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Turkey’s e-commerce market is rapidly expanding, and the country is ranked first in the world in monthly mobile purchases. The factors that influence the adoption of online payments systems among the customers of a Turkish bank during the COVID-19 pandemic was determined. The research model extends the technology acceptance model (TAM) by further examining the impact of 11 factors on attitude, behavioral intention and actual usage. The results suggest a strong influence of these factors on attitude and behavioral intention. Relative advantage, perceived trust, perceived usefulness, personal innovativeness, perceived integrity, perceived ease of use, health and epidemic effects, income, private sector employment and self-employment all have a positive effect on actual online payment system usage. However, perceived risk and age have a negative impact on the actual online payment system usage.
Instrument | Definition | Advantages |
---|---|---|
Near Field Communication (NFC) | A wireless application that enables close-range communication between electronic devices as an extension of radio frequency identification technology. The devices are brought closer together via NFC technology, and the transaction takes place at a 10 cm range and without contact (Husni et al. 2011). | It provides easy and secure communication between two electronic devices. During the NFC payment process, any NFC-enabled account must be chosen and the phone read by the contactless POS equipment. |
Quick Response Code (QR) | A new generation two-dimensional barcode type, designed for usage in the Japanese automotive industry. The QR code can contain any type of data, including text, a website address, or a video link. (Soon 2008). | The QR Code reader software can quickly and easily read a QR Code from a mobile phone and open the corresponding product or service page. It simplifies the payment process and enables payment across a broad network of access points by being produced via channels such as POS, ATM and a web page. |
Digital Wallet | A software program that is used to store and transmit payment authorization data for one or more credit or deposit accounts (Levitin 2017). By uploading the payment account information to the digital wallet, the consumer can use the wallet as a payment device. | The user contacts the bank via a digital wallet and is granted the authority to approve the transaction. The bank is responsible for implementing the required security measures to ensure a smooth transaction procedure. |
Biometric Payment | Payments made by consumers using a unique feature such as their fingerprint, eye, or voice to validate their identification during payment transactions. | With the use of digital payments, concerns about the confidentiality and security of consumer payment transactions arose, and consumers requested that transactions be terminated with two-factor verification, which involves performing a personal verification in addition to the transaction password (Kumar and Ryu 2009). |
Blockchain | Blockchain technology was created as distributed ledgers for bitcoin (Du et al. 2018). Blockchain technology is being used in the financial sector for the following purposes: payment transactions, transfer transactions, purchase-sale platforms, authorization, digital identity management, and document management. | The absence of authority and intermediary systems cuts costs while also speeding up transaction activities. The use of several points of control operations reduces the likelihood of system fraud (Saygili and Ercan 2021). |
Factor | Definition | Previous Studies |
---|---|---|
Perceived Ease of Use (PEU) TAM |
The degree to which one believes it would be simple to use a specific system is referred to as perceived ease of use. Consumers are more inclined to adopt an application that is simpler to use than another (Davis 1989). | (Davis et al. 1989; Venkatesh 2000; Venkatesh and Davis 2000; Safeena et al. 2012; Hanafizadeh et al. 2014; Chuang et al. 2016; Kim et al. 2016; Tobbin and Kuwornu 2012). |
Perceived Usefulness (PU) TAM |
The degree to which an individual believes that utilizing a particular system will improve his or her job performance (Davis 1989). Perceived usefulness refers to the opportunities provided by mobile banking and whether it is advantageous to conduct financial transactions using a mobile phone (Aldás-Manzano et al. 2009). | (Davis 1989; Guriting and Ndubisi 2006; Riquelme and Rios 2010; Amin et al. 2008; Aldás-Manzano et al. 2009; Kazi and Mannan 2013; AlSoufi and Ali 2014; Hanafizadeh et al. 2014). |
