Mobile Payments in Pakistan

Mobile Payments (Conceptual Framework)
Submitted by: Mohsin Zahid Khan

Submitted to: Dr. Jamshed Khattak
Mobile Payments
Conceptual framework
Mohsin Zahid Khan
Bahria University Islamabad
Author Note:
This Research proposal is created for “Digital Marketing”, MSc Marketing & Sales, taught by
Dr. Jamshed Khattak
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Table of Contents
1. Introduction............................................................................................................................................3
2. Theory background.................................................................................................................................4
2.1 Mobile payments..............................................................................................................................4
2.2 TAM...................................................................................................................................................4
2.3 UTAUT................................................................................................................................................5
3. Model and hypothesis development......................................................................................................5
3.1 Behavioural intention.......................................................................................................................6
3.2 AR......................................................................................................................................................6
3.3 AR and behavioral intention.............................................................................................................8
3.4 PR......................................................................................................................................................8
3.5 PR and behavioral intention...........................................................................................................10
3.6 Personal innovativeness and behavioral intention........................................................................10
3.7 Personal innovativeness and AR.....................................................................................................11
3.8 Customer expectations...................................................................................................................11
4. Conceptual Framework.........................................................................................................................13
5. Targeted Population..............................................................................................................................14
5.1 Sample.............................................................................................................................................14
6. References.............................................................................................................................................15
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1. Introduction
Now days mobile devices have significantly influenced lives of people in ways which is way
more than any other innovation in the history of mankind. Daily performed activities have slowly
tracked from real circumstances to mobile phone-based virtually operated environments. It is
evident that adoption of mobile phones has taken place at a very fast rate and to the grass root
level of technology in the history of mankind (Jack and Suri, 2011).
Secure mobile transactions and mobile network has revolutionized the way people use to manage
and move money by providing them with a new platform from conventional methods (Sam
Pitroda,2010). It has been observed that mobile payments have limited success in developed
countries, however emerging economies like Kenya and Philippines have shown remarkable
penetration in formal banking system as far as mobile payments are concerned (World Economic
Forum, 2011). In India alone there are only 12 million customers who comes under the category
of registered consumers of mobile payments. (Chakrabarty, 2012). It is evident from the usage
figure of India which provide factual information regarding inherent advantages of mobile
payments, however there is still some reluctance among customers to adopt the service.
Not much literature is available on mobile payments and this topic still is in infancy stage
however there is a need for better analysis and understanding of the factors which affect the
adoption and usage of mobile payments. The purpose of this research is to identify factors
affecting initial readiness to adopt mobile payments. It will help us explain the behavioral aspect
as well as technical understanding and facilities which make mobile payments an important
medium in the sight of customers. However, this paper draws various factors on extant literature
to devise a construct named “adoption readiness (AR)”. Perceived risk (PR) and personal
innovativeness are also major determinants which leads to usage intention. This research further
examines and compare relationship between antecedents of usage intention in the context of
customer sub-groups based on usage.
Structure of the paper is devised as following: the first section discusses the formulation of
conceptual model based on extensive literature review as per different construct of the model.
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2. Theory background
2.1 Mobile payments

