A Unified Risk-Benefit Analysis Framework for Investigating Mobile Payment Adoption

The paper proposes a unified risk-benefit analysis framework for investigating consumers’ adoption of mobile payment technology. Based on perceived risk theory and risk-benefit analysis literature, the proposed framework integrates three variables—perceived risk, perceived benefit and perceived value, to predict consumers’ intention to use mobile payment. All the proposed hypotheses are well supported based on an empirical validation of 336 useful survey samples. The results show that consumers consider both the beneficial and risky aspects of using mobile payment to evaluate the overall desirability (perceived value) of adoption decision. Further, perceived value, together with perceived risk and benefit directly affects consumers’ intention to adopt the technology. Financial risk is found to be the key resource of the risks of using mobile payment. Both theoretical and practical implications are discussed.