived trust does not significantly affect the continuance intention to use mobile payment. In the previous study, continuance usage of mobile payment is conducted in South Africa, which is a gap in people's finances. The main limitation of this research is the limited data and a very diverse profile of respondents, which may have needed to be more fairly represented in this study. These results suggest that the mobile payment service provider effectively improves customer satisfaction. Gaining more trust in many aspects to make customers use mobile payment continuously. Perceived satisfaction has a positive relationship to keep the continuance intention to use mobile payment systems.

Examining the Influencing Factors of Customer Loyalty in Mobile Payment: A Conceptual Model and Research Propositions

Along with the rapid advancement of mobile internet technology in recent years, the mobile payment industry has witnessed tremendous development and greatly changed people’s lives. The rapid development of mobile payment has attracted hundreds of participants who want to cut a slice of the cake, thus leading to unprecedented fierce competition. To ensure sustainability and success, mobile payment service providers need to find strategies to retain existing users and achieve customer loyalty. This research aims to examine the different factors that impact mobile payment users’ loyalty. This paper proposed a research framework by integrating two fundamental consumer behavior theories, the cognitive-affective-behavior (CAB) model and the theory of consumption values (TCV). Our study fills the knowledge gap in lacking post-adoption stage consumer behavior research in the mobile payment context. It is among the few studies that examine mobile payment customer loyalty from a multi-dimensional value perspective. A quantitative research method is designed and partial least squares structural equation modeling technique (PLS-SEM) will be adopted in the future data analysis stage to validate the developed framework. The expected findings of this study would unveil the factors that would best predict the loyalty of mobile payment users. These findings would enable mobile payment service providers to identify the specific consumption values that determine mobile payment users’ loyalty, thus guiding them to develop strategies to cultivate customer loyalty accordingly.

Factors Influencing Continuous Intention to Use Mobile Payment Platforms in Southeast, Nigeria

This study centers on the factors influencing the continuous intention to use mobile payment platforms in south-east, Nigeria. Although the extant literature is gorged with studies on mobile payment technology adoption behaviour, empirical investigations that examine the predictors of continuous use of mobile payment platforms in a typical developing economy with huge informalities is lacking and under-reported. The broad objective of this study is to empirically investigate the factors that influence the continuous use of mobile payment platforms in South-east, Nigeria. In order to achieve this objective, positivism was adopted as the research philosophy while the area of study comprised Enugu city, Awka, Umuahia, Abakaliki and Owerri. The study population comprised active users of mobile payment platforms. The sampling technique adopted was quota sampling and a sample size of 600 respondents was statistically determined using Bill Godden Formular. The research instrument was questionnaire; validity test of the instrument was done using face and content validity while the reliability test was conducted using Cronbach’s alpha coefficient. The hypothesized relationship was tested using Multiple Linear Regression. It was found out that effort expectancy, social influence, facilitating conditions, intrinsic motivation and prior experience were positively significant to continuous intention to use mobile payment platforms while performance expectancy and price value are not. It was concluded that when used for predicting continuous intention to use mobile payment platforms in the innovation marketing field, the unified theory of acceptance and use of technology should be extended to include variable such as prior experience. It was recommended that mobile payment service providers should design and develop incentives that will encourage frequent usage, they should use social media influencers among others.

