Exploring the Factors Affecting Consumer Acceptance of Proximity M-Payment Services

Abstract

The purpose of this study is to analyze the factors determining consumers’ intentions to adopt NFC proximity mobile payment services (p-mps). An extended version of the Unified Theory of Acceptance and Use of Technology (UTAUT), a model that incorporates the most relevant theoretical approaches in the adoption literature was selected to investigate the consumers’ adoption process. To empirically test the proposed model, data were collected from 513 consumers of mobile internet service providers in Greece and were analyzed using PLS. The results indicated that p-mps features, expressed by consumers’ expectations about service performance and required efforts, along with the social context effects have the biggest impact on consumers’ intentions to use the service, followed by channel characteristics, reflecting consumers’ beliefs about p-mps usage risk and trust. Potential customers’ characteristics moderating analysis suggested that the effects of performance expectancy and perceived trust on behavioral intentions are affected by gender, age and previous experience, while that of social influence only by potential customers’ previous experience. Theoretical and managerial implications, limitations and suggestions for further research are provided at the end of the study.