A study of impact of the demographics on the adoption of technology-driven based payment techniques among Mom-and-Pop retail owners and consumers-in emerging markets

R.K. Srivastava

International Journal of Electronic Marketing and Retailing, 2024, vol. 15, issue 4, 479-500

Abstract: As a result of government initiatives, digital payment systems are becoming more popular in emerging markets. However, among Mom-and-Pop retail store owners and consumers, acceptance of technology-based payments is still a problem. Therefore, the purpose of the study is to examine the acceptance of technology-based payment among Mom-and-Pop retail (small retailers) owners, and consumers; patronising the same. A total of 488 participants in the consumer category and 220 participants in the retail category participated in this study. The perceived benefits will drive adoption at both the Mom-and-Pop level and the consumer level; however, younger consumers and store owners are more likely to experiment with different methods of digital payments than older ones. Therefore, the results of this study can assist mobile payment companies to understand how to increase adoption of mobile payment technology in the context of merchants and consumers of different ages. Combining Roger's theory of diffusion of innovations (Rogers, 2003) with Allingham's (2002) rational choice theory, the rational-adoption theory (R-A theory) is used to explain the comparative study of digital adoption mode of payment among owners and consumers.

Keywords: technology based payment; Mom-and-Pop stores; consumers; debit card; credit card; demographic variables; theory of diffusion of innovations; DOIs; rational choice theory. (search for similar items in EconPapers)
Date: 2024
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