PENGEMBANGAN MODEL UNIFIED THEORY OF ACCEPTANCE AND USE OF TECHNOLOGY UNTUK PENGGUNAAN ADOPSI MOBILE PAYMENT

The retention of SMEs customers is of utmost importance for mobile payment service providers, particularly those who utilize mobile payments. Indonesia experienced a significant increase in the usage of mobile payment methods during the COVID-19 outbreak. Among the commonly utilized theoretical models in the Indonesian context of M-Payment payments, the Unified Theory of Acceptance and Use of Technology (UTAUT) model stands out. This proposed model is an expanded version of the UTAUT model, incorporating additional limited factors. It encompasses six variables that consider the diverse risks and costs perceived by users. The objective of this research is to analyze consumer behavior towards mobile payment systems using the UTAUT model and identify the determinants that consistently yield significant results. Data was successfully collected from 276 SMEs customers across various regions who utilize mobile payments through ShopeePay. The proposed model applies a minor segment structure using a regression seller model approach (SEM-PLS). The findings reveal that performance expectations, effort expectations, social influence, facilitation conditions, perceived risk, and perceived costs are the most influential predictors of users' intention to use the mobile payment system. Furthermore, behavioral intentions significantly influence actual usage behavior. The conclusion drawn from this research is that it enhances our understanding of the factors that determine the adoption of the mobile payment system, particularly in Indonesia.

The Roles of Personal Innovation and Task Technology Fit in Mobile Payment Retention

Purpose - This research aims to investigate the continuance intention of mobile payment services in Thailand based on the perceived innovativeness (PI) and task-technology fit (TTF) theories. The high attrition rate of mobile payment services in the market and lack of studies exploring the effect of personal attributes on continuance intention motivate the research.
 Design/Methodology/Approach - 544 Thai mobile payment users were surveyed. Relationships between mobile technology skills, perceived usefulness of mobile payment services, perceived ease of use, PI, TTF, and continuance intention were analyzed using structural equation modeling (SEM).
 Findings - The results indicate that perceived usefulness is the primary antecedent for TTF. Both TTF and PI were also found to have a significantly positive effect on the increase of continuance intention to use mobile payment services. Moreover, PI was found to have a strong negative moderating effect on the relationship between perceived task-technology fit and the continuance intention of using mobile payment services.
 Research Implications - The findings provide important insights for mobile payment service providers on how to effectively target users and increase the intention to continue using mobile payment services.

Influencing factors of customer loyalty in mobile payment: A consumption value perspective and the role of alternative attractiveness

The rapid development of mobile payment has attracted many competitors and made customer retention a crucial issue for mobile payment service providers. This study examines the influencing factors of mobile payment loyalty from a multi-dimensional value perspective by extending and integrating the Cognitive-Affective-Behaviour (C-A-B) model and the Theory of Consumption Values (TCV). We also incorporate alternative attractiveness as a moderating variable to reveal the potential influence of the competitive market environment. This study collected 427 questionnaires from mobile payment users in China. The empirical study results show that customers’ loyalty is determined by satisfaction, and satisfaction is influenced by functional, emotional, epistemic, and monetary value. The findings also demonstrate that satisfaction has mediated the consumption values and loyalty relationship, and alternative attractiveness has weakened the influence of satisfaction on loyalty. This study shifts the focus in mobile payment research from adoption to the post-adoption stage and establishes a new research model by integrating two fundamental theories in explaining customer behaviour. Our study could guide mobile payment providers to cultivate customer satisfaction and loyalty by determining the values that are worth investing in their marketing strategies and help them notice and neutralise the weakening effect of competitor attractiveness.

Examining the Determinants of Continuance Intention to Use Mobile Payment Service

Innovation in finance and advances in payment sytems are very important to boost remittances and encourage the successful development of electronic businesses around the world. Thus, many leading companies use mobile payment services to improve the customer experience of their customers. This study aims to identify the factors that influence consumers to continue using mobile payment in Indonesia. Several influencing factors include Service Quality, Perceived Ease of Use, Security, Perceived Usefulness, and Trust. This research was conducted in Madiun City, one of the big cities in Indonesia, with a total of 176 respondents. The study results can help mobile payment companies understand factors that are relevant to increasing volume usage in the context of merchants. The findings of this research is Continuance Intention influenced by Trust. Trust is significantly influenced by the independent variables such as Service Quality, Perceived Ease of Use, Security, and Perceived Usefulness. However, perceived risk has no significant effect on continuance intention. Therefore, mobile Payment service providers should be able to implement action plans related to the quality of their services, user experience to customers, security of an application, and the functions and features implemented by a Mobile Payment. Hopefully those things will generate trust in customers to continue to use Mobile Payment services.

