Adoption readiness, personal innovativeness, perceived risk and usage intention across customer groups for mobile payment services in India

The purpose of this paper is to accomplish two objectives – to test the functional relationship between adoption readiness (AR), perceived risk (PR) and usage intention for mobile payments in India and to investigate the stability of proposed structural relationships across different customer groups.

The literature concerning major attributes of technology acceptance were systematically reviewed to develop construct of AR. Post that a comprehensive model consisting of AR, personal innovativeness and PR was put together. The model was then empirically tested using structural equation modelling.

On appraising the proposed model, five out of six hypotheses were fully supported while one hypothesis was partially supported. Test of invariance showed significant variance among users and non-users.

The results of the study may vary with national context, service offerings, regulatory framework and other customer personal variables (i.e. lifestyle) suggesting future research opportunities.

The results facilitate the comprehension of the role of different factors on the mobile payments usage intention among customers. In addition, the results expand the knowledge on consumer behaviour towards financial technological innovations.

The results expand one's knowledge on this relationship, propounding interesting empirical evidence of the model invariance among different consumer groups.