LITRATURE REVIEW

PERSONALITY-BASED FACTORS AND TECHNOLOGY ADOPTION

To some extent, technology adoption models have recognized the value of personality
related variables in predicting intentions to use new technology. Personality traits are
generally conceptualized as underlying individual characteristics that influence human
behaviour in a consistent manner across a variety of situations. We suggest the use of
broad personality traits, such as the Big Five, that have been validated and used to predict
behaviour across situations in a large number of studies. Thus, in order to examine the
role of personality traits that may impact trust and adoption behaviour for mobile wallet
services, we propose the use of the Big Five personality framework. Within the field of
psychology, the Big Five (McCrae and Costa, 1987) is the most widely accepted
personality trait. It consists of five factors: Extraversion, Neuroticism, Agreeableness,
Conscientiousness and Openness to experience.

THE BIG FIVE PERSONALITY

Extraversion can be defined as being focused on the outside world.
Extraverts like to be in other peoples company. Because they are focused on the outside
world, are more sociable, careless, and adapt to change faster, it can be argued that they
will be more likely to trust e-retailers, especially with respect to information practices.
Neuroticism is characterized by emotional instability, pessimism, and low self-esteem.
People high in neuroticism often perceive that they have an unfavourable position in
transaction processes. They feel that they have no control. Perceived low control is
observed to have a negative influence on trust.
People scoring high on Agreeableness have positive beliefs toward others and appreciate
their values and convictions. In contrast, people who score low on agreeableness have
little respect for others interests and well-being and are less concerned with social norms.
It is thought that people having respect for others also believe that others have respect for
them. Therefore, people high in agreeableness are expected to be more trustful.

People scoring high on conscientiousness are thought to be responsible, dutiful, and

trustworthy. In addition, they tend to be more serious and cautious in making decisions.
People who score low on conscientiousness will be more likely to trust and hence be more
trustful. Alternatively, people scoring high on conscientiousness expect others to be
conscientious also and hence they are more likely to trust. Here, however, we assume that
the first argument will hold.

Openness to experience is characterized by open mindedness. People high in this are

more likely to make liberal decisions, in contrast to people who are low in it and tend to
make more conservative and moderate decisions. More openness leads to more
willingness to embrace new concepts and be more careless with respect to new situations
and experiences. Thus, people with a high openness to experience are more likely to trust.
FACTORS INFLUENCING THE ADOPTION OF MOBILE WALLET SERVICES.

Trust

For an effective acceptance of e-purchasing, the e-retailers need to understand the consumers
sensitivity towards the ecommerce trust. Currently the most important ones with respect to
ecommerce and e-retailing are security, privacy, and consumer protection issues. (TRUST).
Trust is central to any commercial transaction, whether conducted in the conventional way (in
a retail outlet) or over the Internet (by means of a website). Trust can trigger increased
purchasing to the extent that it reduces the complexity and perceived risks of purchasing
(Geffen, 2000). Trust increases the probability of (re)purchase, which is much more
important in an online situation than in an offline situation. Without consumers trust, eretailing will never reach its full economic potential (Ferraro, 1998). Online, the parties do
not have direct physical contact and the product cannot be seen or touched. The buyer does
not even know if the retailer actually owns the product and the seller cannot always be sure
that payment will be received Trust is a mind-set, which encourages a person to take risk
because of positive expectations. But, how exactly are these positive expectations formed? Is
trust also influenced by personality traits? Here an attempt to identify the set of psychological
antecedents of consumer trust in e-commerce is made. It outlines the personality-based
factors and technology adoption and then explains personality-based factors and trust in ecommerce.

Perceived Usefulness (PU)

Perceived usefulness is defined as the degree to which a person believes that using a
particular system would enhance his or her performance Several researchers have argued
that perceived usefulness will have a positive effect on consumers trust in e-vendor and in ecommerce .The usage of m-commerce is strongly driven by the usefulness of mobile service,
which includes ubiquity, personalization, localization timeliness and network stability.
Logically, if the technology is more useful, it will positively influence consumers to adopt.

Perceived Ease of Use (PEOU)

It is generally accepted that perceived ease of use has a significant and positive relationship
with user intention to adopt new technology. Perceived ease of use is defined as the degree

to which a person believes that using a particular system would be free of effort (Davis,
1989). As the usage of m-commerce will be easy and free of efforts consequently consumers
intention to adopt m-commerce will be positively influenced.
External perception-based factors mean those factors which affect the consumers belief
externally about the technology. Technology Acceptance Model (TAM) as well as Unified
Theory of Acceptance and Use of Technology (UTAUT), pays attention on users external
perceptions about technology.
Perceived Risk (Risk)
Perceived risk can be described as a consumers belief about the possible undefined negative
outcomes from the online transaction. Trust is defined as the willingness, in expectation of
beneficial outcome while risk is defined potential of loss (an undesirable outcome) resulting
from a given action or activity. So we can say that trust and risk are negatively associated
with each other.
Social Influence (SI)
Social influence occurs when ones emotion, opinion or behaviours are affected by others.
Study argues that besides family and friends, mass media also influence the consumers
decisions to adopt m-commerce such as television, radio, magazines, newspapers and the
internet are potential media capable of influencing the consumers decisions to adopt mcommerce.
Intention to Use Mobile Wallet Services:
Individuals intention to perform a given act which one can predict corresponding behaviours
when an individual acts voluntarily. Besides that, intention is the subjective probability of
carrying out an action and also its cause. Thus, intentions show the motivational factors that
influence behaviour and are indicators of how hard people are willing to try and the effort
they put in to engage in an action. Also, it was found that behavioural intention is to be the
main factor of individual mobile services usage and that usage intentions are rational
indicators of future system use. UTAUT Influencing the Behavioural Intention to Adopt
Mobile Apps and its services. Performance Expectancy (PE) PE is the degree to which users
gain benefits in using a technology while carrying out activities that perceived usefulness has
a positive influence on Intention to use online mobile services.

Facilitating Conditions:
FC is the perception that organisational and technical infrastructure exists to support the use
of technology. Members of current generation can use gadgets without referring to the user
manual, and also adapt the current technologies easily and make it a routine.

Technology Acceptance Model and Mobile Payment

A mobile payment procedure is, in essence, an information technology. As such, intentions to
use mobile payment procedures should be explained in part by the TAM introduced by Davis
[Davi89]. Moreover, these procedures are functional services adopted for utilitarian reasons.
Thus, the model was chosen as an appropriate basic model in this study. The TAM is at
present a preeminent theory of technology acceptance in Information System (IS) research.
Numerous empirical tests have shown that TAM is a robust model of technology acceptance
behaviours in a wide variety of IT. Even though TAM was applied to study work-related
activity, the theory is applicable and has been successfully applied to diverse nonorganizational settings including several fields of mobile commerce. According to the TAM,
perceived usefulness (PU) and Perceived Ease of Use (PEOU), Both constructs influence on
ones attitude toward system usage, which influences ones behavioural intention to use a
system. The more useful and easy to use is the mobile payment procedure, the more will it be
used. According to the classic TAM research [Davi89], perceived ease of use also has a direct
effect on perceived usefulness.