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What drives the adoption of mobile payment? A Malaysian perspective

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Listed:
  • Krishna Moorthy
  • Loh Chun T'ing
  • Kwong Chea Yee
  • Ang Wen Huey
  • Lee Joe In
  • Poon Chyi Feng
  • Tan Jia Yi

Abstract

The purpose of this study is to examine the antecedents of behavioural intention to adopt mobile payment among working adults in Malaysia. The variables of the unified theory of acceptance and use of technology 2 (UTAUT2) with perceived security were adopted as a theoretical base. The gathered data through a questionnaire were examined by using multiple linear regression (MLR) analysis. The study revealed that performance expectancy, facilitating conditions, hedonic motivation, and perceived security are significant in mobile payment adoption. However, effort expectancy and social influence are not significant. The findings of this study contributed to a simple UTAUT2 model with perceived security as an additional construct in explaining the adoption intention of mobile payment. The findings of this study are applicable to the mobile payment service providers in Malaysia to improve their mobile payment quality by improving the facilitating conditions.

Suggested Citation

  • Krishna Moorthy & Loh Chun T'ing & Kwong Chea Yee & Ang Wen Huey & Lee Joe In & Poon Chyi Feng & Tan Jia Yi, 2020. "What drives the adoption of mobile payment? A Malaysian perspective," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 25(3), pages 349-364, July.
    • Handle: RePEc:wly:ijfiec:v:25:y:2020:i:3:p:349-364
    DOI: 10.1002/ijfe.1756
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    References listed on IDEAS

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    1. Chanchai Phonthanukitithaworn & Carmine Sellitto & Michelle W. L. Fong, 2016. "A Comparative Study of Current and Potential Users of Mobile Payment Services," SAGE Open, , vol. 6(4), pages 21582440166, November.
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    3. Fumiko Hayashi, 2012. "Mobile payments: What’s in it for consumers?," Economic Review, Federal Reserve Bank of Kansas City, vol. 97(Q I), pages 35-66.
    4. Kai-Ying Chen & Meng-Lin Chang, 2013. "User acceptance of ‘near field communication’ mobile phone service: an investigation based on the ‘unified theory of acceptance and use of technology’ model," The Service Industries Journal, Taylor & Francis Journals, vol. 33(6), pages 609-623, May.
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    Cited by:

    1. Ashique Ali K. A. & Rameshkumar Subramanian, 2024. "Continuance intention to use smartphone-based payment services: the role of pre-adoption expectancies, usage experience, and conventional inhibitions," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(3), pages 888-903, September.
    2. Minh Thi Binh Nguyen & Nam Dinh Khuc & Nguyen Hoang Nguyen, 2024. "The direct and indirect impacts of factors on the use of QR code payment during the Covid-19 pandemic: Empirical research in Ho Chi Minh City, Vietnam," HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE, HO CHI MINH CITY OPEN UNIVERSITY, vol. 14(2), pages 126-142.
    3. de Blanes Sebastián, María García & Antonovica, Arta & Sarmiento Guede, José Ramón, 2023. "What are the leading factors for using Spanish peer-to-peer mobile payment platform Bizum? The applied analysis of the UTAUT2 model," Technological Forecasting and Social Change, Elsevier, vol. 187(C).
    4. Supreet Sandhu & Sangeeta Arora, 2022. "Customers' usage behaviour of e‐banking services: Interplay of electronic banking and traditional banking," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(2), pages 2169-2181, April.
    5. Shelly Gupta & Sanjay Dhingra, 2022. "Modeling the key factors influencing the adoption of mobile financial services: an interpretive structural modeling approach," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 27(2), pages 96-110, June.

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