| Consumers in the United States have three payment options at a point of sale terminal purchase with a merchant: (a) pay with cash, (b) write a check, or (c) swipe and sign for the transaction with a debit or credit card. Consumers may be reluctance to accept changes in their daily routine with respect to payment options, which may impede acceptance of evolving payment methods like mobile and contactless cards (MCC). Hence, the purpose of this qualitative case study using the Technology Acceptance Model (TAM) was to examine the reasons given by consumers on why they are willing or unwilling to accept this alternative payment system. The selected participants were obtained via a signup sheet at PSCU for of this case study. After signing the informed consent form, the particpants were provided a link to Survey Monkey(TM). The participants of the case study represented a broad level based off education, age, marriage and work levels. The partcipants provided their responses to questions that gaugued their knowledge and willingness to try new payment technologies such as mobile and contactless card payments. The responses provided by the participants demonstrated that ease of use (PEO) and usefulness (PEOU) were primary factors in using new payment technologies. Security of the financial data was a factor in the use of new new payment technology as cosnumers have become more conscious of data breaches. Future case studies should be conducted to determine the impact on segements such as the underbanked or underserved markets. |
