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This paper aims to present a comprehensive overview of the emergence and significance of digital payments, focusing on their impact on competitiveness and the need for policy interventions. In addition, it explores the design of policies that promote the adoption of digital payments, highlighting the benefits they offer to providers and users.

The paper examines the technological advances that have driven the growth of digital payment systems. It identifies key requirements for successful adoption and discusses the associated risks, along with potential strategies to mitigate these risks.

The findings emphasize the importance of responsible implementation and safeguarding the well-being of end users to fully realize the benefits of digital payment adoption. Understanding the inherent risks and establishing effective risk mitigation mechanisms are crucial. This necessitates the development of appropriate infrastructure to support the provision of digital payment services.

More research is needed to gain deeper insights into how emerging global trends in financial technology should be analyzed and understood by policymakers, service providers and users.

The findings of this study can guide policymakers, private sector managers and consumers in comprehending the effects of emerging digitalization trends and determining their adoption responses accordingly.

This paper stands out as one of the few research contributions that provide comprehensive and actionable policy recommendations to facilitate a smooth transition to a digital payments ecosystem that benefits all stakeholders.

Traditional payment systems based on cash and bank cards are being replaced by new innovative formats. This research analyzes the success factors in the adoption by customers of Bizum, a peer-to-peer (P2P) mobile payment system widely used in Spain. This study proposes a theoretical framework based on the Stimulus–Organism–Response (S-O-R) model and includes the analysis of the moderating effect of perceived risk and the mediating effect of perceived trust.

To achieve the proposed objectives, an online questionnaire was administered to 701 Spanish smartphone users, potential users of the proposed P2P payment systems.

The results show that perceived usefulness is the most important predictor of intention to use. Additionally, a medium predictive relevance performance of the proposed model is found.

This research contributes to a more holistic understanding of the adoption of P2P payment systems and provides new business opportunities that companies can exploit through the use of this technology.

以現金和銀行卡為基礎的傳統支付系統、正被嶄新而又富創意的模式取代。本研究擬分析驅使消費者使用Bizum的成功因素 (Bizum 是一個在西班牙得到廣泛使用的P2P移動支付系統) 。本研究以刺激-有機體-反應模型為基礎, 建議了一個概念框架;研究亦擬分析感知風險的調節作用, 以及感知信任的中介效應。

為達研究目標, 研究人員處理了701名西班牙智慧型手機使用者回答的網上問卷, 這些使用者是本研究提出的P2P支付系統的潛在用戶。

研究結果顯示、感知有用性是消費者會否使用P2P支付系統最重要的預測因素。研究結果亦顯示、本研究建議的概念框架的預測能力水平屬中等。

本研究使我們對驅使消費者使用P2P支付系統的因素更全面地了解;研究也使企業可透過使用這技術, 為自己創造新的商機。

The adoption of mobile payment remains low in certain regions, highlighting the need to identify the factors that enable and inhibit its adoption. This study aims to address this gap by investigating the role of information security, loss aversion and the moderating influence of the herd effect on Inertia and behavioral intentions in the adoption of mobile payment systems.

A structural equation model was developed and tested with 332 valid questionnaires to examine the proposed hypotheses.

The empirical results reveal that information security plays a significant role as an enabler, while loss aversion acts as an inhibitor of mobile payment adoption. Furthermore, the study uncovers the moderating influence of the herd effect on the relationship between Inertia and behavioral intentions.

This study was conducted in a specific region and may not be generalizable to other regions. Future studies could expand the sample size and scope to enhance the external validity of the findings.

This study offers practical implications for mobile payment service providers. Understanding the key enabling and inhibiting factors identified in this study can guide providers in designing and improving their services. Strengthening information security measures can help build trust among potential adopters, while offering incentives can mitigate the impact of loss aversion and encourage early adoption.

The findings of this study have social implications as they contribute to promoting the adoption of mobile payment systems. Increased adoption can enhance financial inclusion and stimulate economic development.

This study provides novel insights into the enabling and inhibiting factors of mobile payment adoption and highlights the moderating role of the herd effect. By shedding light on the influence of social norms on individual behavior in the context of mobile payment adoption, this study contributes to the existing literature and advances our understanding of this phenomenon.

After analyzing these uncountable benefits of digital or cashless payment, many European countries like Sweden, Finland and Canada has been trying to convert their payment system into cashless. Following these developed countries, the Bangladesh Government has taken a decision to transfer society as a cashless society by using information technologies for adopting the fourth industrial revolution over the world. Digital payment system is among the various options available for transforming a cashless society. First, this empirical study presents demographic information and digital payment characteristics on the basis of income levels. This study identifies influential factors of adopting digital payment systems. Finally, this study aims to justify how digital payments transform the Bangladeshi economy into a cashless society in developing countries.

The study was administered to a sample of 1,000 Bangladeshi customers who had engaged in online banking transactions for the purpose of acquiring items and services through both social media platforms in Google Form format and face-to-face interactions in hard copy format. Among these, 647 questions were deemed usable and were used for data analysis, where the response rate was 68%. The SmartPLS is used to create and validate the structural equation modeling model presented for the research, as well as to evaluate the hypothesized correlations between the different constructs.

