Towards Understanding of Factors Influencing User Acceptance of Mobile Payment Systems

Abstract

M-payments, which refer to payments over a mobile device, have not taken off as fast as predicted. Their slow adoption rates raise many questions about what drives consumer behaviour. The aim of this study is to find out what influences the user acceptance of a new system. The user is seen here as the key to acceptance of a new m-payment procedure, hence the focus on understanding their motivations and attitudes. To predict acceptance, Technology Acceptance Model (TAN) has been extensively used in information systems. This study is based on the belief that TAM needs to be expanded and customized to suit specific characteristics of mobile payments. This paper draws from prior studies that used TAM fields related to mobile payments. Extensions of TAM in related fields are depicted. Analysis of suitability of various acceptance factors for mobile payments follows. The result of the analysis is a set of factors that are believed to influence the user acceptance of mobile payments: perceived ease of use, usefulness, mobility, cost, trust, and expressiveness measure each of these factors, multi-item scales using specific criteria are proposed. Further research will involve study and possible improvement of the measuring scales, as well as further empirical validation of the model. The proposed model illustrates the level of fulfilment of each of the six acceptance factors in an m-payment system, therefore predicts its adoption, as well as indicates areas of improvement