Predictors of Mobile Payment Use Applications from the Extended Technology Acceptance Model: Does Self-Efficacy and Trust Matter?

With the development of the global economy, there is growing attention to mobile payment. However, the attention on mobile payment was mainly focused on developed context, while research in developing context is still at an early stage. In recent years, mobile payments have decisive influence on the financial transactions of consumers all over the world. This research seeks to look into the predictors affecting the adoption of mobile payments through the extended Technology Acceptance Model (TAM) which incorporates perceived quality, self-efficacy, and trust as additional predictors. Survey questionnaires were spread and 371 valid feedbacks were received from consumers in Malaysia who have experience using mobile payment. Structural equation modeling was utilized via the SmartPLS for processing data analysis. The results showed that the behavioral intention of Malaysian consumers was significantly predicted by perceived usefulness, perceived ease of use, and perceived quality, while the behavioral intention was found to positively influence the use behavior of mobile payment. In addition, trust was confirmed to significantly moderate the relationship between behavioral intention and use behavior. However, the moderating effect of self-efficacy was not ascertained. The results served as a reference for FinTech service companies to develop mobile payment platforms in the future and contribute to the technology marketing scholarship.