Factors deterring the use of mobile payment among Generation Z

Abstract This quantitative research investigates the adoption behavior of mobile payment (m‐payment) services among Generation Z individuals in Thailand. Drawing upon the Theory of Planned Behavior (TPB) and Technology Acceptance Model (TAM), the study employs structural equation modeling to analyze a sample of 350 respondents. Extending the TAM framework, the article incorporates deterring factors to provide valuable insights into m‐payment adoption behavior. The findings reveal that the deterring factors, that is, perceived costs, perceived risk, and technology anxiety, negatively impact behavioral intention. The results suggest that concerns over financial burdens, potential security threats, and apprehension towards new technologies may deter adoption.