Drivers of Mobile Payments Acceptance: The Impact of Networks Externalities

Mobile payment has become increasingly popular due to the widespread use of smartphones and their applications. However, its adoption in African countries has been limited, despite its potential to simplify our lives. This study aims to enhance our understanding of the factors that affect the acceptance of mobile payment in Nigeria. To achieve this, the paper explores the impact of "network externalities" in addition to traditional technology acceptance factors. The study hypothesizes that the key drivers of mobile payment acceptance are performance expectancy, effort expectancy, social influence, trust, and network externality. The research findings suggest that while traditional drivers still play a role in customers' willingness to adopt mobile payment, network externalities have the strongest impact. Although the results did not support the influence of effort expectancy, the paper provides recommendations for future research.