Mobile payment (m-payment): an examination of factor influencing adoption in Thailand

Global business today has been revolutionized by an upsurge in technology where processing, packaging, and distributions as well as payment mode have practically brought tremendous changes to the way businesses are carried out or transacted. A change of the former payment took place when the internet was introduced to users who wanted to pay via electronic channels whose vendors are receivers, banks, or financial institutions, whenever and wherever they wished. However, it was mainly completed in a personal computer or a laptop and a prime concern was safety caution against fraud. Security and trust are thus important factors in M-payment adoption process. While the trends of digital and smart wireless devices have changed dramatically, there are some constraints that limit the number of M-payment users. This study will therefore explore the perception of security and trust in the service process of the M-payment adoption rather than M-payment mechanism. It will also focus on the relationship among security, trust, and customer satisfaction in M-payment adoption process as well as the factors that influence the differences among M-payment adopter stages.In order to examine a mobile payment, this study has three objectives. Firstly, it explores the relationship among security, trust, and customer satisfaction in M-payment adoption. Secondly, it examines the mediating effect of trust in M-payment adoption. Lastly, it explains significant differences in adopters in different stages and the M-payment adoption process, i.e. security, trust, M-payment adoption and satisfaction. Four-hundred-fifty respondents have randomly been selected from five main regions in Thailand i.e., Bangkok and central, northern, north eastern, eastern, and southern. This study utilizes a questionnaire survey for data collection. The validity measurement of the questionnaire is tested by the confirmatory factor analysis method. The techniques used in the data analysis in this study are descriptive, inferential and multivariate statistics. The result shows that trust, security and M-payment adoption, in a sequential order, have significantly direct impact on M-payment satisfaction. However, the relationship between security and satisfaction shows a negative impact. It demonstrates that there are other related factors between security and customer satisfaction in M-payment adoption. After trust has been introduced as a mediator, the relationship turns from negative impact to be positive impact. The result shows that the customer's perception of trust can increase the level of satisfaction in M-payment adoption and security issue is not the only important factor in the adoption process. Although, this research shows significant differences among the M-payment adopters in different stages, the result claims only significant differences in M-payment adoption and customer satisfaction.There are only a few studies in M-payment adoption that have a specific focus on security and trust in M-payment satisfaction. Besides, most of M-payment adoption studies were conducted in many developed countries because of their readiness of infrastructure and customers. Therefore, this study aims to be one of the first studies to explore the relationship among security, trust in M-payment adoption, and customer satisfaction in the context of developing countries, where their limitations and constraints are different.