An analysis of key factors affecting user acceptance of mobile payment

This paper aims to investigate the theoretical constructs involved in technological influence processes and cognitive influence processes and their influence on the acceptance of innovation especially in the mobile payment services context. We build the research model, referred to as the Mobile Payment Services Technology Acceptance Model (MPSTAM), based on an integration of Technology Acceptance Model (TAM), Theory of Planned Behavior (TPB), and Innovation Diffusion Theory (IDT). A questionnaire research is conducted to collect data and the structural equation modeling technique is used to evaluate the research model. Our findings show that (1) perceived usefulness, personal innovativeness and compatibility has direct positive influence on users´ attitude towards this service, and compatibility is the most influential factors among the three; (2) perceived ease of use indirectly influences attitude by affecting perceived usefulness; (3) opportunity cost and perceived risks have direct negative effect on the acceptance of the service.