Motives of mobile payment adoption during COVID-19 pandemic in Sri Lanka: a holistic approach of both customers' and retailers' perspectives

Abstract

PurposeThis study aims to investigate the motives of mobile payment adoption from both customers' and retailers' perspectives in Sri Lanka during the COVID-19 pandemic period. It also aims to compare the motives of mobile payment adoption across rural and urban contexts.Design/methodology/approachThe study employs a mixed-method approach with a concurrent research design. Both a survey of customers and in-depth interviews of managers in retail companies are used.FindingsThe study discloses that Performance Expectancy and Facilitating Conditions (PEFC), Hedonic Motivation (HM) and Perceived Technology Security (PTS) as, respectively, significant motives for customers to adopt mobile payment during this pandemic period. Such findings are confirmed by the four challenges disclose by the retailers. The unfamiliarity of customers, lack of employees' knowledge on mobile payment systems, poor management orientation and lack of computer literacy of customers are the main challenges from the retailers' perspectives. Further, it shows, though PEFC is a common motive, other motives are different across rural and urban.Practical implicationsThe findings of the study are helpful for retailers and policymakers. Retailers can develop strategies to enhance mobile payment adoption through PEFC, HM and PTS by giving special attention to the rural community. The main motive possible to use in both rural and urban contexts is PEFC. Further, retailers should take the initiatives to uplift the technological know-how of their employees while inculcating supportive management orientation. Policymakers can use this study to develop policies to enhance the community's familiarity with mobile payment technology and computer literacy.Originality/valueTo the best of the authors’ knowledge, this is the first study to investigate motives for adopting mobile payments from both customers' and retailers' perspectives while being the first scrutiny to compare rural and urban scenarios. The use of mixed methods with concurrent research design also contributes to originality.

A Comprehensive Analysis: Perception, Innovativeness, and Intention of Consumers As Determinant Factors of Mobile Banking Usage Behavior

“…Technological developments adopted (by banks as financial institutions) which are then offered to customers, are seen as a potential form of pioneering customer use, which is interpreted as a form of PI. Therefore, product adoption as a form of customer desire is shaped by customer innovativeness (Jayarathne et al 2022). This view of potential as a pioneer user then drives the tendency to use the bank's financial institution's technological offerings, so it can be seen that the higher the view of this, the easier it is for customers to form usage intentions by customers.…”

“…In recent years, researchers have concentrated on mobile banking usage behavior by using PI (Jayarathne et al 2022); and BI to use mobile banking (Hassan et al 2016;Zhu, 2022) as determinants of mobile banking usage behavior. Furthermore, previous studies have also investigated PU (Habes, 2019); PEoU (Gupta et al 2020); PR (Cheng et al 2016;Safari et al 2022; in this article constitutes ethical compliance agreed upon by the authors and research subjects for writing a scientific article, and all detailed data about the research subject described in the research are recognized as data that are permitted to be written in the report.…”

Thank you, government! Your support facilitated my intention to use mobile payment in the new normal era

“…The COVID-19 pandemic has inevitably altered the way in which everyone conducts monetary transactions. For instance, consumers find it safer to use online payment methods to avoid viral infections (Jayarathne et al, 2023). The contactless feature of m-payment fulfils the user's expectation of maintaining physical distancing.…”

“…Academically, the empirical work on m-payments can be divided into two phases: before the COVID-19 pandemic (Al-Saedi et al, 2020;Handarkho and Harjoseputro, 2020) and during the COVID-19 pandemic (Jayarathne et al, 2023;Loh et al, 2022a;Upadhyay et al, 2022). Nevertheless, m-payment studies that focus on the government's role in encouraging usage remain scarce, although it has been viewed as a critical factor in ensuring m-payment success in practice.…”

Proposed Marketing Strategy to Increase Sales Performance (Case Study: PT. Laku Emas Indonesia)

“…The PESTLE analysis is discussed as a tool to evaluate external factors impacting a business, and Porter's Five Forces framework is introduced to analyze the competitive environment of an industry. The importance of digital marketing channels in expanding market reach is emphasized (Al Hamli & Sobaih, 2023;Jayarathne et al, 2022). The conceptual framework for the research includes examining consumer experience, conducting AARRR analysis, and combining internal and external analysis to develop a marketing strategy solution.…”