Disruptive technologies and abundance in the service sector - toward a refined technology acceptance model

Mobile payment provides every mobile device user the opportunity to conduct commercial transactions without cash or cards. While mobile payment is already the dominant payment type in Asia, it is still in its infancy in Europe despite a high mobile phone penetration rate and service providers' considerable investments in the technology. Mobile payment is therefore a recent example of the puzzle of abundance—a phenomenon describing a situation in which the potential of a new disruptive technology is not tapped by the masses even though it offers substantial benefits to them. In this study, we address this puzzle by investigating the factors influencing the intention to use a disruptive technology. We draw on the example of mobile payment and develop and test a refined technology acceptance model. Results indicate that the intention to use mobile payment services is positively affected by perceived usefulness, perceived compatibility, perceived personal innovativeness, and perceived social influence, but is negatively affected by perceived risk. Both perceived costs and perceived risk mitigate the positive impact of several other characteristics. Our findings provide points of leverage to better tap the potential of mobile payment in contexts such as Europe.