IDEAS home Printed from https://ideas.repec.org/a/eee/tefoso/v161y2020ics0040162520311380.html
   My bibliography  Save this article

What hinders the usage of smartphone payments in Russia? Perception of technological and security barriers

Author

Listed:
  • Semerikova, Ekaterina

Abstract

Russia has become one of the largest markets for contactless transactions via smartphone wallets, however, the share of smartphone payments is still much lower than that of plastic cards. This research aims to understand how the perception of technological and security barriers impacts the probability of smartphone use for offline payments in Russia. The analysis uses a representative sample of 1016 Russian cardholders gathered via an online survey in 2019. The study shows that the perception of such barriers as the fear of losing one's smartphone, entering the smartphone password in public places and a slower payment process negatively impacts the probability of using a smartphone as a payment instrument in Russia. The results imply that there is a potential to lower at least the perceived security barriers to further smartphone payments adoption that appear due to the consumers’ lack of knowledge of how they work.

Suggested Citation

  • Semerikova, Ekaterina, 2020. "What hinders the usage of smartphone payments in Russia? Perception of technological and security barriers," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    • Handle: RePEc:eee:tefoso:v:161:y:2020:i:c:s0040162520311380
    DOI: 10.1016/j.techfore.2020.120312
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0040162520311380
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.techfore.2020.120312?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Krivosheya, Egor & Korolev, Andrew, 2018. "Benefits of the retail payments card market: Evidence from Russian merchants," Journal of Business Research, Elsevier, vol. 88(C), pages 466-473.
    2. Krivosheya, Egor & Korolev, Andrew, 2016. "Benefits of the retail payments card market: Russian cardholders' evidence," Journal of Business Research, Elsevier, vol. 69(11), pages 5034-5039.
    3. Arts, Joep W.C. & Frambach, Ruud T. & Bijmolt, Tammo H.A., 2011. "Generalizations on consumer innovation adoption: A meta-analysis on drivers of intention and behavior," International Journal of Research in Marketing, Elsevier, vol. 28(2), pages 134-144.
    4. Ekaterina Semerikova, 2019. "Payment instruments choice of Russian consumers: reasons and pain points," Journal of Enterprising Communities: People and Places in the Global Economy, Emerald Group Publishing Limited, vol. 14(1), pages 22-41, November.
    5. Linck, K. & Pousttchi, Key & Wiedemann, Dietmar Georg, 2006. "Security Issues in Mobile Payment from the Customer Viewpoint," MPRA Paper 2923, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Shaikh, Aijaz A. & Glavee-Geo, Richard & Karjaluoto, Heikki & Hinson, Robert Ebo, 2023. "Mobile money as a driver of digital financial inclusion," Technological Forecasting and Social Change, Elsevier, vol. 186(PB).
    2. Chatterjee, Sheshadri & Chaudhuri, Ranjan & Thrassou, Alkis & Vrontis, Demetris, 2022. "Social network games (SNGs) addiction: Psychological dimensions and impacts on life quality and society," Technological Forecasting and Social Change, Elsevier, vol. 177(C).
    3. Wan Rung Lin & Chun-Yueh Lin & Yu-Heng Ding, 2020. "Factors Affecting the Behavioral Intention to Adopt Mobile Payment: An Empirical Study in Taiwan," Mathematics, MDPI, vol. 8(10), pages 1-19, October.
    4. Semerikova, E., 2024. "Cashless payments beyond access: What influences the intensity of use?," Journal of the New Economic Association, New Economic Association, vol. 64(3), pages 171-188.
    5. Ayatulloh Michael Musyaffi & Razana Juhaida Johari & Christian Wiradendi Wolor & Amer Azlan Abdul Jamal & Anaya Zahra Santika & Muhammad Arifsyah Arifi, 2023. "The Innovativeness and Value of Quick Response Code Payment for MSMEs: The Influence of Security-Related Factor," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 89-107.
    6. Verkijika, Silas Formunyuy & Neneh, Brownhilder Ngek, 2021. "Standing up for or against: A text-mining study on the recommendation of mobile payment apps," Journal of Retailing and Consumer Services, Elsevier, vol. 63(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Krivosheya, Egor, 2020. "The role of financial innovations in consumer behavior in the Russian retail payments market," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    2. Kanokkarn Snae Namahoot & Ekkarat Boonchieng, 2023. "UTAUT Determinants of Cashless Payment System Adoption in Thailand: A Hybrid SEM-Neural Network Approach," SAGE Open, , vol. 13(4), pages 21582440231, December.
