Consumers’ Willingness to Use Mobile Payments in Micro Business Transactions: Differences in Demographic Factors

Claudel Mombeuil ()
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Claudel Mombeuil: Rezo Inovasyon Edikatif Ayisyen (RINOVEDA)

Information Systems Frontiers, 2024, vol. 26, issue 4, No 14, 1495-1508

Abstract: Abstract This study investigates the factors affecting consumers' willingness to use mobile payment systems for micro-business transactions, in a context where mobile payments are predominantly used for peer-to-peer (P2P) remittance transfers. The study considers five variables: Perceived Risks, Perceived Costs, Lifestyle Compatibility, Comparative Advantage, and trust in the mobile payment ecosystem. The study also explores whether there are differences in willingness to use mobile payments based on gender, age, and frequency of using mobile payments for P2P remittance transfers. The study uses a sample of 476 respondents and employs a structural equation model. The results indicate that only lifestyle compatibility and trust in the mobile payment ecosystem have a significant influence on consumers' willingness to use mobile payments for micro-business transactions. Additionally, the study finds no significant differences in willingness to use mobile payments across gender, age, or frequency of mobile payment usage, except for the effect of perceived risks on occasional users, where the effect is negative and significant. Overall, the findings suggest that micro-businesses interested in adopting mobile payments should focus on creating a lifestyle-compatible and trustworthy ecosystem for their customers. The study's results also imply that occasional users of mobile payments may require additional reassurance to overcome perceived risks.

Keywords: Perceived risks; Perceived costs; Lifestyle compatibility; Comparative advantage; Trust in mobile payment ecosystem; Valence theory (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s10796-023-10421-6

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