Determinants of Mobile Payments: An Empirical Analysis

Success of mobile commerce hinges on the availability of methods of payment that are secure, ubiquitously available, globally accepted, and easy-to-use. Mobile payment (mPayment) entails making payments using mobile devices such as wireless handsets, personal digital assistants, and other radio frequency (RF) and near field communication (NFC) devices. While mPayment is still in its infancy, its acceptance is likely to increase considerably in the coming years. In the United States, the acceptance of mPayment lags behind that of Europe and Asia. In the U.S, many experts believe that the next step in mPayment evolution is the development of a single-device and ubiquitous mPayment solution that offers consumers speed and convenience in both online and point-of-sale transactions. This paper identifies factors that influence consumer mPayment adoption in the United States using data gathered from 299 consumers. Further, the paper examines the relationships between adoption enabling factors and users’ demographic and digital lifestyle traits

Secure Mobile Payment Architecture Enabling Multi-factor Authentication

The rise of smartphones has led to a significant increase in the usage of mobile payments. Mobile payments allow individuals to access financial resources and make transactions through their mobile devices while on the go. However, the current mobile payment systems were designed to align with traditional payment structures, which limits the full potential of smartphones, including their security features. This has become a major concern in the rapidly growing mobile payment market. To address these security concerns,in this paper we propose new mobile payment architecture. This architecture leverages the advanced capabilities of modern smartphones to verify various aspects of a payment, such as funds, biometrics, location, and others. The proposed system aims to guarantee the legitimacy of transactions and protect against identity theft by verifying multiple elements of a payment. The security of mobile payment systems is crucial, given the rapid growth of the market. Evaluating mobile payment systems based on their authentication, encryption, and fraud detection capabilities is of utmost importance. The proposed architecture provides a secure mobile payment solution that enhances the overall payment experience by taking advantage of the advanced capabilities of modern smartphones. This will not only improve the security of mobile payments but also offer a more user-friendly payment experience for consumers

The Factors of Consumer Intension of Using Mobile Payment in Vietnam

Purpose: Within the context of emerging mobile technologies, Mobile payment or M-payment has been introduced as the new trend for payment methods bringing more value and convenience to consumers. However, the development of M-payment services is still quite timid in some Southeast Asia countries including Vietnam. This is also the reason and motivation for the author to do this research.   Theoretical framework: The goal of this study is to spot some factors that affect the use behavior (UB) of M-payment consumers in five major metropolises that were most influential on the economy in Vietnam.   Design/methodology/approach: A quantitative questionnaire was used to measure the responses of participants and Partial Least Squares (PLS) method was employed to analyze the collection data as well as test all hypotheses.   Findings: The results indicated that SI has been the important factor leading to the BI to use M-payment followed by SV and SC issues and BI also had a strong influence on the UB of consumers. Since M-payment is still in the infancy stage and is one of the most exciting mobile applications for the next few years in Vietnam, the identification of important factors concerning M-payments.   Research, Practical & Social Implications: To investigate the factors affecting UB of Vietnamese M-payment consumers, the researcher proposed a research model which analyzes the impact of various variables extracted from system quality (ST), service quality (SV), security (SC), social influence (SI) on behavioral intention (BI) to use and BI on M-payment UB.   Originality/value: This study will assist merchants and software developers to design and improve the systems and services to ensure the full acceptance and continuous use of the systems. Finally, a set of suggestions for the subsequent research works also was listed at the end of this study

Cash in the Trash? An Austrian Perspective on Mobile Payment Adoption

Despite offering many benefits to consumers, merchants, banks, and other providers, mobile payment still has not found widespread acceptance in Austria, for example, in 2015, 15% of Austrian consumers used the Internet or a mobile device for payments and 16% made contactless payments at least once a week. This study sheds light on this issue by taking a consumer perspective and investigating the factors that foster or hinder mobile payment adoption. Three popular user acceptance models were compared and in the end, a unified theory of acceptance and use of technologybased model (UTAUT2) was chosen. The developed model was composed of 12 factors (behavioral intention, utilitarian performance expectancy, hedonic performance expectancy, effort expectancy, social influence, facilitating conditions, perceived risk, perceived security, privacy concerns, trust, cost, personal innovativeness) and three moderators (age, gender, experience). The proposed model was tested using data from 158 Austrian consumers and analyzed with partial least squares structural equation modeling (PLS-SEM). The results showed that 68% of consumers’ intention to use mobile payments could be explained, making it a promising model in the mobile payment research area based on the baseline data. Perceived risk and hedonic performance expectancy are the greatest drivers with psychological risk (a lack of fit with one’s self-image) as the most important risk dimension. The results suggest that mobile payment possesses lifestyle characteristics and its usage needs to be fun in order for consumers to prefer it to cash and cards. Keywords: mobile payment adoption, unified theory of acceptance and use of technology, user acceptance models, partial least squares structural equation modelin