Adoption of Mobile Commerce and Mobile Payments in Ghana: An Examination of Factors Influencing Public Servants

Aim/Purpose: Mobile commerce adoption is low in developing countries; hence, public servants may not consider mobile commerce and mobile payments. Understanding the factors that influence mobile commerce and mobile payments in their context will aid in promoting those services. Background: The study investigates the factors that influence public servants’ mobile commerce and mobile payments in Ghana. Hence, it provides some understanding of the various aspects of mobile commerce and mobile payments adoption, such as acceptance, use, and eventual adoption into the user’s daily life, and how that affects their behaviour. Methodology: The research was conducted by surveying the factors influencing public servants’ adoption of mobile commerce and payments in Ghana. A cross-sectional survey was undertaken to put the research model to the test to measure the constructs and their relationships. Contribution: The study confirmed previous findings and created a new conceptual model for mobile commerce and mobile payment adoption and usage in the Ghanaian context. Findings: The variables of performance expectancy, trust, and facilitating conditions have a significant positive influence on behavioural intention. The factors of effort expectation and social influence have a significant negative impact. Price value and perceived reliability are latent variables that do not affect behavioural intention. Behavioural intention and facilitating conditions significantly influence the actual use behaviour of mobile commerce and mobile payment users. Recommendations for Practitioners: Mobile commerce is emerging as a new mode of transactions, with firms providing enabling platforms for users. Mobile commerce could become the most acceptable application for the next generation of mobile platform applications. This study offers insights into the fluidity of the mobile environment, with implications that spell out what will be effective mobile commerce services that will continue to be relevant. Mobile applications are attractive to people because they provide a better user experience. These mobile applications have been optimised to provide a fast, easy and delightful experience. Mobile commerce and mobile payment service providers can attract and retain more users if attention is paid to performance expectancy, trust, and facilitating conditions since they influence individuals’ decisions to adopt. Mobile technology is almost ubiquitous, influencing both online sales and in-store sales. With the right mobile commerce platform and features, businesses can expect to increase in-store and online sales, catering to a more extensive clientele. Mobile devices are the primary means that most customers use to look up information about products they see in stores, such as product reviews and pricing options. This study indicates that mobile commerce service providers can achieve a more extensive customer base by promoting performance expectancy, trust, and behavioural intentions. Recommendation for Researchers: Despite the numerous studies in the mobile commerce literature, few have used integrated models of perceived reliability, trust, and price value or methods to evaluate these factors in the emerging mobile commerce industry. Also, it combines mobile commerce and mobile payments, which very few that we know of have done. Impact on Society: Ghana is already in a cash-lite economy. Thus, the study is appropriate with the result of trust being a significant factor. It implies that people will begin using mobile commerce and mobile payments with a bit of drive to bring about this drive quickly. Future Research: Future research could further test the adapted model with moderating factors of age, gender, and education to delve deeper into the complexities of mobile commerce and mobile payments.

The Use of Mobile Payment Systems in Post-COVID-19 Economic Recovery: Primary Research on an Emerging Market for Experience Goods

This study investigated whether mobile payment services could drive post-COVID-19 pandemic recovery in the ‘experience goods’ sector (e.g., tourism) utilising Bandura’s self-efficacy or social cognitive theory. It explored the factors influencing the intention to continue using mobile payment services and the intention to recommend these to others. An empirical survey was conducted to assess the study variables, and the data obtained therefrom were analysed using the industry-standard Cross-Industry Standard Process for Data Mining method. The study results suggest that personal innovativeness and perceived trust influence consumers’ intention to continue using mobile payment services and that perceived trust, personal innovativeness and outcome expectancy influence consumers’ intention to recommend the use of such services to others. The research findings have filled a research gap in emerging markets and can serve as the basis for formulating a winning marketing and operational strategy for nascent technologies such as mobile payment services. It would be naïve to extract findings from mature markets such as East Asia, the European Union and the United States and to apply these to developing markets. In addition, this study’s investigation of the variables that can influence the intention to continue using mobile payment services and to recommend the use of these to others goes into the heart of the sustainability issue because the study’s findings can help mobile payment service providers sustain the use of their applications and thus also sustain the advantages as such.

