Biometric m-payment systems: A multi-analytical approach to determining use intention

Abstract

Although mobile payment systems offer countless advantages, they do present certain drawbacks, mainly associated with security and privacy concerns. The inclusion of biometric authentication technologies seeks to minimise such drawbacks. The aim of this article is to examine the effect of key antecedents of the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) and perceived risk on the intention to use a mobile payment system featuring biometric identification. A new hybrid analytical approach is taken. A sample of more than 2500 smartphone users was obtained through an online panel-based survey. Two techniques were used: first, structural equation modelling (PLS-SEM) was conducted to determine which variables had a significant influence on the adoption of the mobile payment system, and second, an artificial neural network (ANN) model was used, taking a deep learning approach, to rank the relative influence of significant predictors of use intention obtained via PLS-SEM. The study found that the most significant variables affecting use intention were performance expectancy, effort expectancy, facilitating conditions, hedonic motivation and risk. In contrast, subjective norms, price value and habit were found to be weak predictors of use intention. The results of the ANN analysis confirmed almost all SEM findings but yielded a slightly different order of influence among the least significant predictors. A review of the extant scientific literature revealed a paucity of published studies dealing with the adoption and use of mobile payment systems featuring biometric identification. The conclusions and managerial implications point to new business opportunities that can be exploited by firms through the use of this technology.