Mobile payments comprise of the concept of making payments for services and goods with the
help of mobile devices including personal digital assistants, radio frequency devices, near field
communication-based devices and wireless handsets (Chen and Nath, 2008). Regardless of the
payment service provider and the device, these mobile operated devices are registered with
different banks in-order to enable high security transfer of funds from the credit card account to
the payee’s bank account just with the help of their mobile devices (Ng and Yip, 2010).
Technology acceptance model (TAM) (Davis, 1989) and Unified theory of acceptance and use of
technology (UTAUT) (Venkatesh et al.,2003) are the two models which are termed highly
amongst researchers (Chung and Kwon, 2009; Kleijnen et al., 2004; Luarn and Lin, 2005; Yu and
Fang, 2009) for in-depth analysis and understanding of which factor that have significantly
affecting usage intention directed towards mobile payments and many other similar technologies.
Many studies also highlight PR, as a newly innovated technology acceptance variable to provide
insight regarding user’s privacy and security concerns regarding financial transactions (Luarn
and Lin, 2005; Wang et al., 2003).
2.2 TAM
As discussed earlier, the theoretical foundation for TAM is based on Fishbein and Ajzen’s theory
reasoned action (TRA) (Fishbein and Ajzen, 1975). The TAM projects two very significant
beliefs which results in acceptance of technology: perceived usefulness (“the degree to which a
person believes that using a particular system would enhance his or her job performance”) and
perceived ease of use (“the degree to which a person believes that using a particular system
would be free of physical and mental efforts”).
When discussing online technologies like online shopping, “TAM is the major concept applied in
such technologies (Gefen et al., 2003; Tong, 2010), e-commerce (Pavlou, 2003), mobile instant
messaging (Jiang and Deng, 2011), mobile payments (Dahlberg et al., 2003) and mobile
commerce (Wei et al., 2009)”.
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2.3 UTAUT
The UTAUT (Venkatesh et al., 2003) model incorporates eight theories which exist in literature,
which discusses behavioral aspect of user’s acceptance of technology. These theories are as
follows: the TAM, innovation diffusion theory (IDT), the motivational model, the TRA, the
theory of planned behaviour (TPB), a model integrating the TAM and TPB, the model of PC
utilization and social cognitive theory.
Total sample of 215 respondents from four different organizations, with the help of longitudinal
studies, UTAUT captures main elements of different models. Four constructs from the model are
proposed – effort expectancy (the degree to which there is ease of use and complexity of use),
performance expectancy (the degree to which it is perceived to be useful and provide relative
advantage), social influence (SI) (in accordance with subjective norm) and facilitating conditions
(FC) (which is in accordance with perceived behavioral control), these four constructs affect how
users are inclined towards adoption of an information technology. Numerically UTAUT has been
proven and tested and is perceived to be superior to other existing competing models (Park et al.,
2007; Venkatesh et al., 2003; Zhou, 2012). Already prevailing research has used UTAUT to
explain how users adopt internet banking (Yu, 2012), mobile wallet (Amoroso and Magnier –
Watanabe, 2012), mobile banking (Yu, 2012; Zhou et al., 2010), location-based services (Zhou,
2012) and mobile services (Rao and Troshani, 2007; Wang et al., 2006).
3. Model and hypothesis development

When we talk about consumers who are adopting mobile payments, such users are also users of
mobile technology as well as payment services, which helps it explain the integration of different
operations in mobile payments thus there are technology considerations for such users which is a
central role in consumer behavior and directing them towards mobile payments (Stewart and
Pavlou, 2002).
With the help of two radical models; TAM and UTAUT helps to fulfil gap of literature by
progressively integrating with the concept of risk and innovativeness to recommend a conceptual
model for adoption intention of mobile payment services.
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3.1 Behavioural intention

