Study On Adoption Behavior Of Wechat Payment Based On Utaut Model

With the rapid spread of smart phones and wireless Wi-Fi,the numbers of mobile payment users and market size of transactions are increasing.The market competition in China is intense.Thus,research for user adoption of mobile payment has become a great concern problem for the academic and social issues.However,most of the existing research always regards mobile payment as a general object to study.The study for a specific mode of mobile payment is less.Due to the short starting time of We Chat payment,it has a certain gap with Alipay.However,the potential of We Chat payment is huge.Based on this background,the paper selected We Chat payment as the object of study,investigated factors influencing the adoption of We Chat payment.Purpose of this study is:(1)to understand the current actual adoption behavior of We Chat payment;(2)to establish user adoption model of We Chat payment based on UTAUT model,exploring the impact factors and the degree of impact factors which affecting the user adoption of We Chat payment;(3)to explore the influence degree of We Chat payment’s social factor on adoption intention;(4)to explore the difference of impact factors with different gender,age,monthly disposable income and the level of education.(5)based on the innovation diffusion theory,the users are divided into early adopters and late adopters,to investigate whether has differences between the two on various factors;(6)based on the findings,to provide targeted strategies and recommendations for We Chat payment providers.This paper selects UTAUT model as the fundamental model,adding factors of interactivity and perceived entertainment,regarding gender,age,monthly disposable income,level of education and adoption groups as the moderator,to build user adoption model of We Chat payment.The results show that perceived entertainment,performance expectancy and effort expectancy has a significantly positive impact on the adoption of We Chat payment.The degrees of them are: perceived entertainment > performance expectancy > effort expectancy.However,social influence and facilitating conditions has no significantly impact on the adoption of We Chat payment.On the other hand,interactivity through perceived entertainment has a significantly positive impact on the adoption intention of We Chat payment.It indicates that the social factor of We Chat payment is an important aspect for the adoption of We Chat payment.In addition,for the interactivity perception of We Chat,over 18 years old group was significantly more than 18 years of age group.According to the research findings,the paper has the following recommendation.Firstly,in order to improve user’s effort expectancy,the operational process of We Chat payment should be optimized.Secondly,business development can be strengthened to improve user’s performance expectancy.Thirdly,using the social advantage of We Chat payment,more playing method of We Chat lucky money should be created.Finally,precision marketing can be carried out based on the group differences.