Cell me the money: unlocking the value in the mobile payment ecosystem

This report examines the challenges and benefits of mobile commerce in the United States. The report is based on a survey of senior executives from the mobile payment value chain. Survey results shed light on the key barriers that have traditionally challenged the mobile payment market in the United States, including the lack of revenue-sharing agreements, a dearth of consumer knowledge, low levels of demand and competing platforms in a fragmented market. Getting ahead of the curve will require companies to develop mutually beneficial business models and take advantage of further innovations made on the mobile platform. Ultimately, mobile carriers and financial institutions must come to the table and sacrifice in the short-term to create an opportunity to win big down the road

Extending UTAUT2 To Explore Consumer Adoption Of Mobile Payments

There is a growing interest in studying the adoption of m-payments but literature on the subject is still in its infancy and no empirical research relating to this has been conducted in the context of the UK to date. The aim of this study is to unveil the current situation in m-payment adoption research and provide future research direction through the development of a research model for the examination of factors affecting m-payment adoption in the UK context. Following an extensive search of the literature, this study finds that 179 relationships between independent and dependent variables have been analysed by 30 existing empirical m-payment and m-banking adoption studies. From analysis of these relationships the most significant factors found to influence adoption are uncovered and an extension of UTAUT2 with the addition of perceived risk and trust is proposed to increase the applicability of UTAUT2 to the m-payment use context

A Meta Analysis on Adoption of Mobile Financial Services

During the last decade, there has been tremendous growth in mobile penetration in many countries across the globe including a number of developing countries. The total number of mobile subscription 5 billion by the end of 2010 and is further expected to grow multi-folds. On the other hand, around 2.5 billion adults worldwide do not have a savings or credit account with either a regulated bank or alternative financial institution (such as a microfinance institution). Around one billion people in emerging markets have a mobile phone but no access to banking services. This scenario has opened immense opportunities for organizations including banks, insurance companies and telecom operators to strengthen their customer base and increase revenue by providing various financial services to the consumers through mobile technology. Hence, it becomes very important to understand the factors that would act as drivers or inhibitors towards the adoption of mobile financial services (MFS). Quite a few studies have been conducted across the globe to determine the factors affecting adoption of MFS. This paper provides a Meta analysis of the existing academic literature on MFS and determines the strength of the factors and their linkages through a scoring model based on the type of publication. The findings of the study would be beneficial for further research in understanding the dimensions to be considered for developing adoption model for MFS. The findings can also be used by the practitioners involved in MFS in understanding the factors affecting demand for such services.

The intention to use mobile digital library technology: A focus group study in the United Arab Emirates

IGI Global (“IGI”) granted Brunel University London the permission to archive this article in BURA (http://bura.brunel.ac.uk).This paper presents a qualitative study on student adoption of mobile library technology in a developing world context. The findings support the applicability of a number of existing constructs from the technology acceptance literature, such as perceived ease of use, social influence and trust. However, they also suggest the need to modify some adoption factors previously found in the literature to fit the specific context of mobile library adoption. Perceived value was found to be a more relevant overarching adoption factor than perceived usefulness for this context. Facilitating conditions were identified as important but these differed somewhat from those covered in earlier literature. The research also uncovered the importance of trialability for this type of application. The findings provide a basis for improving theory in the area of mobile library adoption and suggest a number of practical design recommendations to help designers of mobile library technology to create applications that meet user needs

Adoption of Mobile Financial Services among Rural Under-Banked

During the last decade, there has been tremendous growth in mobile penetration in many countries across the globe and most interestingly in a number of developing countries. On the other hand around, half of the world’s population is deprived of banking and financial services. This paper is based on a study that was aimed to identify drivers and inhibitors for adoption of MFS among the rural under-banked population and to compare the same with that of the existing studies. During the study, an extensive review of literature was conducted to identify the factors that were studied and found significantly affecting the adoption of mobile financial services. This was followed by an exploratory qualitative research conducted among the rural under-banked population of three distinct states in India. The findings of the study indicate that the demand for banking and financial services and the amount of hardships faced in availing these services through the existing channels of delivery can act as strong drivers for MFS adoption among the rural under-banked. On the other hand, factors like lack of trust on technology and lack of technology readiness were found to act as barriers to the adoption of MFS.

