Perceived Value-Based Adoption Of Mobile Payment: An Empirical Investigation

Mobile payment is the innovative application based on mobile devices and also the fundamental payment function of mobile internet business modules. Mobile payment is a fast growing technology in recent years. However, despite its phenomenal growth, its adoption rate is very low (less than 3%) and the users have not really formed the customs to use the service. The research to investigate the influence factors why users adopt and use mobile payment, how the mechanism operate is very essential and important both in theory and practice.Firstly, this study analyzes the mobile internet, mobile commerce and mobile payment development and prospects and proposes the research topic of this paper. Furthermore, this study analyzes adopters and users acceptance and use of mobile payment-related theory and research. Most adopters and users of traditional technologies are employees in an organizational setting who use the technology for work purposes and the cost of mandatory adoption and usage is borne by the organization. In contrast, adopters and users of M-Internet services are individuals who play the dual roles of technology user and service consumer. Most of them adopt and use it for personal purposes, and the cost of voluntary adoption and usage is borne by the individuals. This study examines the adoption of Mobile payment as a new Information and Communication Technology (ICT) from the value perspective in contrast with previous technology perspective.Secondly, this research studies the factor influencing the adopters and users acceptance and use of mobile payment from two dimensions: the perceived benefit and perceived cost. Also this research examines the moderating effect of compatibility, network externality and use context. This research has done detailed research on use context, classified the use of mobile payment context from industry and main application.In addition, based on the above research and by adopting the theory of consumer choice and decision making from economics and marketing research, this study develops the Value-based Adoption Model (VAM) and explains customers’mobile payment adoption from the value maximization perspective. Furthermore, this study gives definition of the variables and design of the questionnaire to carry out the research. The findings demonstrate that consumers’perception of the value of mobile payment is a principal determinant of adoption intention, and the other beliefs are mediated through perceived value. Also the finds demonstrate that all the ten hypotheses were confirmed, especially the moderating effect of use context which makes great sense in both theory and practice.Finally, in the last part of the research the theoretical and practical implications of VAM related to mobile payment are discussed. This study also proposes mobile payment positioning, context-based, and platform-based and other development strategy.