NFC-Mobile-Payment describes contactless payment transactions using near-field-communication-technology. This payment technology is currently used in bank- and credit cards, as well as in mobile phones. This thesis focuses on NFC-Mobile-Payment using mobile phones. Aim of this work was, to identify the drivers of the customer adoption of NFC-Mobile-Payment in South Korea and compare them to previous findings from Austria and Taiwan. The drivers have been analyzed using the model of Pham and Ho that bases on the Technology-Acceptance Model (TAM). The countries have been compared to each other taking in account cultural, technological, and sociological differences and similarities. An empirical inquiry has been processed and data has been collected through an online survey. The found data was analyzed using the Maximum-Likelyhood-Method. In South Korea, the users’ trust in the involved companies and people, the absorptive capacity, the compatibility with the lifestyle and the tasks of the users the trialability, the personal innovativeness the attractiveness of available alternatives and the perceived usefulness were identified as influential drivers on the adoption of NFC-Mobile-Payment. The findings from South Korea differed significantly from those in the other two countries. Significant differences between Korea and the other two countries were found in all observed drivers except the users’ trust in the involved companies and people and the attractiveness of available alternatives. Another important finding is that in some aspects, the two Asian countries share more similarities with each other than both do with Austria, but in other aspects, Austria and Korea were found to be much closer to each other than each of them to Taiwan. Suggestions to executives of involved companies and institutions are provided in order to support enhancing the customer adoption of NFC-Mobile-Payment and other technological solutions with similar characteristics.
Table of Contents
1 Introduction
1.1 Motivation
1.2 Relevance
1.3 Research question
1.4 Goals
1.5 State of the art
1.6 Methods used
1.6.1 Empirical research
1.6.2 Comparison of the countries
1.6.3 Comparison of the data
1.7 Structure
2 Mobile Payment Systems
2.1 Terminology/ technical terms
2.2 The use of NFC-Mobile-Payments from users viewpoint
2.3 Development of Mobile Payments in South Korea
2.3.1 T-Money
2.3.2 Approaches by Korean mobile network operators, banks and credit card issuers
2.3.3 The Grand NFC Korea Alliance
2.3.4 Apple, Google, Android, Samsung, LG
3 Framework
3.1 Initial point of Research
3.2 Success Factors
3.2.1 Product related factors and intention to adopt NFC-based mobile payments
3.2.2 Personal related factors and intention to adopt NFC-based mobile payments
3.2.3 Trust and intention to adopt NFC based mobile payments
3.2.4 Attractiveness of alternatives and intention to adopt NFC-based mobile payments
3.3 Hypotheses
4 Empirical Part
4.1 Research Method
4.2 Measurements
4.3 Data collection
4.4 Execution annotations
4.5 Data analysis
5 Findings in South Korea
5.1 Presentation of the identified impacting factors in South Korea
5.2 Presentation of the findings in South Korea
5.3 Interpretation of the findings in South Korea
5.4 Comparison with previous findings in South Korea
6 Comparison of the countries
6.1 Economical facts
6.1.1 Spending on R&D
6.1.2 ICT value added
6.1.3 Employment in the ICT sector
6.1.4 Top ICT firms
6.1.5 Business research and development expenditures
6.2 Technical infrastructure
6.2.1 Fibre connections
6.2.2 ICT Development Index
6.2.3 ICT-Opportunity Indices
6.2.4 Businesses’ broadband connectivity
6.2.5 The Networked Readiness Index
6.3 Consumer Facts
6.3.1 Smartphone penetration
6.3.2 Peoples interest measured by search requests
6.4 Cultural comparison
6.4.1 Hofstede
6.4.2 Innovativeness vs. Imitation
6.4.3 The Globe study
7 Comparison of the findings in South Korea, Austria and Taiwan
7.1 Differences
7.2 Similarities
7.3 Interpretations
8 Conclusion
8.1 Suggestions for practitioners
8.2 Impact of the thesis
9 Limitations and further need for research
9.1 Limitations
9.2 Further need for research
10 Appendix
10.1 Testing of the Model used in Korea from SPSS
10.2 Demography
10.3 Survey used
Objectives and Research Scope
The primary objective of this thesis is to investigate the key success factors influencing consumer acceptance of NFC-based mobile payment systems in South Korea. By analyzing these factors and comparing them with findings from Austria and Taiwan, the research seeks to understand the underlying drivers and barriers of technology adoption in diverse markets, providing strategic insights for industry practitioners.
- Examination of technological and cultural factors influencing mobile payment acceptance.
- Empirical analysis of key success factors using the model established by Pham and Ho.
- Comparative analysis of South Korea, Austria, and Taiwan regarding ICT infrastructure and consumer behavior.
- Identification of similarities and differences in technology acceptance patterns across different cultural contexts.