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

Understanding the usage of Mobile Payment Systems- the impact of personality on the continuance usage

Payment convenience has benefited from the revolution in mobile technologies. M-payment users, however, seem inconsistent in their payment activity, resisting change from traditional payment methods. Ensuring consumer continuance of m-payment technology usage is critical to ensuring the ubiquity of m-payment solutions. Although research has examined the influence of individual difference on the acceptance of m-payment, most studies fail to consider whether ongoing acceptance is maintained by the user, or whether a change in perception occurs as a result of use. Moreover, current studies consider user demographic profiles to segment mobile users, yet this dismisses the impact of individual difference, e.g. personality or cognitive style. This paper proposes a model that can be used to investigate the impact of individual difference on user perception of m-payment systems. The Expectation Confirmation Model (ECM) and Unified Theory of Acceptance and Use of Technology (UTAUT2) model factors (i.e. effort expectancy, performance expectancy, social influence, facilitating condition, habit, hedonic motivation, price value, trust and perceived risk) allow capture of data relating to two use perceptions; pre- and post-usage perception. The proposed model allows capture and comparison of pre-usage expectation and post-usage beliefs, allowing consideration of perception variance as a result of technology use. This model will be applied to gain a deeper insight into how to address users’ satisfaction, acceptance, and continuance usage of Near Field Communication m-payment technologies

Security Risk Tolerance in Mobile Payment: A Trade-off Framework

Security is identified as a major barrier for consumers in adopting mobile payment. Although existing literature has incorporated security into the Technology Acceptance Model (TAM), the Unified Theory of Acceptance, and the Use of Technology (UTAUT) and it has investigated the way in which security affects consumers’ acceptance of mobile payment, security is a factor only in diverse research models. Studies of mobile payment that focus on security are not available. Additionally, previous studies of mobile payment are based on Direct Carrier Billing- (DCB)-based mobile payment or Near Field Communication- (NFC)-based mobile payment. The results regarding security might not be applicable to Quick Response (QR) code-based mobile payment, the format that has become prevalent in recent years. As such, this study focuses on security of using mobile payment and develops a benefit-cost appraisal and a trade-off framework by integrating the Theory of Reasoned Action (TRA), the Theory of Planned Behavior (TPB), the Protection Motivation Theory (PMT), and the Rational Choice Theory (RCT). Particularly, this study introduces security risk tolerance into mobile payment study and sets it as the dependent variable. This study proposes that consumers’ security risk tolerance is shaped by their benefit-cost appraisal and their tradeoff process, regarding the use of mobile payment. Based on an online survey that collected data from 324 respondents in China, this study empirically tests and validates the research model. The findings suggest that consumers’ perceived benefit in using mobile payment is positively related to their security risk tolerance, whereas their perceived cost of using mobile payment is negatively related to their security risk tolerance. Convenience, safety, and savings positively affect consumers’ perceived benefit. The security threat positively affects consumers’ perceived cost. Payment tradition moderates consumers’ benefit-cost appraisal and trade-off process, but normative beliefs do not have a significant moderating effect. Self-efficacy only moderates the relationship between consumers’ perceived cost and their security risk tolerance. This study finds that males and females complete their benefit-cost appraisal and their trade-off process regarding security of using mobile payment very similarly. Gender differences only exist in the relationship between savings and consumers’ perceived benefit of using mobile payment

Understanding User’s Switching Intention on Mobile Payment Platforms

With the development of mobile payment (m-payment) service, the competition accordingly increases among m-payment market. Users face multiple choices when adopting m-payment services. It is critical for both scholars and m-payments providers to understand what the underlying factors can influence user’s switching from one incumbent m-payment platform to another. To solve this question, we employ a push-pull-mooring (PPM) framework to build the research model. We propose that user’s dissatisfaction on incumbent m-payment provider is the main push factor for user’s switching. The attractiveness of alternative and peer influence are the pull factors influencing user’s switching. Cognitive lock-in, as the mooring factor, could influence switching intention directly. Additionally, we posit that cognitive lock-in can moderate the effects of both push and pull factors on user’s switching intention. This study will use survey methodology and structural equation modelling approach to test the hypotheses