The degree to which a person intends to perform a certain behavior is known as Behavioral
intention (Fishbein and Ajzen, 1975). This similar concept is extensively used in subsequent
models related to technology acceptance which was originally developed in TPB and TRA.
According to TPB, the most foremost and significant influential predictor of behavior is
behavioral intention. In many previous studies it is evident that behavioral intentions correlate
and associates with actual behavior (Al-Maghrabi and Dennis, 2011; Venkatesh et al., 2012; Yiu
et al., 2007).
Therefore, measuring intention will give acceptable indication of consumer behavior.
3.2 AR
Whenever any user wants to try a new product or service, a potential user must attain certain
level of readiness. Focusing on mobile payment services, many studies talk about reviewed
literature in the context of factors affecting potential customers’ readiness for adoption of newly
innovated technology. Depiction from TAM (Davis, 1989) and UTAUT (Venkatesh et al., 2003),
literature provide several evidence that AR can be described through perceived ease of use, SI ,
perceived FC and perceived usefulness.
These both constructs (perceived usefulness and perceived ease of use) were proposed to create
usage intention of any new technology in TAM (Davis, 1989). Two factors which act as pre-
requisite to consumer’s consideration of usage or trail of any service or product are factors of
product’s usefulness and the ease of use which further determine the intend to use the product by
the consumers.
Building on to TAM and integrating other relevant theories, UTAUT proposed strong impact of
SI and perceived FC in adoption of any new technology. SI refers to the phenomenon of degree
of importance an individual think about what others believe that that individual should use the
new system. People who use mobile payments may be looked upon as being up-to-date with
technology and modern by their family and friends, smarter, successful and tech savvy. Perceived
FC is defined as the degree to which “an individual believes that resources and technical
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infrastructure exists to support use of the system” (Venkatesh et al., 2003) which affect the user’s
ultimate use behavior.
There is a high degree of correlation between factors in UTAUT (perceived FC, SI, perceived
usefulness, perceived ease of use) which is supported by strong evidence from literature and has
been observed by many researchers in diverse technologies globally. A study explaining effect of
common method variance with the help of TAM, Sharma et al. (2009) explains significant
correlation between perceived ease of use and perceived usefulness which are also components
of TAM. When conducting meta- analysis which comprises of 26 seminal studies in accordance
with TAM, the observations denotes strong correlation between ease of use and usefulness by
researchers (Qingxiong Ma and Liu, 2004).
A non-profit organization’s recent study on adoption of social media for public relations using
UTAUT reported strong correlation between perceived ease of use, SI, perceived usefulness and
FC (Curtis et al., 2010). Another similar study on internet with respect to its being a distribution
channel, explains strong co-relation between SI, PEOU and PU (Izquierdo-Yusta and Calderon-
Monge, 2011). Strong correlation has also been observed in another research in homogenous
technology in China between perceived ease of use and perceived usefulness towards mobile
instant messaging (Jiang and Deng, 2011). In a study regarding mobile banking also explains
correlation between perceived ease of use and perceived usefulness (Wessels and Drennan,
2010). Venkatesh et al. (2012) reported “a strong correlation between perceived
usefulness/performance expectancy, perceived ease of use/effort expectancy, FC and SI in a
study conducted in Hong Kong on usage of mobile internet.”
Different researchers have put forward different contextual and directional relationships between
SI, FC, perceived ease of use and perceived usefulness, however, most frequently discussed
constructs are in the context of usage intention of latest technologies. Apart from proposed
relationships, majority of researches explains strong correlations between these constructs.
By reviewing literature, it makes it clear that no factor is independent construct which is

affecting another via causal relationship rather it is actually dimensions of a single construct
termed “AR” in this respective study. Also, according to this study “AR” is deduced to be as a
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second order construct comprising of four dimensions; SI, perceived ease of use, perceived FC
and perceived usefulness.
AR explains the degree to which an individual believes or is willing to adopt a new technology.
Further, this study hypothesizes:
H1. AR is explained through perceived usefulness, perceived ease of use, SI and FC.
3.3 AR and behavioral intention