- Formulation of practical recommendations for stakeholders and industry decision-makers to enhance market adoption.
Book Excerpt
3.2.1 Product related factors and intention to adopt NFC-based mobile payments
The first product related factor is the perceived usefulness, which can be seen as the degree to which a consumer believes that the use of a technology would increase his or her task performance. The second factor is the ease of use. It describes the degree a technology is expected as easy to use and comprehended by a consumer. The third driver is the perceived compatibility, which describes the degree to which a technology is anticipated to fit in the life, work, needs and values of a consumer. The fourth factor is the perceived risk. It describes the degree to which a consumer assumes that using a technology will contain risks (e.g. data security). The fifth factor are the perceived costs that mean the degree to which a potential user believes that using a technology will cost additional money. The perceived risk and the perceived costs are expected to be negatively correlated to the intention to adopt the new technology. As the sixth factor, the trialability describes the degree to which a new technology can be tested and experimented prior final subscription. The seventh and last of the product related factors are the additional values. The additional values describe the degree to which consumers assume that a technology will offer additional values when it is used. (Pham & Ho, 2015)
Summary of Chapters
1 Introduction: This chapter outlines the motivation, research question, goals, and methodologies of the thesis, setting the context for the analysis of NFC-mobile payment systems.
2 Mobile Payment Systems: This section provides necessary definitions, explains technical terms like NFC, and details the development and evolution of mobile payment services in the South Korean market.
3 Framework: The theoretical framework is established here, defining the assumed motivational factors for technology adoption and presenting the hypotheses derived from the research model.
4 Empirical Part: This chapter describes the research method, measurements, data collection, and the procedures used for data analysis in the empirical study.
5 Findings in South Korea: This section presents and interprets the statistical results of the empirical research conducted in South Korea, comparing them to previous state-of-the-art studies.
6 Comparison of the countries: This chapter provides a comparative overview of economic, technical, and cultural aspects relevant to ICT adoption across South Korea, Austria, and Taiwan.
7 Comparison of the findings in South Korea, Austria and Taiwan: The findings are synthesized and compared to identify similarities and differences, leading to a deeper interpretation of the observed results.
8 Conclusion: The study concludes with practical suggestions for industry practitioners and an assessment of the impact of this research on relevant decision-making.
9 Limitations and further need for research: This chapter addresses the limitations encountered during the study and identifies areas requiring future investigation.
10 Appendix: This section contains supplementary technical data, including SPSS results, demographic profiles, and the survey instruments used.
Keywords
NFC, Mobile Payment, South Korea, Austria, Taiwan, Technology Acceptance, Perceived Usefulness, Perceived Compatibility, Trust, ICT Infrastructure, Hofstede, Success Factors, Consumer Adoption, Empirical Research, Innovation
Frequently Asked Questions
What is the core focus of this research?
The research focuses on identifying the key success factors that influence consumer acceptance of NFC-mobile payment services, specifically within the context of the South Korean market.
What are the primary thematic areas covered?
The study covers technology acceptance models, comparative analysis of international markets (South Korea, Austria, Taiwan), consumer behavior, and the role of cultural factors in adopting new technologies.
What is the main goal or research question of this study?
The central research question aims to determine what affecting key success factors determine the consumer acceptance of NFC-mobile payments in South Korea and how these compare to findings in Austria and Taiwan.
Which scientific methods are applied?
The research uses an empirical approach, utilizing survey-based data collection, factor analysis (exploratory and confirmatory), and comparative analysis of economic, technological, and cultural indicators.
What topics are discussed in the main part?
The main part covers the theoretical framework of technology acceptance, an analysis of the South Korean mobile payment landscape, empirical findings from surveys, and a comparative study across different countries.
Which keywords best characterize this work?
Key terms include NFC, Mobile Payment, Technology Acceptance, Consumer Behavior, South Korea, Comparative Analysis, and Success Factors.
How does the South Korean market differ from the Austrian market regarding NFC?
The thesis finds that South Korea has a more mature ICT infrastructure, significantly higher smartphone penetration, and strong government/corporate support for NFC, leading to different consumer expectations and adoption drivers compared to Austria.
What role does trust play in the findings for South Korea?
Trust in involved parties and processes was identified as one of the most significant factors for intention to adopt in South Korea, emphasizing the importance of established local brands like Samsung for consumer confidence.
Why are comparisons made with Taiwan?
Taiwan is included because it provides a similar Asian cultural and economic context, allowing for a more nuanced comparative analysis of technology adoption drivers between different regions.
- Quote paper
- Jakob Harb (Author), 2016, Acceptance and Success Factors for NFC-Mobile-Payment in South Korea. In comparison to Austria and Taiwan, Munich, GRIN Verlag, https://www.grin.com/document/346715
