NFC, Wearables and QR Code in POS Payments: Determinants of Adoption of the Leading Mobile Payment Technologies in Europe

Digital technologies are increasingly important in the European payment services market. The study examined NFC mobile payments, wearables payments, and QR code payments, to determine the potential for development in the European market. The paper aims to explain the factors determining consumers' intention to use or reject these technologies following the TAM methodology. Within the study, a pan-European survey using the CAWI method was conducted on a sample of n = 5,504 respondents from 22 countries. Quantitative analysis was performed using logit models. The results confirmed that the most important, positively influencing factors are the Perceived Usefulness and Perceived Ease of Use of studied payment methods. Moreover, the preference for anonymity and trust of service providers impact the intention to use mobile payment technologies. It turned out that education level and knowledge of technology play an essential role. The study showed that Europe has the market space for all three mobile payment technologies. However, NFC payments have advantages in the European market due to consumers' declared interests and widespread acceptance infrastructure among merchants.