Mobile Payment with Alipay: An Application of Extended Technology Acceptance Model

Abstract

In recent years, mobile payment as an innovative payment method has triggered a payment revolution in China. Understanding and investigating the psychological elements and influence paths that affect the user's willingness to use mobile payment are of great importance. The main purpose of this study is to investigate the effects of a user's risk perception, perceived ease of use, perceived usefulness, and attitude on a user's willingness to use Alipay, by using an extended version of the technology acceptance model (TAM). The model was tested with the use of structural equation modeling (SEM), and the data was collected from 491 users in China. The results show that perceived ease of use and perceived usefulness has a significant effect on users' attitudes and intentions to use Alipay, and the risk perception has a negative effect on perceived ease of use and perceived usefulness. Meanwhile, risk perception also has a direct effect on users' attitudes and intentions to use Alipay. These results suggested that when users perceived that the risks of using Alipay are higher, they will hold a negative attitude using Alipay and less likely to use Alipay. Based on these results, the possible implications have been identified.