Barriers and opportunities to the adoption of innovative technologies: An empirical study on the relationship between contactless payment and consumers with an extended Technology Acceptance Model

With the rapid increase in digitalisation today, the adoption of innovative technologies, such as contactless payment systems, holds critical importance for both consumers and businesses. This study examines, through an extended Technology Acceptance Model (TAM), the factors influencing the adoption of contactless payment technologies from the perspective of consumer behaviour using an extended TAM. In the model tested using structural equation modelling (PLS-SEM), the relationships between perceived ease of use, perceived usefulness, perceived risk, service quality, perceived trust, social value, brand experience, brand preference, satisfaction, and intention to reuse were empirically analysed. Additionally, this study investigated the mediating role of satisfaction in the relationship between brand experience, brand preference, and intention to reuse. The findings revealed that perceived ease of use, perceived trust, and service quality have a significant and positive effect on brand experience. Brand experience and brand preference have a substantial and positive impact on user satisfaction. Furthermore, satisfaction plays a crucial mediating role in the relationship between brand experience, brand preference, and the intention to reuse. These results demonstrate that user satisfaction is a crucial factor in influencing consumers' intentions to reuse contactless payment technologies. The lack of expected significant effects of perceived risk and usefulness highlights the importance of contextual factors in technology adoption. While this study offers critical theoretical contributions to the technology acceptance literature, it also provides practical recommendations for enhancing user experience and satisfaction in the financial technologies (fintech).