Perceived Trust (PT) E-TAM |
PT is the anticipation that when one chooses to trust others, they will not behave opportunistically by taking advantage of the situation (Gefen et al. 2003). Trust reduces fraud, uncertainty, and potential threats, hence minimizing these worries and promoting e-commerce and e-payment transactions. | (Kurnia et al. 2007; Kim and Prabhakar 2004; Hanafizadeh et al. 2014; Mallat 2007; Tobbin and Kuwornu 2012) |
Perceived Risk (PR) E-TAM |
PR is a belief in the potential uncertainty of customers’ mobile money transactions (Tobbin and Kuwornu 2012). | (Akturan and Tezcan 2012; Tobbin and Kuwornu 2012; Hanafizadeh et al. 2014). |
Self-Efficacy (SE) E-TAM |
An individual’s assessment of his or her ability to use digital payment. It is a metric to assess one’s capacity to use digital payments. | (Luarn and Lin 2005; Gu et al. 2009). |
Social Influence (SI) UTAUT |
Customers’, friends’, family members’ and other consumers’ perceptions of technology use can be defined as social influence. (Venkatesh et al. 2003). | (Venkatesh et al. 2003; Venkatesh and Zhang 2010; Tarhini et al. 2015; Sivathanu 2018). |
Perceived Credibility (PCR) E-TAM |
PC is the degree to which an individual feels that using mobile banking will create no security or privacy risks (Wang et al. 2003). | (Luarn and Lin 2005; Hanafizadeh et al. 2014). |
Compatibility (CMPA) IDT |
The degree to which an innovation is judged to be consistent with present values, prior experience and potential customers’ demands (Rogers 1995). Kleijnen et al. (2004) defined CMPA in the context of mobile banking as the degree to which a product or service is compatible with the consumer’s lifestyle and current needs. | (Rogers 1995; Kleijnen et al. 2004; Wessels and Drennan 2010; Khraim et al. 2011; Sheng et al. 2011; Hanafizadeh et al. 2014; Lin 2011). |
Relative Advantage (RA) IDT |
RA is the extent to which an innovation is judged to be superior to the idea it replaces. Although economic advantage can be measured, social-prestige elements, convenience and satisfaction are frequently key components. What matters is whether an individual views the invention as beneficial (Rogers 1995). | (Rogers 1995; Taylor and Todd 1995; Püschel et al. 2010; Lin 2011). |
Health and Epidemic Effects (HE) |
The pandemic impacts of e-commerce and e-payments where physical contact is avoided. Long-term quarantines, prohibitions, and limits are imposed due to health and epidemic issues affect mobile payments. | (Acemoğlu and Johnson 2007; Dmour et al. 2021; Jiang et al. 2021). |
Complexity (COMPE) IDT |
Complexity is the degree to which an innovation is thought to be difficult to utilize (Rogers 1983). Taylor and Todd (1995) describe it as the degree to which an innovation is perceived to be relatively difficult to comprehend and use. | (Rogers 1983; Taylor and Todd 1995; Khraim et al. 2011). |
Quality of Internet Connection (QIC) E-TAM |
The quality of the internet connection allows users to complete their transactions quickly and easily. | (Sathye 1999; Al-Somali et al. 2009). |
Ubiquity (UB) E-TAM |
Ubiquity is defined as users’ ability to access mobile banking from anywhere at any time using mobile terminals and networks (Zhou 2012). This enables users to trade from any location. However, it will necessitate additional resources and effort on the part of service providers. | (Zhou 2012; Yan and Yang 2015). |
Perceived Enjoyment (PE) E-TAM |
Perceived enjoyment is the degree to which technology use is regarded as a pleasurable activity in the absence of other factors. | (Nysveen et al. 2005; Teo et al. 1999). |
Personal Innovativeness (PIN) E-TAM |
Personal innovativeness is defined as a willingness to experiment with new technology (Agarwal and Karahanna 2000). | (Agarwal and Karahanna 2000; Zhou 2012). |
Perceived Integrity (PI) E-TAM |
The commitment to principles in the mutually occurring process is referred to as perceived integrity. This component includes the concept of honesty, which instills trust in those who are trusted and increases compliance by minimizing uncertainty (Bhattacherjee 2000). | (Bhattacherjee 2000; Lin 2011) |
Facilitating Conditions (FC) UTAUT |
Facilitating conditions indicate that users have access to the resources required to engage in any behavior (Taylor and Todd 1995). | (Taylor and Todd 1995; Raleting and Nel 2011; Crabbe et al. 2009; Sivathanu 2018). |
Perceived Cost (PC) E-TAM |
Cost is defined by Luarn and Lin (2005) as the degree to which “a person believes that using m-banking will cost money”. | (Sathye 1999; Kleijnen et al. 2004; Luarn and Lin 2005). |