Are Consumers Ready for Mobile Payment? An Examination of Consumer Acceptance of Mobile Payment Technology in Restaurant Industry

Authors

Cihan Cobanoglu, University of South Florida Sarasota-ManateeFollow
Wan Yang, University of South Florida Sarasota-ManateeFollow
Anna Shatskikh, University of South Florida Sarasota-Manatee
Anurag Agarwal, University of South Florida Sarasota-Manatee

Program Web Address

http://usfsm.edu/chtl/

Abstract

As an emerging payment method, mobile payment technology is perceived to be a secure and effective substitute of traditional debit/credit card payment. Although several reports and scholars claimed that mobile payment technology would become a major future payment method, consumers rather caught on this trend slowly, and little is known about key determinants of consumers’ acceptance of mobile payment. To close that gap, the current study extended the classic Technology Acceptance Model by adding four additional predictors that are relevant to hospitality industry. The study results suggested that compatibility with lifestyle was the strongest predictor of consumers’ intention to adopt mobile payment technology in restaurants, followed by perceived usefulness, subjective norm, security, and previous experience with mobile payment. Important theoretical and practical implications were provided based on our findings.

Recommended Citation

Cobanoglu, Cihan; Yang, Wan; Shatskikh, Anna; and Agarwal, Anurag (2015) "Are Consumers Ready for Mobile Payment? An Examination of Consumer Acceptance of Mobile Payment Technology in Restaurant Industry," Hospitality Review: Vol. 31: Iss. 4, Article 6.
Available at: https://digitalcommons.fiu.edu/hospitalityreview/vol31/iss4/6