Determinants of the consumer’s adoption of the next-generation mobile payments and banking: a case study of the Bakong system

Bunhov Chov and Phichhang Ou ()
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Bunhov Chov: Royal University of Phnom Penh
Phichhang Ou: Royal University of Phnom Penh

SN Business & Economics, 2022, vol. 2, issue 10, 1-38

Abstract: Abstract With technological advancement, the emergence of the Internet, e-commerce, and mobile phones, business operations, and financial transactions have transformed from traditional to contactless and digital methods, especially payment systems. To facilitate contactless payment in the digital economy, Fintech and Blockchain were adopted to benefit consumers in terms of convenience, efficiency, and security in payments and banking transactions. By embracing Blockchain, the National Bank of Cambodia launched the Bakong system, the next-generation mobile payment, and banking system. However, the awareness and consumption are still not very impressive for being newly launched. This research aimed to investigate the determinants of consumers’ adoption of the Bakong system. This research developed and tested a conceptual model of adoption of Bakong by extending the Technology Acceptance Model (TAM) with additional factors. This research was conducted on 348 respondents from Phnom Penh who are aware of the Bakong system, specifically the Bakong mobile app. The Statistical Package for the Social Sciences version 25 (SPSS 25) and Analysis of Moment Structures version 23 (AMOS 23) were used to analyze the data in this study. The empirical results reveal that the evident drivers of the intention to use the Bakong system are perceived trust, perceived usefulness, price value, perceived mobility, perceived personal innovativeness, and social influence. Perceived ease of use, perceived compatibility, and perceived mobility positively predict perceived usefulness. Perceived security has a positive effect on perceived trust, and perceived personal innovativeness positively influences perceived ease of use.

Keywords: Bakong system; Mobile payment and banking; Technology acceptance model (TAM); Social influence; Price value; Perceived compatibility; Perceived mobility; Perceived personal innovativeness (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s43546-022-00345-9

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