Drivers and influencing factors in mobile payment acceptance

Abstract

The development and diffusion of smartphones has paved the way for several trends, among them an alternative payment solution in the form of mobile payment. Mobile payment is part of the overarching concept of mobile transactions, and experiences varied acceptance and adoption. This paper analyzes drivers and factors determining consumers' acceptance and adoption of mobile payment. For this reason, we examine the contribution of the two basic approaches, i.e. the "technology acceptance model" and the "unified theory of acceptance and use of technology" in the context of mobile payment. Based on empirical evidence, we identified several factors, which were found to have impact on primary adoption; a compelling user experience turned out to be the main driver of long-term usage.