Adoption of in-store mobile payment: Are perceived risk and convenience the only drivers?

Smartphones are changing the way consumers shop, even in brick-and-mortar settings. This study explores consumers’ adoption of proximity mobile payment technology (p-m-payment), which enables them to pay with their smartphones for purchases in a physical store. With a perceived value perspective, the authors identify utilitarian, hedonic, and social benefits and financial and privacy risks as key drivers. They also investigate differences compared with the drivers of more familiar mobile shopping usages and highlight the role of experience. The paper discusses implications for both mobile and channel research and recommendations to help retailers take advantage of p-m-payment technology.