Abstract

The mobile payment services markets are currently under transition with a history of numerous tried and failed solutions, and a future of promising but yet uncertain possibilities with potential new technology innovations. At this point of the development, we take a look at the current state of the mobile payment services market from a literature review perspective. We review prior literature on mobile payments, analyze the various factors that impact mobile payment services markets, and suggest directions for future research in this still emerging field. To facilitate the analysis of literature, we propose a framework of four contingency and five competitive force factors, and organize the mobile payment research under the proposed framework. Consumer perspective of mobile payments as well as technical security and trust are best covered by contemporary research. The impacts of social and cultural factors on mobile payments, as well as comparisons between mobile and traditional payment services are entirely uninvestigated issues. Most of the factors outlined by the framework have been addressed by exploratory and early phase studies.

Keywords: Mobile payments (m-payments); Literature review; Future research

Article Outline

1. Introduction

2. Framework for the literature review

3. Research method

4. Results of the analysis

4.1. Descriptive findings

4.2. Findings for the contingency factors

4.2.1. Changing social and cultural environment

4.2.2. Changing commercial environment

4.2.3. Changing technological environment

4.2.4. Changing legal, regulatory, and standardization environment

4.3. Findings for competitive factors

4.3.1. Consumer power

4.3.2. Merchant power

4.3.3. The traditional payment services

4.3.4. New electronic payment services

4.3.5. m-Payment market and providers

5. Discussion and conclusions

Acknowledgements

References