Cash, credit, or phone? An empirical study on the adoption of mobile payments in the United States

The purpose of this study is to investigate the effects of consumer factors on behavioral intention to adopt mobile payments. We focus on the proximity mobile payment, which is made feasible by the near-field communications (NFCs) technology. Building upon the theory of reasoned action and technology acceptance model (TAM), a behavioral intention model was established consisting of enhanced cognitive antecedents as well as affective and social antecedents. Cognitive antecedents encompass the factors including relative advantage, perceived usefulness and ease of use in the TAM, and technology characteristics (e.g., responsiveness and mobility); affective antecedents focus on positive and negative emotions associated with using NFC mobile payments. Both antecedents are expected to affect attitudes. In addition, social antecedents examine subjective norms and the influence of network externalities. Data were collected from 394 adult nonusers of NFC mobile payments in the United States via an online survey. The research model was tested using structural equation modeling. The results showed that all three antecedents significantly affected individual consumers' intention to adopt NFC mobile payments, explaining a significant amount of variance. Both theoretical and marketing implications are discussed in the context of NFC mobile payments.