The dimensions of trust:An investigation of mobile payment services in Taiwan

PurposeThis study aims to introduce the dimensions of mobile payment services trust from the perspectives of trust transfer as well as the unified theory of acceptance and use of technology 2 (UTAUT2). We established an integrated model to understand the formation and dimensions of mobile payment trust and continuous usage intention in Taiwan. Design/methodology/approach– An integrated model is proposed and validated with an online questionnaire survey in Taiwan. Furthermore, SmartPLS is employed to validate the proposed model and hypotheses. Findings-The results found upon analyzing responses from 683 participants reveal that the significant antecedents of overall trust include trust in mobile payment service providers, mobile devices, and merchants (R2 = 75%). Furthermore, overall trust has significant effects on performance and effort expectancies with regard to mobile payment. Finally, the determinants of continuous usage intention include overall trust, performance expectancy, effort expectancy, facilitating conditions, hedonic motivation, habit, and perceived value (R2 = 85%). Originality-“Trust” of mobile payment is a common concern for developing mobile payment. However, the literature review conducted for this study unearth different perspectives on studying the “dimensions” of trust in previous mobile payment research studies. Besides, many studies consider trust as a generic term as opposed to studying its specific dimensions. This study attempts to fill the above research gaps to facilitate further understanding of the proposed topic. Therefore, the main contribution of this study is to analyze the multiple dimensions and formations of trust in the context of mobile payment.

How Inclusive Digital Financial Services Impact User Behavior: A Case of Proximity Mobile Payment in Korea

Users’ payment behaviors have changed. The diffusion of mobile devices makes people suitable for proximity mobile payment (PMP) services without traditional payment. Existing mobile payment literature mainly focuses on the adoption and continuous usage behavior. Nevertheless, switching behavior on payment has received little attention, especially on why people switch from traditional payment to PMP. Thus, the purpose of this study is to investigate factors influencing users’ traditional payment–PMP switching to comprehend how these factors shape switching intention. To that end, we developed a traditional payment–PMP transition model based on the push–pull–mooring framework derived from migration theory. This study conducted a structural equation modeling analysis on 311 valid data. The findings indicated that a push factor drives users away from traditional payment in terms of dissatisfaction. The pull factors, including perceived substitutability and perceived usefulness, attract users to PMP. Furthermore, a positive mooring factor facilitates users’ switching intention to PMP in terms of perceived technical compatibility. The negative mooring factor, in terms of perceived risk, hinders users’ switching intention. However, another pull factor—perceived ease of use—failed to influence switching intention significantly. This study found some distinctions between mobile payment switching and mobile payment adoption. These findings provide pivotal insights for mobile payment service providers.

중국 소비자가 현금과 근접 모바일 결제 사이를 전환하는 이유는 무엇인가? PPM 프레임워크 관점을 중심으로

The emergence of proximity mobile payment technology is beginning to replace the circulation of cash, checks, and credit cards. Nevertheless, few studies have explored why consumers switch between cash and proximity mobile payment. In applying the push-pull-mooring framework, this study investigates consumers’ switching intention between cash and proximity mobile payment by exploring the enablers (push factors and pull factors) and inhibitors (mooring factors). The results showed that push factors, mainly dissatisfaction with cash payment, drive consumers away from using cash. Meanwhile, the pull factors, including utilitarian value and hedonic value, attract consumers to use proximity mobile payment. Mooring effects, in terms of inertia and security concerns, negatively affect consumers’ switching intention. However, this study found that nowadays, the social value is less likely to be the primary reason that attracts consumers to use mobile payment. Such understanding fills the gaps in the current literature under the mobile payment context. Prior studies have mainly paid attention to the adoption phase and the continuous usage phase but have neglected mobile payment switching. This study also assists mobile payment service providers in understanding consumers’ switching behaviors and implementing appropriate strategies for different user groups.

