Acceptance of Internet of Things in Developing Countries: An Empirical Study Using Value-Based Adoption Model

Abstract

This study examines the acceptance of internet of things (IoT) in developing countries. The study adopted value-based adoption model (VAM) and integrated with perceived trust to examine mobile payment as the sample application of IoT. Convenience sampling technique was employed to identify the ideal areas for data collections. Mall intercept technique (MIT) was employed to collect a total of 430 valid cases from mobile payments users in mobile payment centers. Structural equation modeling (SEM) was employed to examine the paths of the hypothesized relationships. The findings show that usefulness, perceived trust, perceived value, and perceived fee have direct and significant influences on acceptance of internet of things in developing countries. Furthermore, perceived fee, technicality, and perceived enjoyment were also found to have significant effects on perceived value. The study has provided theoretical and practical implications to researchers and policymakers on how to increase consumption of IoT services in developing countries.