Correlation analysis between factors influencing the usage intention of NFC mobile wallet payment

Abstract

The dramatic increase in the development of mobile technologies and the rising expansion of smartphones usage have results with vital opportunities for innovative corporations to develop new payment systems that offer consumers with value-added services. Near Field Communication (NFC) mobile payment system is becoming one of the highly noticeable phenomenons that is capable of turning users’ smartphones into digital wallets. Even though a lot of research has been conducted to address the consumers’ adoption of mobile payment, there are only few researches that have touched the user’s adoption of NFC mobile wallet from the human and security perspectives. The aim of this study is to analyze the factors influencing the consumers’ adoption of mobile payment. The study proposed a model that defines the dimensions of perceived security for NFC mobile payment to build understanding on how to improve the adoption rate of the technology. The model conceptualized two main dimensions containing eight independent factors namely, Perceived Ease of Use, Perceived Usefulness, Ubiquity, Awareness, Perceived Risk, Structural Assurance, Security and Privacy, and Trust.  The study conducts a survey questionnaire that involves 209 valid respondents to evaluate the proposed conceptual model. Finally, the result of the correlation analysis shows that all the independent variables (Perceived Ease of Use, Perceived Usefulness, Ubiquity, Awareness, Perceived Risk, Structural Assurance, Security and Privacy, and Trust) have significant influence on the dependent variable (Intention to Adopt NFC Mobile Wallet Payment).

Keywords: NFC; Mobile Wallet; Technology Adoption; Human and Security Perspective