Abstract:

Mobile payment (m-payment) has increased substantially in the last years due to the advance in the infrastructure, government regulations and new mobile devices capable of handling them (Cao et al., 2015). In addition, many society's potential economic and efficiency gains have been proposed from replacing cash-based payments with electronic payments. This, in turn, might be an opportunity for firms to reshape their business model into a more innovative one (Taran et al., 2015). Nowadays, book a room or buy a ticket for the cinema using a mobile device is not part of a science fiction movie (Wong et al., 2015). Apple pay, google wallet, paypal, NFC technology, etc. are only some examples of technologies that consumers as well as retailers have been familiarized with in the last years. However, research on m-payment business model is quite limited so far (Ozcan and Santos, 2015) and the drivers of acceptance by customers are far to be understood. M-payment was first defined as the use of a mobile device to conduct a payment transaction in which money or funds are transferred from payer to receiver via an intermediary, or directly, without an intermediary (Mallat et al., 2009). Putting that simpler, mobile payment is a kind of service that allows users to pay for the goods or service through mobile phones (He, 2013).