Adoption of NFC-mobile payments by Generation Y consumers in Punjab: empirical evidence from UTAUT Online publication date: Fri, 15-Dec-2023
by Sandeep Kaur; Nidhi Walia
International Journal of Business Innovation and Research (IJBIR), Vol. 32, No. 4, 2023
Abstract: Although near field communication technology presents an opportunity for India to embrace the next frontier of mobile payments, consumers' adoption of NFC-mobile payments is still lagged compared to QR mobile payment system. Therefore, the current research explores the potential of unified theory of acceptance and use of technology (UTAUT) integrated with 'adoption readiness' (AR) and 'perceived risk' (PR) in explaining Generation Y consumers' adoption of NFC-mobile payments in Punjab. The results based on structural equation modelling (SEM) analysis of 500 smartphone users indicate that perceived usefulness (PE), perceived ease of use (EE), facilitating conditions (FC), and social influence (SI) are vital dimensions of adoption readiness; which positively influence the behavioural intention. On the other hand, perceived risk measured through security, privacy, and financial risk negatively influences behavioural intention (BI) to use NFC-mobile payments. Finally, the paper highlights the key implications for stakeholders.
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