Mobile Payment Adoption: Barriers for Baby Boomers in Malaysia

Mobile payment has been defined by many as the employment of wireless and other such technologies to pay for goods, services, and bills through mobile devices. While this method of payment has increased in popularity in Malaysia, its adoption rate among Malaysians categorized as baby boomers has not been as promising even though this group of people has high levels of spending. Unfortunately, the adoption of such payment methods has been the prime focus of many recent studies in this area, and this has consequently caused many scholars to overlook resistance. Hence, this study addresses the gap by utilizing an extended Innovation Resistance Theory. With this theory, variables such as usage, value, risk, tradition, image, as well as information barriers are used to comprehensively examine the behavioral intention of baby boomers to adopt mobile payment. A survey was conducted and 310 usable responses were collected from baby boomers across Malaysia. These participants had very limited to no experience with mobile payment. The data was then analyzed and it was found that barriers included in this study have significant relationships with the behavioral intention of baby boomers in Malaysia to adopt mobile payment. The present study provides contributions to many stakeholders to encourage Malaysian baby boomers to use mobile payment services.