Exploring Mobile Peer-to-Peer Payment Adoption: The Effects of SNS and Native Mobile Banking Apps Usage

Mobile payments have been adopted as an essential payment channel due to the proliferation of mobile phones and mobile e-commerce. Mobile peer-to-peer (P2P) payment applications, on the other hand, is still in its infancy and have yet to see mass adoption. This study aims to explore the factors that influence the adoption of such mobile P2P payment applications by using a large scale data set based on users’ mobile application usage behaviors. The main initial findings reveal that the length of the session of traditional bank application usage significantly influences the adoption of mobile P2P payment applications. In addition, the amount of social network service applications used positively impacted one’s adoption of mobile P2P payment applications. These findings have important theoretical and practical implications for stakeholders of mobile P2P payment solution providers as well as intermediaries/banks who provide their own payment applications to their customers

Customer Satisfaction on the Use of QR Codes For Frozen Shrimp Products at PT. Kelola Mina Laut Based on the Theory of Stimulus Organism Response

Background – Customer satisfaction is very important for business continuity in a company. PT. Kelola Mina Laut (KML) is a fisheries industry that implements a defensive strategy for its marketing, namely by applying a QR code to traceability information of frozen shrimp products that provide added value for its customers. Aim – Identify and analyze customer satisfaction on the use of QR codes for frozen shrimp products at KML based on S-O-R theory (Usefulness, Acceptability, Feasibility, Perceived flow, and Customer Satisfaction). Design / methodology / approach – This study uses 7 (seven) people as informants, who are KML customers, and then analyzed using Miles and Huberman Analysis. Findings – Customer satisfaction on the S-O-R theory was tested when the customer said he was very satisfied using this QR Code system, the customer's feeling when using this traceability system was easy and positive when using the QR code. Customers think this system is feasible to use and can be recommended to other customers. Research implication – The results of this study are a means for researchers to add insight and knowledge about traceability systems using QR codes at KML shrimp processing unit in an effort to increase customer satisfaction.  Limitations – The QR code used contains information on the frozen shrimp product traceability system. The theoretical basis used is the S-O-R theory. The research location is in the KML Gresik, and test the validity of the data in this study using Source Triangulation

Technology Readiness in Customers’ Perception and Acceptance of M(obile)-Payment: An Empirical Study in Finland, Germany, the USA and Japan

In today`s mobile world there is a high potential for m(obile)-payment services, but the mere existence of such services does not mean that the market is ready for them. M-payment services must add value to attract new users. After years of research regarding technology acceptance (TA) of m-payment, the aim of this paper is to examine how technology readiness (TR) influences customers’ perception and acceptance of m-payment. TA of consumers in combination with TR is investigated for m-payment in Finland, Germany, the USA and Japan. We conduct an online survey to collect data in those four countries. We use that data to carry out a TA analysis using a structural equation model (SEM). The research model arises from the findings of a priori explorative study and a comprehensive literature review. Evaluation results based on an extended TA model (TAM) show that user acceptance of m-payment differs influenced by constructs

The impact of mfinance initiatives in the global south: a review of the literature

After more than two decades of research on technological interventions in the transition to information societies, the burgeoning of mobile phones in developing countries has shifted the information and communication technologies for development (ICT4D) research lens to the different domains of mDevelopment. While advances have been made in domains of mHealth, mGovernment, mBusiness and mEducation, mFinance initiatives have had impressive adoption upon implementation in certain geographic locations. Services such as M-Pesa have been widely reported in the mainstream press and form the test beds for various scholarly investigations