Abstract
Purpose
This study aims to focus on exploring the role of fear of missing out (FOMO) in the technology adoption context, whereby the bottom-of-the-pyramid (BOP) segment was studied to explore the factors responsible for the development of behavioural intentions (BI) to use unified payments interface (UPI), a disruptive technological phenomenon in the mobile payment systems field.
Design/methodology/approach
A mixed-method research approach involving both qualitative and quantitative methods was used. Initially, qualitative data obtained through interviews with UPI’s BOP users were subjected to thematic analysis, leading to the identification of eight factors and the construction of a conceptual model. Subsequently, 354 responses were gathered, and empirical analysis was conducted using structural equation modelling in AMOS 23.0.
Findings
Eight factors, including personal and social benefits, perceived security risk, socio-cultural influences, governmental influence, usability, psychological inertia, perceived value (PV) and FOMO, were discovered. The quantitative examination confirmed the validity of the conceptual model in the BOP context, explaining 51% of the variance in BI. FOMO and PV emerged as robust indicators of UPI adoption, with PV significantly regulating the impact of FOMO.
Originality/value
To the best of the author’s knowledge, this study is one of the first to explore what drives BOP users in an emerging economy to adopt UPI. The conceptual model it presents contributes to the advancement of technology adoption literature by incorporating FOMO alongside newly identified BOP-specific factors.