What Drives the Use of M-Payment? An Empirical Study About Alipay and WeChat Payment

With the development of e-commerce and technology, a new payment method, mobile payment, is widely used. The purpose of this study is to investigate the factors affecting consumers' adoption of mobile payment. To increase the explanatory power of the model, we propose an extend technology acceptance model (TAM) containing more factors. Specially, we divide perceived risk into two main kinds, perceived financial risk and perceived information risk, to study the different mechanism. To test our model, we conducted an online survey and received 295 valid questionnaires. The result shows that perceived ease of use and perceived trust have a positive and significant impact on consumers' intention to use mobile payment. Further, we find perceived compatibility have a positive and significant impact on perceived ease of use. Beyond our expectation, perceived information risk has a positive impact on both use intention and perceived usefulness.