A Study of the Impact of Cultural Characteristics on Consumers’ Behavioral Intention for Mobile Payments: A Comparison between China and Korea

Abstract

The development and usage of mobile payments, a new type of electronic payment method that is more flexible and convenient compared to traditional payment methods, are uneven across different countries. This indicates that there may be a correlation between cultural characteristics of different countries and consumers’ intention to use mobile payments. This study aims to explore whether cultural characteristics have a moderating effect on consumers’ behavioral intention to use mobile payments in China and Korea. Based on the technology acceptance model (TAM), this study incorporates Hofstede’s five cultural dimensions theory (power distance, individualism–collectivism, uncertainty avoidance, masculinity–femininity) as moderating variables. In total, 306 questionnaires were distributed to Chinese consumers, and 305 questionnaires were distributed to Korean consumers. Structural equation modeling (SEM) was used to test the hypotheses. The study found that both Chinese and Korean consumers perceive usefulness to have a significant impact on their behavioral intention to use mobile payments, and that perceived ease of use also has a significant impact on perceived usefulness. However, there were differences in the models between the two countries, where perceived ease of use has a significant impact on behavioral intention to use mobile payments in China but not in Korea. Regression analysis was conducted on the cultural dimensions as moderators, revealing that uncertainty avoidance has a negative moderating effect on the relationship between perceived ease of use and behavioral intention to use mobile payments. Between-group chi-square difference tests were conducted on the structural equation models for both countries, and the results showed no significant differences in the moderation coefficients for uncertainty avoidance between China and Korea. Finally, based on the findings, recommendations are proposed for the development of mobile payments.