TAM (Davis, 1989) have put forward a premise that different dimensions of technology
acceptance has a radical impact on behavioral intention to experience a new technology. Also,
many researchers around the globe have discussed and observed that acceptance of technology in
the context of e-commerce, internet banking and any homogenous context, have positive impact
on usage intention (Black et al., 2001; Flavian and Guinalıú, 2006; Howcroft et al., 2002; Tan
and Teo, 2000).
Thus the hypothesis is devised to be:
H2. AR will have positive significant effect on customer intention to use mobile payment
services.
3.4 PR
“Consumer behavior can be considered as an instance of risk taking and risk reducing behavior”
(Bauer, 1960). Evaluation and purchase decisions or behaviors are strongly like to consumer’s
mental construct about perception of risk, which act as central to evaluation by the consumers in
the sight of researchers (Dowling and Staelin, 1994; Dowling, 1986). When it comes to
perceived risk, it is amalgamation of beliefs of uncertainty regarding a service or product for
potential negative consequences. In (1976) Gillett accepted that perceived risk is of core value
while consumers evaluate the product or service in order to purchase it, it holds true for non-
traditional shopping too. Internet is also perceived to be riskier than traditional brick and mortar
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when it comes to purchasing, same is viable for phone purchase as well as mail-order (Bobbitt
and Dabholkar, 2001).
According to (Laroche et al., 2004) the dimensions of risk which actually vary as per product and
service and is not the same. Different products are associated with different type of risks. This
study however, this literature specifically discusses consumer behavior towards service operated
by IS (information systems) which comprises of online banking, mobile services, mobile
banking, online shopping etc. in-order to narrow down the perspective at components of risk
directed to mobile payment services. Three main dimensions - security, privacy and monetary
risk are reviewed in this literature for consumer adoption intention of financial technological
innovations.
Security Risk: This literature talks about security risk in online environment which refers to
consumer’s consideration regarding security of payment and transmission of information during
a transaction (Kolsaker and Payne, 2002). Security risk is perceived as the technical attribute
when it comes to confidentiality, authentication, non- recognition of relation and integrity
(Flavian and Guinalıú., 2006). The only way to attract customers to increase purchase it to make
sure that their credit card numbers and other transactional information is safe.
Privacy risk: It is defined as the possibility of an online business using personal information of
an individual without consumer’s discretion, in a negative way. (Nyshadham., 2000). It also
comprises of risk which is included when information about consumers shopping habits are
captured without the consent of consumers. Gerrard and Cunningham (2003) explains that
usually consumers worry that their transactional information being shared by bank, who further
may share this information with other companies in the banking group who would manipulate
consumers to on the basis of shared information to buy more products, or from company’s
prospect would try to sell additional products.
Pikkarainen et al. (2004) reported “e-banking users want to control all aspects of their personal
data collection that is why privacy risk perception is particularly salient for m-payments.”
Monetary risk: Monetary risk is associated with the perception of consumer about a particular
online channel which comprise of payment study in the literature, which discusses varying cost
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as per different channels of purchase (Luarn and Lin, 2005). Empirical demonstration by
research has denoted that there is high adoption rate for mobile payments which are directly
linked to economic factor such as advantageous transaction service fees or concerns on basic fees
while using mobile payments (Yang, 2009). When talking about emerging economies like China
(Yao and Zhong, 2011), Brazil (Cruz et al., 2010) and Bangkok (Sripalawat et al., 2011), the
foremost factor that usage intention and perception on usefulness of mobile payments is
monetary risk associated with mobile payments.
Therefore, three risks of perceived risk are security risk, monetary risk and privacy risk.
H3. PR is explained through perceived security risk, perceived privacy risk and perceived
monetary risk.
3.5 PR and behavioral intention

Perceived risk is the major factor behind negatively influencing usage intention of online
banking (Howcroft et al., 2002; Pikkarainen et al., 2004; Polatoglu and Ekin, 2001). In Australia,
consumers are not willing to adopt online banking due to risk associated with online banking.
(Sathye, 1999) and in Singapore (Tan and Teo, 2000). Therefore, this study concludes that the
negative significant impact of perceived risk on consumer’s behavioral intention to adopt mobile
payments.
H4. PR will have significant negative effect on customer intention to use mobile payments
for the purchase of goods services.
3.6 Personal innovativeness and behavioral intention

The foremost purpose of new information systems is to target customers for innovations.
Literature on innovation diffusion draw its roots towards an individual’s intention of adoption
towards technologies (Al-Jabri and Sohail, 2012; Lassar et al., 2005; Laukkanen et al., 2007; Yi
et al., 2006). Also, a construct termed personal innovativeness in the domain of Information
technology, abbreviated (PIIT), is pronounced as “the willingness of an individual to try out any
new information technology, specifically in the domain of technology (Agarwal and Prasad.,
1998).
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Due to the fact that mobile payment systems are termed as a new technology, it is expected that
H5. Personal Innovativeness will have significant positive effect on behavioral intention to
use of mobile payments for the purchase of goods services.
3.7 Personal innovativeness and AR

There is a significant impact on perceived rase of use and perceived usefulness by personal
innovativeness, which is evident from the literature (Kwon and Zmud, 1987; Parthasarathy and
Bhattacherjee, 1998; Sultan and Chan, 2000; Tornatzky and Klein, 1982).
There is an empirical validation by researchers (Yi et al., 2006; Bigne´-Alcan˜ iz et al., 2008;
Lassar et al., 2005) that there is direct effect of innovativeness on consumer behavioral intention,
on innovation characteristics which comprises of (perceived ease of use, perceived usefulness)
which is further mediated by attributes of innovation i.e. usefulness and ease of use, on
innovativeness.
This study has intellectualized perceived usefulness, perceived ease of use and attitude as
dimensions of latent construct “AR” that is adoption readiness.
H6. Personal Innovativeness will have significant positive effect on AR of use of mobile
payments services.
3.8 Customer expectations

