Fear of COVID-19 disease and QR-based mobile payment adoption: a protection motivation perspective

The pandemic has brought about a shift in the way people perform contactless payments using mobile apps, with QR codes becoming increasingly popular as customers can pay for goods and services without having to physically handle cash or cards. Drawing on the protection motivation theory (PMT), this research aims to reveal retail merchants' psychological fears of the COVID-19 virus, potentially carried by banknotes, which impact their decision to use QR-based mobile payment (m-payment) services. Structural equation modeling via SmartPLS was utilized to examine the data acquired from 448 small merchants and test the proposed hypotheses. The findings revealed that perceived severity, response efficacy, and self-efficacy had a positive impact on their continued intention to use m-payments; however, response cost had a negative impact. Furthermore, age, education, and business experience moderated some of the effects of these antecedents on m-payment continuance intention. Through effective awareness campaigns, providers can position m-payment as a worthy alternative to cash, establishing a sense of security and comfort from the disease-based harm that could be caused by the latter. Driven by the new physical distancing norm, a model that explicates one's fear of microbial infection and contamination transmitted from banknotes is a novel approach to predicting contactless payment adoption. Furthermore, the unique merchant perspective on m-payment adoption contributes to the existing literature that is traditionally centered on the consumer.