Contactless Technology: what we know and what we don’t know

With the rise in the use of touchless systems and new technologies, which are rapidly replacing traditional means of payment such as cash, contactless technology is getting popular. As a result, the purpose of this research is to look at the principal factors of contactless technologies, what we know and what we do not know about the technology

Factors Influencing Consumer Acceptance of Mobile Payment during the COVID-19 Pandemic & Usage Continuance Intent: A Quantitative Study

The presence of COVID-19 has transformed the business sector’s paradigm and prompted a speedy consumption of mobile payment software systems of diverse ranges. Corporate sectors and businesses across the globe brought a shift to offer mobile payment methods; consequently, consumers were urged to maximize the use of mobile payment throughout the pandemic. The present research aims to investigate the factors that might influence consumers' intent to accept mobile payments and their relationships during COVID-19. The technology adoption model and the unified theory of acceptance and use of technology were employed in this proposed mobile payment adoption framework. A quantitative research approach was identified as a suitable method for this research. An online survey was administered, and 304 participants responded to the questionnaire. The results of the data analysis revealed statistically significant relationships and a positive impact of the factors perceived performance, social influence, consumers’ satisfaction, and perceived usefulness on consumers’ usage continuation intention. However, the results identified that factors such as transaction risk didn’t affect perceived usefulness, and financial transaction transparency didn’t affect consumers’ usage intention. This study makes a substantial contribution to the consumers’ technology acceptance literature in terms of validating a proposed theoretical framework that highlights the factors that influence consumers’ mobile payment usage intentions. As this study was conducted at a later stage of the COVID-19 pandemic, it adds value to the existing literature by providing insights to business managers on the factors influencing mobile payment usage. Considering the practical perspective, this study offers evidence of the essential elements that mobile payment service designers and marketers should consider. Doi: 10.28991/ESJ-2023-07-05-07 Full Text: PD

The factors that affect consumers intention to adopt near field communication mobile payment in supermarkets

The emergence of mobile technologies has changed the consumer’s life in many ways, especially the way they perform payment. This thesis examines the core drivers of using Near Field Communication (NFC) mobile payment in the supermarket industry from the consumer’s perspective. Based on the Technology Acceptance Model (TAM) and Innovation Diffusion Theory (IDT), the author developed a sevenfactor model to reveal the determinants of consumers’ intention to use Near Field Communication (NFC) mobile payment. Relative advantage, speed of transaction, compatibility with consumers’ lifestyles, security and awareness were added to the two-factor TAM model (usefulness and ease of use). Author evaluated the proposed model empirically, applying survey data gathered from supermarket consumers respect to their perceptions on Near Field Communication (NFC) mobile payment. Six significant factors found in this research can serve as guideline to encourage consumer adoption of Near Field Communication (NFC) mobile payment in supermarkets. Among which most of the respondents reported that relative advantage was not their primary reason in their decision to adopt the system. More over ease of use was significantly influenced by awareness of consumers and perceived usefulness influenced by speed of transaction which can be best explained by the fact that consumers would find the system useful if it provides them means to avoid long checkout lanes. Based on the findings of this research, marketing of new technologies must focus on creating awareness and gaining consumers trust to enable consumers to be easily familiarized with the Near Field Communication (NFC) mobile payment system

A mixed methods empirical exploration of UK consumer perceptions of trust, risk and usefulness of mobile payments

Exploring UK consumer perceptions of trust, risk and perceived usefulness of mobile payments through the use of sequential mixed methods

Leveraging Smart Technology for User Experience Personalization – A Comparative Case Study of Innovative Payment Systems

Background: This study seeks to understand how the attributes of smart technology (SMT) can be leveraged to enable personalized services and optimize unique user experiences to attract and retain customers. Based on Kang et al.’s (2020) study of SMT attributes and quality effects and Liang et al.’s (2006) study on personalized recommendation and user satisfaction, we constructed a SMT personalization model to analyze how the SMT attributes of smart functionality and smart content enable personalization in different ways and create unique customer experiences throughout the user journey. Method: Two representative payment systems were selected to depict how they integrated the strengths of personalized smart functionalities and contents to innovate their business models, optimize user experiences, and sustain business growth. Results: Based on the comparative analysis of the two payment cases, the functionality and content attributes of smart chips and omni-channel platforms were explored, and the tailored advisory and responsive support for customers both offline and online were validated. Conclusion: The life-enriching service innovations provide valuable insights for leveraging SMT for personalization. It is hoped that the SMT personalization model can be extended to other types of SMT applications and can be used as a framework for designing innovative services

Exploring UK consumer perceptions of mobile payments using smart phones and contactless consumer devices through an extended Technology Adoption Model.