It is important to understand what shape up customer’s expectations about a product or a service
and how expectations are altered in context of experiencing a product or service. In order for a
product or a brand to fulfil the needs, wants and other perceived requirements of consumers, it
must be based on authentic and real performance of a product or service a consumer receives
while experiencing a product or a brand, known as experience- based norm (Woodruff et al.,
1983). Whereas when it comes to expectation norm, it is said to be based on the average
performance of a group of similar brands which is referred to as product-type norm, that a
consumer believes to be their potential product which is known as “best-brand norm”. Whether it
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is best-brand norm or product norm, both are based on consumers’ prior experiences (good or
bad), which helps in describing variation in pleasure in comparison to other norms which are
actually prediction of brand performance. Many researches discuss experience on expectations
and such researches has been acknowledged in the literature, explaining the radical premise that
experiences are influenced by expectations which are concluded through typical performance of
a particular product or brand, referred to as product norm (Woodruff et al., 1983). Therefore, it is
safe to deduce that characteristics of experiences act as an antecedent that shape up consumer’s
expectations of a brand or a product which ultimately result in behavioral intention which is
usage.
We propose the following hypothesis:
H7. There is a positive relationship between enhanced consumer’s expectations and

behavioral intention to use mobile payment application(s)/service(s).
The above mentioned research conducted by researchers in various markets laid the foundations
of conceptual research model for this study, which is presented below.
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4. Conceptual Framework
Perceived Usefulness
H1
Perceived Ease of
Use
Adoption Readiness
Facilitating
H6 H2
Conditions
Personal
Social Influence Innovativeness
H5
H7
Behavioral Intention
Enhanced Consumer
Expectations
H4
H3
Security Risk
Privacy Risk Perceived Risk
Monetary Risk 13
5. Targeted Population
The population for the research/survey will be graduates from different part of the country. It is
important that respondents must be current banking and mobile phone customers due to the fact
that usually mobile payments are backed by credit card or a bank account. It is also important for
respondents to be literate to conveniently transact using mobile payments as mobile payments
are essentially offered in English.
Primary data for the study will be collected through structured questionnaires administered to
respondents.
Constructs of questionnaires are provided in index. The questionnaire is adopted and not adapted
to maximize the generalization of the study.
5.1 Sample
Table below represents the respondents-customers divided according to gender, age, education
and occupation.
Table 1. Descriptive statistics of respondents ‘characteristics
Characteristics Sample %
Gender
Male
Female
Age
20-30
30-40
40 and above
Educational background
BE
BCOM
BSC
BMS
BA
Others
Occupation
Financial services
Student
IT/Telecom
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Professional
Self-employed
Other service
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Mobile Payments in Pakistan

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Mobile Payments (Conceptual Framework)

Submitted by: Mohsin Zahid Khan

2.1 Mobile payments

3. Model and hypothesis development

3.1 Behavioural intention

Therefore, measuring intention will give acceptable indication of consumer behavior.

By reviewing literature, it makes it clear that no factor is independent construct which is

3.3 AR and behavioral intention

Thus the hypothesis is devised to be:

3.5 PR and behavioral intention

3.6 Personal innovativeness and behavioral intention

3.7 Personal innovativeness and AR

3.8 Customer expectations

We propose the following hypothesis:

H7. There is a positive relationship between enhanced consumer’s expectations and

Privacy Risk Perceived Risk

Al-Maghrabi, T. and Dennis, C. (2011), “What drives consumers’ continuance intention to

Izquierdo-Yusta, A. and Calderon-Monge, E. (2011), “Internet as a distribution channel: empirical

Kolsaker, A. and Payne, C. (2002), “Engendering trust in e-commerce: a study of gender-based

Parthasarathy, M. and Bhattacherjee, A. (1998), “Understanding post-adoption behavior in the context

Sathye, M. (1999), “Adoption of Internet banking by Australian consumers: an empirical investigation”,

Tong, X. (2010), “A cross-national investigation of an extended technology acceptance model in the

Wessels, L. and Drennan, J. (2010), “An investigation of consumer acceptance of M-banking”,

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