Incentivising innovation: the moderating role of promotions in shaping millennials’ mobile payments adoption

The current study examines the factors impacting mobile payments (M-Payments) adoption in the presence of promotions as a moderator. Using primary data, a confirmatory factor analysis (CFA) and path analysis were used to examine the direct and indirect effects proposed in the research model. Moderation was tested using the Hayes PROCESS Model. Regression results show that security, benefits, hedonic motivation, and social influence are highly significant in explaining the M-payment adoption behaviour. Additionally, promotions positively moderate the relationship between adoption and security. Multi-group analysis showed that adoption could increase multiple folds with high levels of security and promotion. The results may prove more helpful in understanding the role played by offers and promotions in M-payment adoption among millennials.