Widespread adoption of mobile payments has not taken place despite a decade of trials in various countries based upon a mobile phone handset that does not have the technology capabilities of today’s smart phones. However, significant technology developments have led to widespread consumer adoption of smart phones and other devices that may now provide the foundation for wider consumer adoption of mobile payments. Understanding UK consumer cultural perceptions on the new phenomenon is one of the first steps to influencing purchase behaviour. This thesis is based upon a post-positivist philosophy and a social constructionist ontology that explores UK consumer perceptions of mobile payments through human cognitive and affective responses of consumer payment behaviour as these influence attitude that leads to adoption. However, UK consumer interest in mobile payments on its own is unlikely to be enough to change payment behaviour, although meeting specific payment needs can motivate consumers to amend their payment behaviour that can lead to widespread adoption. Inductive empirical research is used to explore UK consumer perceptions of mobile payments through sequential mixed methods. A questionnaire is used as the 1st research instrument with closed questions that explore various aspects of consumer interest in the mobile payments phenomenon. The key themes identified from the numerical analysis of the questionnaire data are used to guide the semi-structured interviews. Content analysis is then undertaken on the qualitative interview data from which new knowledge on consumer perceptions of mobile payments is identified. Analysis of the empirical data suggests that UK consumers have significant technology and security concerns which negatively affect consumer interest. Despite these concerns, UK consumers demonstrate interest in the mobile payments phenomenon when perceived usefulness benefits are identified. The perceived usefulness positively influences attitude that overcomes perceived risks which can lead to amended consumer payment behaviour and widespread adoption. In addition, UK consumers have a significant lack of trust towards unknown organisations as well as new market entrants although there is an increased level of trust in mobile payments provided by UK banks as well as other established organisations. This research fills an important gap in existing literature on consumer payment behaviour as it explores UK consumer cultural perceptions of the mobile payments phenomenon using smart phones and contactless consumer devices; whereas earlier consumer payment research is based upon a mobile phone handset that does not have the technology capabilities of today’s smart phones and has an Asian and Nordic cultural focus. Furthermore, this research provides UK empirical evidence that refines and extends existing research through the use of sequential mixed methods whilst adding to the understanding of UK consumer attitudes related to UK payment instruments.Page, Stev

The survey on Near Field Communication

PubMed ID: 26057043Near Field Communication (NFC) is an emerging short-range wireless communication technology that offers great and varied promise in services such as payment, ticketing, gaming, crowd sourcing, voting, navigation, and many others. NFC technology enables the integration of services from a wide range of applications into one single smartphone. NFC technology has emerged recently, and consequently not much academic data are available yet, although the number of academic research studies carried out in the past two years has already surpassed the total number of the prior works combined. This paper presents the concept of NFC technology in a holistic approach from different perspectives, including hardware improvement and optimization, communication essentials and standards, applications, secure elements, privacy and security, usability analysis, and ecosystem and business issues. Further research opportunities in terms of the academic and business points of view are also explored and discussed at the end of each section. This comprehensive survey will be a valuable guide for researchers and academicians, as well as for business in the NFC technology and ecosystem.Publisher's Versio

Modelling customers' intentions to use contactless cards

Since their introduction in the USA in 2002, contactless card payment systems have been widely regarded as the pinnacle of current retail banking technology. However, the potential demand and usage of this innovation has hitherto received little attention from the academic community. Ours is one of the first papers that explore the factors that are likely to govern acceptance and intentions to take-up the technology. The analysis utilises the methodological framework of the technology acceptance model (Davis, 1989; Davis et al., 1989) and develops a range of empirical representations. Our results lend support to the TAM conceptualisation and also indicate that some demographic characteristics imprint upon the intentions of potential users

Using contactless mobile payment in the Vietnamese restaurant industry

Purpose: Contactless Mobile Payment (CMP) is a technological innovation that shapes the future of service-related industries. This study develops a critical understanding of CMP in the context of consumer behaviour and explores its use in the Vietnamese restaurant industry. Methods: An online survey was used to collect the data (n=153) from Vietnamese consumers. Data analysis was conducted with the use of SPSS and AMOS software. A Confirmatory Factor Analysis (CFA) in conjunction with Structural Equation Modelling (SEM) were employed to explore consumer perceptions regarding the use of CMP. Results: The findings indicate that consumers find CMP a fast and convenient way to make transactions in Vietnamese restaurants. The findings also indicate the importance of ease of use and security. Implications: The study contributes to the understanding of consumer behaviour in regard to technology in the service industries context focused on the restaurant industry. The managerial implications of this study highlight a number of benefits for both consumers and businesses, such as efficiency, speed, and improved customer service; on the other hand, the potential of fraud poses a serious threat for both sides

Exploring Consumer Mobile Payment Adoption: A Multi-Country Study

The increasing popularity of mobile technologies is reshaping human activities including financial transactions. This research focuses on the use and acceptance of NFC-enabled proximity mobile payment (m-payment). This research builds on previous research highlighting the various factors influencing the use and acceptance of m-payment through the Technology Acceptance Model (TAM) and Diffusion of Innovation of (DoI). The results indicate a statistically significant relationship between compatibility, personal innovativeness, and behavioural intention to use m-payment. The findings of this study confirm the influence of external factors, i.e., compatibility and personal innovativeness, determines the end-users’ perceived usefulness and perceived ease of use of m-payment which subsequently determines their attitude towards using m-payment and the intention to use m-payment