Mengapa Masyarakat Indonesia Terus Menggunakan Layanan Mobile Payment?

In Indonesia by 2007, Telkomsel launched TCash as the pioneer of mobile payment service provider. In the next year Indosat launched Dompetku and XL also offered the same service which is XL Tunai in 2012. The interesting part start when GoPay as the newcomer in mobile payment services had the same number of users with TCash. The great market value and the large number of players in the mobile payment business require service providers to understand and capture what consumers really need. Therefore, a model is developed which can represent post-consumer behavior using mobile payment services. This research used a set of questionnaire and valid data gathered from 200 samples from Bandung, Indonesia. We analyzed the data by Partial Least Square. The result shows that the model has a strong predictive power for measuring consumer behavior towards the use of mobile payment and all the hypotheses were accepted.

Determining the antecedents of mobile payment loyalty: Cognitive and affective perspectives

Abstract Retention of existing users is a crucial issue for mobile payment (m-payment) service providers. To determine the antecedents of m-payment loyalty, we developed a research model based on the Information System Success Model and the Stimuli-Organism-Response (SOR) framework, incorporating concepts of overall quality (information, service, and system quality), satisfaction, trust, and intimacy from both cognitive and affective perspectives. Empirical data were gathered from users who had prior m-payment experience, and the valid responses were used for analysis. The results show that m-payment loyalty is predicted directly by satisfaction and intimacy, and that intimacy, an accumulatively affective factor, is affected by trust. Satisfaction and trust, in turn, are determined by overall quality. Together, these results suggest that m-payment service providers should not only develop high-quality and technologically sophisticated products, but also value users’ emotions as the important resource in strategic management.

The Impacts of Facilitating and Inhibiting Factors on Usage Intention of Mobile Payment Services

ABSTRACT Mobile commerce has been booming with the development of mobile technology, which has made mobile payment services highly valued by mobile payment service providers and consumers. This study integrated facilitating factors (perceived transaction convenience, social influence, additional value, government support) and inhibiting factors (psychological risk, financial risk, privacy risk) to explore which ones influence users’ usage intentions to use mobile payment services. A research model was developed and empirically tested by using structural equation modeling (SEM) on datasets consisting of 602 mobile payment services users through an online survey questionnaire in Taiwan. Our findings show that the facilitating factors had a significant positive impact on usage intention, with the greatest impact from the factor of government support. Moreover, perceived risk had a significant negative impact on usage intention, with the greatest impact from the factor of financial risk. Therefore, this indicates that consumers take whether there is a financial loss in the process of using mobile payment service into consideration as the major factor to use it.

Mobile payment transaction on MSMEs

The rapid development of technology is driving changes in payment systems in transactions. One payment system is a payment system using a smartphone called Mobile Payment. We can pay attention to Mobile Payment service providers in Indonesia starting to target MSMEs as their target market. This is a very appropriate step considering a large number of MSMEs in Indonesia. This study aims to determine the acceptance of Mobile Payment at MSMEs. By investigating the factors that influence the intention to use Mobile Payment. This study uses descriptive qualitative methods and interpretive through observation, documentation, and interviews with informants. The informants in this study were the MSMEs Owner and Managers in Denpasar. Based on the results of the research conducted, it can be concluded that Mobile Payment has not been fully accepted by MSMEs in Denpasar. Consumers use Mobile Payment because they have partnered with the application, if for offline shopping consumers rarely use and use more cash. The results showed the Perception of Usefulness, Perception of Ease, Perception of Comfort, and Social Influence affect the acceptance of Mobile Payment at MSMEs in Denpasar.