Consumer Acceptance Of Mobile Payments Essay

3389 Words14 Pages
Consumer acceptance of mobile payments - A system dynamics approach 1. Introduction With the rapid growth of the mobile handset market and market penetration of mobile internet, the mobile payment industry has started to take off. While there are lots of established players in the online payments arena, the mobile payments sector is ripe for disruption both by industry leaders and newcomers. Mobile payments have been suggested as a solution to facilitate micropayments in electronic and mobile commerce, and to provide an alternative for the diminishing use of cash at point of sale (POS) (Menke and de Lussanet, 2006; Ondrus and Pigneur, 2006) With markets like Kenya clearly shaping the future of mobile payments, most of the world is lagging behind in the adoption of the new technology. Consumer acceptance of such new technologies, irrespective of their potential, plays the biggest role in their adoption. A 2007 survey suggests that consumer acceptance is the biggest hurdle for adoption of mobile payments by companies (Edgar Dunn and Company, 2007). There are a number of different models to study consumer acceptance of new technologies and study consumer behaviour. The Diffusion of Innovations theory (Rogers 1962), Technology acceptance model (TAM) and Unified Theory of Acceptance and Use of Technology (UTAUT) (Venkatesh 2000, 2003) provide certain metrics to study the consumer acceptance of a new technology. In addition to consumer acceptance, the behavioural intentions of

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