**6. Managerial implications regarding the adoption of mobile payments**

The use of payment tools has been related to our species since ancient times. In spite of this long established relationship, the adoption (involving implementation and use) of the new, modern payment systems in our current economic environment has greatly influenced the business scenario. Mobile phone payments can be considered as the most significant tool among the recent payment systems introduced in the market due to the relevance of wireless devices in our society, their simple accessibility, and the constant improvements in the technology associated with these new payment tools both for online contexts (mainly the Internet and social media) and traditional, "offline" applications such as swipe card readers, POS machines, etc.

In the past decades, the swift increase in the level of competitiveness and technological improvements involved in all commercial sectors, as factors which are becoming equally significant, has led to the development of a new communication strategy for companies and customers; this new channel evolved into a practical application known as e-commerce. In this sense, companies have been catering appropriately according to the respective demands of their business sector. Mobile commerce and the new mobile payment systems are relevant actors with a key role in the evolution of the market due to the widely extended use of mobile devices, especially smartphones, with the prospect of a high penetration rate in our society. For all these reasons, the business prospect for this particular sector is truly promising.

As observed from the data discussed earlier in this study, certain countries might not follow the general trends of the market; this appears to be the case regarding the market in Spain. Our research aims to identify the reasons for this situation from the perspective of the merchants. Research assessing the adoption and acceptance of the mobile payment systems is rather scarce and might improve future conceptions and prospects for the market of these new payment tools. According to the results obtained in this empirical analysis, we have outlined and proposed an appropriate research framework for merchant adoption of mobile payments. This is depicted in **Figure 6**.

In our opinion, on the basis of the results obtained from this research, the lack of information on the new payment tools significantly hinders their adoption. The development of proper information campaigns in this regard would help to overcome the barriers while also reinforcing the drivers affecting the final intention to use of mobile payment systems. This information should approach each and every one of the elements in the framework of mobile payment. In this sense, Dahlberg et al. [16] proposed that the relevance of mobile payments should be analyzed through Porter's Extended Rivalry Model [57] and the Generic Contingency Theory. With this in mind, we consider that the sources of this critical information should involve the

**Figure 6.** Managerial implications derived from the adoption of mobile payments.

results." Finally, the literature also includes the definition of perceived risk by Gerrard and Barton Cunningham [25], described as "the possibility that the use of an innovation could not

**6. Managerial implications regarding the adoption of mobile payments**

The use of payment tools has been related to our species since ancient times. In spite of this long established relationship, the adoption (involving implementation and use) of the new, modern payment systems in our current economic environment has greatly influenced the business scenario. Mobile phone payments can be considered as the most significant tool among the recent payment systems introduced in the market due to the relevance of wireless devices in our society, their simple accessibility, and the constant improvements in the technology associated with these new payment tools both for online contexts (mainly the Internet and social media) and traditional, "offline" applications such as swipe card readers,

In the past decades, the swift increase in the level of competitiveness and technological improvements involved in all commercial sectors, as factors which are becoming equally significant, has led to the development of a new communication strategy for companies and customers; this new channel evolved into a practical application known as e-commerce. In this sense, companies have been catering appropriately according to the respective demands of their business sector. Mobile commerce and the new mobile payment systems are relevant actors with a key role in the evolution of the market due to the widely extended use of mobile devices, especially smartphones, with the prospect of a high penetration rate in our society. For all these reasons, the business prospect for this particular sector is truly

As observed from the data discussed earlier in this study, certain countries might not follow the general trends of the market; this appears to be the case regarding the market in Spain. Our research aims to identify the reasons for this situation from the perspective of the merchants. Research assessing the adoption and acceptance of the mobile payment systems is rather scarce and might improve future conceptions and prospects for the market of these new payment tools. According to the results obtained in this empirical analysis, we have outlined and proposed an appropriate research framework for merchant adoption of mobile

In our opinion, on the basis of the results obtained from this research, the lack of information on the new payment tools significantly hinders their adoption. The development of proper information campaigns in this regard would help to overcome the barriers while also reinforcing the drivers affecting the final intention to use of mobile payment systems. This information should approach each and every one of the elements in the framework of mobile payment. In this sense, Dahlberg et al. [16] proposed that the relevance of mobile payments should be analyzed through Porter's Extended Rivalry Model [57] and the Generic Contingency Theory. With this in mind, we consider that the sources of this critical information should involve the

be safe."

128 Smartphones from an Applied Research Perspective

POS machines, etc.

promising.

payments. This is depicted in **Figure 6**.

main providers of mobile payment system and also, to a great extent, merchants interested in the new technology.

As for the companies providing mobile payment services (banks, financial entities, and external technology providers), they need:


As for merchants interested in the adoption of mobile payment systems, they need:

