Current and Potential Users Adoption of Mobile Payment Technology in Nigeria

Abstract

Mobile technology advancement has significantly transformed the functionality of smartphones, into a one-stop-shop from conventional communication to wireless technology for purchase and transactions through mobile payment technology. The bond between the smartphone and the users in recent times has increasingly replaced the bond between the physical money wallet and the owner. Necessitating the need to adopt mobile payment service technology. Most empirical studies focus on single users in Europe, Asia, America among others, developing constructs that work in these technologically advanced nations. This study examines the impact of current users of mobile payment technology on potential user’sadoption in Nigeria. Developing constructs factors that impact on an individual’s intention to adopt m-payment technology services. The construct tests the behavioral intention of 40 current users and 330 potential users. The results revealed that 11% risk, 35% trust, 48% ease of use, 52% usefulness, 10% personal innovation and cost significantly influenced current users’ intentions while 27% Subjective norms, 34% self-efficacy, 10% personal innovation and cost, 35% trust, 11% risk and 52% usefulness serves as a stimulus to potential users’ intentions to adopt m-payment service in Nigeria. Recommendation there is need to integrate the construct into the strategies designed to promote the service adoption in Nigeria for future marketsby managers and mobile App developers in Nigeria.