    3. Mombeuil, Claudel & Uhde, Helena, 2021. "Relative convenience, relative advantage, perceived security, perceived privacy, and continuous use intention of China’s WeChat Pay: A mixed-method two-phase design study," Journal of Retailing and Consumer Services, Elsevier, vol. 59(C).
    4. Egor Krivosheya & Polina Belyakova, 2019. "Financial innovations role in consumer behavior at Russian retail payments market," Proceedings of Economics and Finance Conferences 9511955, International Institute of Social and Economic Sciences.
    5. Mombeuil, Claudel, 2020. "An exploratory investigation of factors affecting and best predicting the renewed adoption of mobile wallets," Journal of Retailing and Consumer Services, Elsevier, vol. 55(C).
    6. Bensch, Gunther & Grimm, Michael, 2024. "Behavioural constraints in energy technology uptake: Evidence from real-purchase offers in rural Rwanda and Senegal," Ruhr Economic Papers 1081, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    7. Jonas Schmidt & Tammo H. A. Bijmolt, 2020. "Accurately measuring willingness to pay for consumer goods: a meta-analysis of the hypothetical bias," Journal of the Academy of Marketing Science, Springer, vol. 48(3), pages 499-518, May.
    8. Wenyao Zhang & Qingpu Zhang, 2017. "Exploring Antecedent Difference between Early and Late Adopters of Disruptive Innovation in E-business Microcredit Context: Evidence from China," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 14(06), pages 1-29, December.
    9. Petschnig, Martin & Heidenreich, Sven & Spieth, Patrick, 2014. "Innovative alternatives take action – Investigating determinants of alternative fuel vehicle adoption," Transportation Research Part A: Policy and Practice, Elsevier, vol. 61(C), pages 68-83.
    10. Sebri, Maamar, 2015. "Use renewables to be cleaner: Meta-analysis of the renewable energy consumption–economic growth nexus," Renewable and Sustainable Energy Reviews, Elsevier, vol. 42(C), pages 657-665.
    11. He, Yi & You, Ya & Chen, Qimei, 2020. "Our conditional love for the underdog: The effect of brand positioning and the lay theory of achievement on WOM," Journal of Business Research, Elsevier, vol. 118(C), pages 210-222.
    12. Milan Yadav & Subramanian Shanmugam, 2024. "Factors Influencing Behavioral Intentions to Use Digital Lending: An Extension of TAM Model," Jindal Journal of Business Research, , vol. 13(2), pages 213-226, December.
    13. Andreas Strebinger & Horst Treiblmaier, 2022. "Profiling early adopters of blockchain-based hotel booking applications: demographic, psychographic, and service-related factors," Information Technology & Tourism, Springer, vol. 24(1), pages 1-30, March.
    14. Park, Jungkun & Gunn, Frances & Lee, YoungHee & Shim, Scott, 2015. "Consumer acceptance of a revolutionary technology-driven product: The role of adoption in the industrial design development," Journal of Retailing and Consumer Services, Elsevier, vol. 26(C), pages 115-124.
    15. Guo, Yuntao & Souders, Dustin & Labi, Samuel & Peeta, Srinivas & Benedyk, Irina & Li, Yujie, 2021. "Paving the way for autonomous Vehicles: Understanding autonomous vehicle adoption and vehicle fuel choice under user heterogeneity," Transportation Research Part A: Policy and Practice, Elsevier, vol. 154(C), pages 364-398.
    16. Grahl, Jörn & Hinz, Oliver & Rothlauf, Franz & Abdel-Karim, Benjamin M. & Mihale-Wilson, Cristina, 2023. "How do likes influence revenue? A randomized controlled field experiment," Journal of Business Research, Elsevier, vol. 167(C).
    17. Dang, Ngoc Bich & Bertrandias, Laurent, 2023. "Social robots as healing aids: How and why powerlessness influences the intention to adopt social robots," Technological Forecasting and Social Change, Elsevier, vol. 196(C).
    18. Van Lancker, Jonas & Mondelaers, Koen & Wauters, Erwin & Van Huylenbroeck, Guido, 2016. "The Organizational Innovation System: A systemic framework for radical innovation at the organizational level," Technovation, Elsevier, vol. 52, pages 40-50.
    19. Dass, Rajanish & Pal, Sujoy, 2011. "Adoption of Mobile Financial Services among Rural Under-Banked," IIMA Working Papers WP2011-02-02, Indian Institute of Management Ahmedabad, Research and Publication Department.
    20. Adnan, Nadia & Md Nordin, Shahrina & Hadi Amini, M. & Langove, Naseebullah, 2018. "What make consumer sign up to PHEVs? Predicting Malaysian consumer behavior in adoption of PHEVs," Transportation Research Part A: Policy and Practice, Elsevier, vol. 113(C), pages 259-278.

    More about this item

    Keywords

    Smartphone payments; Apple pay; Mobile payments; Financial innovations; Retail payments; Financial services;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:tefoso:v:161:y:2020:i:c:s0040162520311380. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.sciencedirect.com/science/journal/00401625 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.