Mobile payment service development - managerial implications of consumer value perceptions

Abstract

In recent years, a number of new payment solutions have been introduced with little success. The solutions have mostly been technology driven at the cost of convenience and value to the consumer. In this research in progress we investigate what characteristics of mobile payment solutions increase or decrease consumers' willingness to adopt these solutions. We also specify managerial implications for the guidance of consumers' payment solution adoption. As a frame of reference for understanding and explaining consumer value perceptions we use three befitting theories: Consumer perceived value (Grönroos, 1997), Technology acceptance model (Davis et. al., 1989), and network externalities theory (Shapiro & Varian, 1999). We conducted four focus group interviews for data collection. The results imply that mobile payment solutions are perceived to be valuable for small everyday purchases and other small purchases. There are, at the same time, still many concerns related to e.g. security and pricing. Ease of use, security, low transaction costs, and wide applicability of the solutions increase perceived customer value and should be managed by mobile payment solution providers. This research indicates clearly that only technically driven development may lack relevance for the potential users of mobile payment solutions.

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