The Study of Factors on the Small and Medium Enterprises' Adoption of Mobile Payment: Implications for the COVID-19 Era

Abstract

The coronavirus disease 2019 (COVID-19) pandemic pushes people looking for shopping alternatives, seeking to avoid handling cash in favor of a safe and quick mobile payment. At this juncture, this paper examines the determinants of the adoption of mobile payment services among small and medium enterprises (SMEs) in China. The study proposes four-dimensional factors (business factors, technological competence, environment, and consumers' intentions) based on the literature review findings to understand the challenges of adopting mobile payment. A questionnaire is designed to solicit information from the participants. The findings reveal that business factors, technological competencies of SMEs in China, and the environment positively influence mobile payment adoption. Consumer intention has almost no influence on the adoption of mobile payment. Potential implications for the COVID-19 era are also discussed.