M-payment adoption in smes; virtual entrepreneurs

Abstract

The technological and communication revolution has driven the rapid development and popularity of M-payment services. The purpose of this study is to explore the M-payment adoption and consequences among SMEs context informal virtual entrepreneurs and provide insights for them to continue their venture operations to compete with the technologically advanced environment. This study addressed the enterprise perspective to explore the unknown facts from the M-payment phenomenon. The present study is quantitative, and the model was developed based on constructs of Unified Theory of Acceptance and Use of Technology 2 and empirical findings of previous literature. Using the Unified Theory of Acceptance and Use of Technology model and empirical findings, a generally validated and reliable model was developed for the study. Primary data of the study were collected from 122 SME entrepreneurs who expanded their businesses to virtual platforms. Study findings emphasized that relative advantage and absorptive capacity, perceived transaction convenience, compatibility have a significant impact on M-payment adoption, and perceived risk has a significant negative impact on M-payment adoption among informal virtual entrepreneurs in the SME context in Sri Lanka. Furthermore, social influence does not significantly impact M-payment adoption. Study results are beneficial for developers, vendors, policymakers to identify the desires of most growth sectors of the economy, SMEs entrepreneurs, and the model developed from the current study can be used for future studies by eliminating existing limitations of the same study.