COGNITIVE TRUST, EMOTIONAL TRUST AND THE VALUE-BASED ACCEPTANCE MODEL IN MOBILE PAYMENT ADOPTION

Mobile commerce has grown rapidly worldwide and become globally competitive in the last decade. Despite the fact that mobile payment is a key enabling part of mobile commerce, consumers’ adoption has been lacking behind the adoption of many other mobile commerce activities. How to facilitate consumers’ adoption of mobile payment remains an important open question. Drawing on the attribution theory and value-based acceptance model, this study investigates the role of consumers’ trust on mobile payment adoption. In contrast to prior research, we develop a research model to examine the influence of both cognitive and emotional trust on consumers’ perceived value and the subsequent usage intention. We examine four dimensions of perceived value, namely functional, emotional, price and social value in the mobile payment context. The model is empirically tested with an online survey (n=273). Our results indicate that emotional trust has a much stronger effect than cognitive trust on consumers’ value perceptions. Further, functional, emotional and price value gain prominence in predicting adoption intention, while the effect of social value is insignificant. Discussions on limitations, theoretical and practical implications are provided.