This cross-sectional study conducted the extended technology acceptance model (TAM) with perceived security (PS) and personal innovation (PI) variables to identify the influencing adoption factors of digital payment systems. This study finds that perceived ease of use, PI and perceived usefulness have a favorable impact on individuals’ attitudes toward adopting digital payment methods (DPMs). The study also indicated that PS did not influence negatively the adoption of digital payment system. Besides this, the adoption of digital payment will help to transform society into a cashless society in the future.

Increasingly prevalent across the nation. Several variables are required to facilitate the transition toward a cashless society. This study exclusively focuses on DPMs. Additionally, the data has been obtained exclusively from a single urban area. The adoption of DPMs has become increasingly prevalent across the nation.

This study would help policymakers, marketers and bankers understand which factors affect digital payment infrastructure expansion. So, they can produce digital payment apps that are compatible with different devices, have fast transactions, are user-friendly, easy to use and highly secure to maintain good attitudes toward digital payment systems.

Few studies have examined how DPMs affect cashless societies in developing countries like Bangladesh. According to researchers, to the best of the authors’ knowledge, this is the first study to explore how digital payments affect cashless society in Bangladesh and raise awareness about it.

The study extended the TAM model to PS and PI. This paper is also unique in the conceptual arguments and the subject theme of the research area.

Recently, the Government of India has emphasized digital financial inclusion for promoting cashless transactions with a vision to transform India from a traditional cash-based economy into a cashless economy. Technology-driven payment apps are facilitated greater access to cashless financial services and improve the speed, efficiency, accuracy and effectiveness of financial transactions. This study aims to explore the determinants of quick response (QR) code mobile payment (m-payment) adoption intention among marginalized street vendors in India.

The proposed research model was tested using 320 responses from QR code m-payment users. An interview schedule was performed using the structured questionnaire from marginalized street vendors by adopting a purposive sampling technique. The proposed research framework of this study developed on the Unified Theory of Acceptance and Use of Technology (UTAUT). In addition to the existing variables proposed in the UTAUT model, three more variables have been added, namely, digital financial literacy (DFL), personal innovativeness (PI) and perceived trust (PT). Besides, the study used confirmatory factor analysis and structural equation modeling techniques to analyze the data.

This study confirms that factors such as performance expectancy, effort expectancy, facilitating conditions, PT and customers’ DFL are significant determinants of street vendors’ intention to use QR code m-payment services. However, social influence and PI have shown an insignificant relationship with adopting a QR code m-payment system.

The results provide insights for policymakers and service providers. Specifically, government and bankers design promotional campaigns emphasizing the ease of use, perceived benefits, security and faster business transactions to accept and use the QR code m-payment system to encourage prospective users to achieve a cashless economy.

Many prior studies have widely concentrated on m-payment adoption intention in India. However, only a few studies have attempted to examine the factors influencing the adoption of QR code m-payment services among merchants from emerging economies. There is a dearth of studies on QR code adoption from an unorganized sector perspective, specifically marginalized street vendors. Therefore, this study explicitly examines the extent to which the determinants of adoption intention toward QR code-based m-payment services among marginalized street vendors within the framework of the extended UTAUT model by incorporating DFL, PI and PT. The findings of this study contribute, theoretically and practically, to the existing literature.

The study intends to evaluate students’ intention to shift from cash payment to mobile payment system for academic fee payments through push, pull and mooring framework. Push factors comprise risk and service-related factors, pull factors consist of subjective and aspect-based factors and mooring factors include cost and cognitive factors.

Sample of the study consists of around 296 undergraduate and postgraduate students from different higher educational institutions located in India. The questionnaire for data collection comprises 21 Likert scale-based items distributed among seven constructs. Partial least square structural equation modeling is used to identify the significant factors influencing students’ intentions.

Five of the factors, namely, risk, service, subjective, aspect and cognitive significantly influence student’s intention to switch to mobile payment system for academic fee payments. Moderation analysis indicates that the impact of the push and pull factors on switching intention towards mobile payments has a more positive influence among male students.

This study is probably the only study that tested the specific push, pull and mooring factors influencing intention to switch to mobile payment from cash payment in the Indian education system based on the incentive, Fogg behavior and status quo bias theory for academic fee payment.

This research aims to develop a blockchain smart contract–enabled framework to resolve power imbalance problems in construction payment.

This research adopts a design science research method to develop the blockchain smart contract–enabled framework. The authors then develop a prototype system. Finally, the authors evaluate its performance in solving power imbalance-induced payment problems.

The results show that the prototype system can resolve power imbalance problems in construction payment by allowing project participants to make transparent and decentralized decisions that are self-enforceable by blockchain smart contracts.

