Predicting the Intention and Adoption of Near Field Communication Mobile Payment

With the increasing use of mobile devices and new technologies, electronic payments, such as near field communication (NFC) mobile payments, are gaining traction and gradually replacing the currency-based cash payment methods. Despite multiple initiatives by various parties to encourage mobile payments, adoption rates in developing countries have remained low. The purpose of this research is to explore the prime determinants of NFC mobile-payment adoption intention and to develop a model of mobile payment adoption that includes perceived risk (PR) as one of the major elements by extending the UTAUT2 theory components. An online survey was used to acquire data from 370 NFC mobile payments users for the current study. To validate the components and their correlations, structural equation modelling (SEM) was implemented. According to the findings, performance expectancy (PE), hedonic motivation (HM), social influence (SI), and facilitating conditions (FC) have substantial impacts on the consumers' intentions to adopt NFC mobile payments (INFC). Effort expectancy (EE) and PR were reported to have no considerable effects on the adoption intention. In addition, INFC is revealed to be a major mediator between the associations of the actual adoption of NFC mobile payment (ANFC) with PE, HM, and SI. The findings of the study would assist providers and marketers in better understanding of the consumers' behavior, designing effective marketing strategies to enhance the consumers' positive intentions, and achieving the mass adoption of NFC mobile payments in different environmental contexts.