Factors driving NFC-based mobile payment adoption: the case of Peru

Abstract

Mobile payment services are positioning themselves as the drivers of digital transformation regarding means of payment in various countries. Therefore, the emerge of services that seek to facilitate transactions between businesses and customers is increasing. An example is mobile payment systems based on near field communication (NFC) technology, which is a relatively new service in Peru. The objective of this study is to identify the factors that influence the usage intention of this service. A research model including specific factors for this context such as physical risks and number of establishments, as well as technological features such as system availability, ease of use and technological risks, was developed based on the social cognitive theory. A total of 186 observations were collected through an online survey. Findings suggest that convenience, number of establishments, perceived physical risks, and perception of technological risks have a direct impact on the intention to use this mobile payment system, while system availability and ease of use present an indirect effect. Theoretical and managerial implications are also discussed.