This study provides theoretical explanations for how blockchain smart contracts can resolve power imbalances in construction payment; based on that, it proposes a novel blockchain smart contract–enabled method to rebalance the power of stakeholders in construction payment. Thus, it contributes to the body of knowledge on blockchain technology and construction payment.

This study moves beyond a conceptual framework and develops a practical blockchain smart contract system for resolving power imbalances in construction payment, strengthening construction project members' confidence in using blockchain technology.

The proposed blockchain smart contract–enabled solution helps mitigate negative social impacts associated with late payment and non-payment. Furthermore, the research maximizes trust among participants in payment processes to inspire collaborative culture in the construction industry.

This paper introduces a novel blockchain smart contract integrated method, allowing project stakeholders to resolve power imbalance problems in construction payment through decentralized decision-making.

Because the success of m-payment services depends on the enablers and barriers that affect user satisfaction, the present research explores the effects of perceived value and sacrifices on users' satisfaction with m-payment services. The predicted relationships among perceived value, perceived sacrifices, users' satisfaction, continuance intention, word-of-mouth (WOM), shopping effectiveness, quality of life (QOL) and stickiness were established based on the mobile technology acceptance model (MTAM) and the value-based adoption model (VAM).

A representative data sample of 430 Egyptian banking clients was analyzed to test the hypotheses using partial least squares-structural equation modeling (PLS-SEM).

The findings revealed that all perceived value constructs significantly positively affect users' satisfaction. Moreover, all perceived sacrifice constructs significantly negatively affect users' satisfaction. Users' satisfaction, in turn, has a significant positive effect on continuance intention, WOM, shopping effectiveness, QOL and stickiness with m-payment services.

This is the first study to examine several levels of m-payment outcomes, including m-payment, consumer and bank outcomes, based on the integration of MTAM and VAM models.

The current body of empirical research regarding the impact of trust in the cybersecurity commitment of institutions on digital payment usage has focused solely on a macro-level analysis, overlooking the intricate dynamics between institutions' cybersecurity commitments and the trust levels of digital payment users. In light of this limitation, this study aims to offer a more comprehensive understanding of this complex relationship.

A case study was conducted on digital payment users in India through the critical realist lens. To gather data, interviews and focus group discussions were conducted with digital payment users from various regions of the country.

The citizen-centric outcomes of the national cybersecurity commitment (performance and responsiveness) are the most prominent and impactful trust indicators. These outcomes play a crucial role in shaping digital payment users' perception and trust in the cybersecurity commitment of public institutions. Individuals' value positions also influence trust judgments, as it is essential to recognize the value tensions that may arise due to security implementation and their congruence with citizens' values.

The findings of this study have significant implications for policymakers. They are potentially an artifact of the security and perception of digital payment users and the cultural uniqueness of digital payment users in India.

The study proposes a holistic understanding of the relationship between institutions' cybersecurity commitments and the trust levels of digital payment users. It offers a qualitative evaluation of how digital payment users perceive and construe efficient information security management implemented by public institutions.

The purpose of this study is to examine the influence of perceived risk (perceived susceptibility and perceived severity), self-efficacy and individual differences (personal innovativeness and mobile payment knowledge) on consumers’ intention to use contactless mobile payment services (MPS). Additionally, it also empirically tested the moderating effect of hygiene consciousness in the proposed conceptual model.

The present research developed a conceptual model based on the health belief model (HBM) and diffusion of innovation theory (DOI) to empirically assess whether and how perceived risk, self-efficacy and individual differences influence consumer intention to use contactless MPS. The data was collected using the survey method from 251 smartphone users and analyzed with structural equation modeling. The moderating role of hygiene consciousness was studied in the relationship that self-efficacy and personal innovativeness shares with consumers’ intention toward contactless MPS.

The results of this study disclose that among all precursors of consumers’ intention toward contactless MPS, only perceived severity, self-efficacy, personal innovativeness and mobile payment knowledge positively affect consumers’ intention to use contactless MPS. However, the effect of perceived susceptibility on consumers’ intention toward contactless MPS was found to be non-significant. The results further depict that hygiene consciousness acts as a moderator in driving consumers’ intention toward contactless mobile payment services.

The HBM model and DOI, which incorporate perceived risk, self-efficacy, individual differences and hygiene consciousness, give light on the factors influencing consumer intention to use contactless MPS in a pandemic situation such as COVID-19. The study will provide useful insights to marketers on how to frame their strategies in the aftermath of pandemics, as the contactless mobile payment method may be perceived as a defensive behavior during and after pandemics.

The study will provide useful insights to marketers on how to frame their strategies in the aftermath of pandemics, as the contactless mobile payment method may be perceived as a defensive behavior during and after pandemics.

By uniting perceived risk, self-efficacy and individual differences with consumers’ intention toward contactless MPS in a conceptual model, along with examining the moderating role of hygiene consciousness, this work responds to the calls for upcoming research concerning mobile payment systems as means of future payment. Thus, it offers an understanding of particular consumer motivations that may guide consumers’ intention toward contactless MPS through the theoretical lens of HBM and DOI.