Mobile payment adoption in Latin America
Authors: Bailey Ainsworth Anthony , Bonifield Carolyn M. , Arias Alejandro , Villegas Juliana 
Published: March 2022

Purpose
Service providers have a vested interest in enhancing adoption of technologies that improve the customer service experience. Buoyed by this idea, this paper aims to explore Latin American consumers’ mobile payment (MP) adoption, conceptualized as bank-sponsored mobile wallets that facilitate payment at the point-of-purchase. This paper applies a revised unified theory of acceptance and use of technology 2 (UTAUT2) model as theoretical framework for this exploration.

Design/methodology/approach
To test the conceptual model of MP adoption in Latin America put forward in this paper, the authors used Colombia as a sample site and conducted two studies among a sample of consumers in this country. Completed questionnaires from 186 participants (Study 1) and 398 participants (Study 2) were used in data analyses, which were conducted using Mplus 8.4 and PROCESS.

Findings
In Study 1, performance expectancy, social influence, bank trust, confidence in MP system and consumer innovativeness all impact consumers’ MP use intention; and use intention impacts MP behavior. In Study 2, involving a wider sample, performance expectancy, effort expectancy, facilitating conditions, perceived quality of the MP system, bank trust, consumer innovativeness, consumer optimism and consumer insecurity all affect MP use intention; and use intention significantly impacts MP behavior. Across both studies, follow-up analysis showed that effort expectancy influences performance expectancy for MP and indirectly influences MP use intention through its impact on performance expectancy. Bank trust also indirectly affects MP use intention through its effects on system confidence. In Study 2, age did not affect MP use intention or MP use; however, education affected MP use.

Research limitations/implications
The theoretical underpinning for the conceptual model was the UTAUT2, and the results across the two studies support previous research in which this revised model has been useful in explaining technology adoption. Core elements of the UTAUT2 such as performance expectancy, effort expectancy, facilitating conditions and social influence had different impact on MP adoption in Latin America, depending on the sample. Technology readiness index motivators and inhibitors also aid understanding of MP adoption.

Practical implications
The research provides insights on the variables that members of the MP ecosystem in Latin America (e.g. banks and other service providers, card issuers) need to address in getting Latin American consumers to use MP.

Originality/value
This research extends the exploration of MP to a region of the world that has not been the focus of prior studies on the adoption of this technology and responds to calls by some researchers to increase research in this region. The conceptual models in the two studies also incorporate trust in the banks that are part of the MP ecosystem in Latin America and consumer overall confidence in this MP ecosystem. The results show that both these factors are influential in Latin American consumers’ adoption of MP. System confidence also mediates the relationship between bank trust and MP use intention.