An investigation of mobile payment (m-payment) services in Thailand

Purpose – Despite the significant efforts by the Thai Government to promote the use of mobile payment (m-payment) services, this new mode of financial payment has had limited consumer interest. Indeed, whilst it is seemingly desirable to facilitate the uptake of m-payment services given government promotion, limited research has been undertaken to examine the factors that might promote adoption. The purpose of this paper is to address this research gap. Design/methodology/approach – The study developed a conceptual model based on elements of innovation diffusion theory and technology acceptance. The model was empirically validated using structural equation modelling analysis using the responses gained from 529 Thai mobile phone users. The intercept interview/survey across eight different locations was the instrument used for data collection. Findings – The empirical results indicate that consumer adoption of m-payment services in Thailand was determined by four factors – compatibility, subjective norm, perceived trust, and perceived risk. Surprisingly, the construct of perceived usefulness, perceived ease of use, and perceived cost were found not to have a direct effect on behavioural intention. Research limitations/implications – The results regarding electronic payments highlight the importance of four factors that are fundamental in understanding consumer behaviour in regards to financial m-payments. The conceptual model developed in the study is well suited as a primary research framework to explore other aspect of technological innovation in a Thai context. Even though the model is not generalisable, it has the potential to be refined for use in other countries. The findings from the research contribute to the small, but growing number of studies focusing on technological business innovation in Thailand. Practical implications – The results of this study will be of value to various groups associated with m-payment services such as mobile network operators, financial institutions, and payment service providers. The findings will potentially inform appropriate service strategies and business models in order to improve the uptake of this type of financial payment by Thai consumers. The factors identified are significant in informing how the capacity of the Thai Government’s investment in electronic infrastructure could be more fully utilised. Originality/value – This study adds to the literature by bridging the gap in explaining consumer intentions to adopt new technological services amongst people who know about the service but have not adopted it as yet. Moreover, this paper is a pioneer study about the adoption of m-payment services in Thai setting.