Factors Facilitating Consumers Intention to Adopt Mobile Payments: In a Nation with Digital Acuity

Abstract

This thesis intends to identify the factors affecting mobile payment adoption intention by propositioning a conceptual framework based on the second model of the Unified Theory of Acceptance and Use of Technology (UTAUT). In addition to the UTUAT2 model three constructs were supplemented and the constructs were divided into ‘System-Centric factors’ and ‘User-Centric factors. This was done to more effectively evaluate what factors had the most impact in the user’s behavioural intention to adopt mobile payments in Denmark. The proposed research framework was then empirically tested via a concurrent mixed methods approach. Which involved collecting data from 91 survey respondents and using a structural equation modelling (SEM) technique for the analysis. Whilst simultaneously conducting four interviews with mobile payment experts, two industry professionals and two academic scholars. The subsequent analysis involved a series of thematic coding, which enabled a following comparison and contrast exercise. Both the quantitative and qualitative results exhibited (in order of the most impact), that the Performance Expectancy (PE), Perceived Security (PS), Effort Expectancy (EE), Facilitating Conditions (FC), Trust, and Personal Innovativeness (PI) constructs were all concluded to have a significant positive impact on behavioural intention to adopt mobile payment services. Alternatively, the two User-Centric factors Social Influence (SI) and Habit were concluded to not qualify as constructs that influence behavioural intention to adopt mobile payment services. The findings of this thesis also identified ‘Culture’ as a potential influencing factor on intention to adopt mobile payments services, presenting the opportunity for further research. In addition, the findings of this study contributed imperative theoretical findings that can be utilised to enrich the existing body of literature. Lastly, this thesis intended to offer practical managerial contributions through the identification of the most vital factors affecting behavioural intention to adopt mobile payment services. Which enables contemporary managers in mobile payment businesses to streamline and rationalise their future customer acquisition and retention strategies.