What Is Sustainable Usage Intention Of Mobile Payments?

Under the heritage of the worldwide cellular trade (m-commerce) integration, cell bills (m-bills) have end up more and more popular in Southeast Asia. Compared to conventional cash fee way consisting of credit score playing cards, mobile virtual charge systems can assist purchasers to finish numerous sorts of online payments via virtual terminal gadgets without having to be limited with the aid of time and location (Liébana-Cabanillas et al., 2018). As innovation in payment generation, m-bills are defined as “any fee method that uses a virtual tool to prompt, authorize, and confirm the trade of transaction values in change for products and services” (Kim et al., 2009). For example, the fast growth of m-payment transactions in China has been attributed to WeChat Pay, and the Korean m-charge market has benefited from “0.33-birthday party m-fee structures” together with Kakao Pay (Shao et al., 2019).

Mobile charge has delivered approximately a historic technological revolution in the discipline of monetary payments, with a ways-attaining social and monetary impacts on the price atmosphere in Southeast Asia and the arena at big. With the high growth level of m-fee penetration in many monetary entities, m-fee no longer only brings comfort to consumers however also increases the extent of business for many agencies and improves the overall transaction price degree of the relevant financial entities (Fan et al., 2018).

Despite the numerous blessings defined above, customers are nevertheless limited by means of massive believe elements in accepting m-fee utilization scenarios. For example, many conventional clients continue to fear about the safety and reliability of m-price utilization eventualities, due to the fact m-charge entails privacy records together with the user’s property account, credit card wide variety, ID variety, and account glide quantity (Kim et al., 2010b). Previous applicable research mainly analyzed the have an effect on of diverse fine factors and initial trust (IT) on person behavior in m-charge situations (Liebana-Cabanillas et al., 2015). But, few research empirically analyzed the antecedents of both various satisfactory factors and IT.

Previous research investigated the various factors affecting customers’ adoption of m-bills, however there are still deficiencies to be filled. First, the studies on m-bills is mainly concentrated in the financially advanced countries, which includes China and america (Fan et al., 2018), South Korea and the US (Jung et al., 2015), China and South Korea (Lin et al., 2019), and India and the United States (Queiroz and Wamba, 2019), however these research are still unsystematic and scattered. Second, globally, m-fee is a new technology. Relevant studies in particular recognition on empirical evaluation of consumers’ early willingness to adopt this era, and few studies have a look at the degree after the use of new generation (Lin and Wu, 2021; Lin X. Et al., 2021; Lin X. C. Et al., 2021). Third, m-payment may be divided into  categories: brief-variety charge gadget (to pay for products or services by way of connecting digital virtual terminals to 4G community) and brief-variety payment system (to pay for merchandise face to face in bodily stores via price technologies together with quick-variety conversation and close to-area verbal exchange (NFC), and short-variety fee via cell phones (Gerpott and Meinert, 2017). Previous applicable manuscripts either simplest studied the willingness to undertake m-fee without a distinction among the 2 technology (de Kerviler et al., 2016) or handiest studied the willingness to use a proximity fee machine (Khalilzadeh et al., 2017; Verma et al., 2020).

Integration of Payment Features:

Social media platforms have known the potential of incorporating payment features to enhance user experiences. Platforms like Facebook, Instagram, and Twitter have begun integrating "buy" buttons or in-app stores, enabling users to make purchases without leaving the platform. This blurs the lines between social interactions and e-commerce, offering a seamless shopping experience.

Moreover, the integration goes beyond just purchasing products. Users can now split bills, send money to friends, or even make charitable donations directly within their favorite social apps. This integration streamlines financial interactions, making them an inherent part of daily social media use.

Implications and Benefits:

The meeting of social media and mobile payments has several implications that extend beyond convenience.

Seamless User Experience: Users can transition from discovering a product or service on their social feed to purchasing it without having to navigate external websites or applications. This frictionless experience enhances the likelihood of conversions.

Personalization and Targeting: Social media platforms are known for their robust data analytics capabilities. By integrating payment data with social data, platforms can refine their understanding of user preferences, enabling more personalized content and targeted advertising.

Entrepreneurship and Small Businesses: The integration of payment features allows small businesses and individual entrepreneurs to market and sell their products directly on social media. This democratizes e-commerce and provides a level playing field for businesses of all sizes.

Social Fundraising: The convergence enables crowdfunding and fundraising efforts to be seamlessly integrated within social networks, making it easier for individuals and organizations to rally support for their causes.

Financial Inclusion: The ability to conduct financial transactions within social media is especially beneficial in regions with limited access to traditional banking services. Mobile payments can empower individuals by providing them with a means to participate in the digital economy.

Challenges:

While the convergence of social media and mobile payments offers numerous benefits, it also presents challenges that need to be addressed:

Security and Privacy: The integration of financial data with social data raises concerns about the safety and privacy of users' private and financial information. Robust security measures must be in place to safeguard against data breaches and unauthorized access.

Regulatory Hurdles: The intersection of financial transactions and social media brings together two highly regulated domains. Navigating the complex regulatory landscape while ensuring compliance with financial and data protection regulations can be challenging.

Fraud and Scams: The convenience of making payments within social media can also be exploited by cybercriminals to perpetrate fraud and scams. Users need to be educated about potential risks and how to protect themselves.

Dependency on Platforms: As social media platforms integrate payment functionalities, users might become increasingly reliant on these platforms for both social interactions and financial transactions. This could potentially lead to a concentration of power and limited choice.