DETERMINANTS OF ADOPTION OF MOBILE MONEY PAYMENTS TECHNOLOGY IN THE HOSPITALITY INDUSTRY IN KENYA
Abstract
Opportune adoption and suitable use of easily and extensively accessible mobile money payment technology in Kenya is certainly one opportunity that may help the country in achieving the digital opportunities currently available. Despite the fact that new and interesting possibilities have been introduced by mobile phone technology, the unique mobile subscriber penetration and mobile money payment rate in Kenya remains well below the 50% global threshold. Hospitality industry for instance, adoption of mobile money payments technology is perceived as the act of creating and popularizing new or reformed money payments technology which facilitates access to transactions as well as means of payment. This study aimed to establish determinants of adoption of mobile money payments technology among firms in the hospitality industry with focus on Juja Sub County. The study adopted a descriptive survey design. The target population for the study consisted of 42 licensed hotels in Juja Sub County. The findings of the study revealed that various indicators of cost concerns such as reduction in initial investment costs, low intra-transaction costs and costs of servicing, low costs incurred to run the technology as well as reduced cost of complementary gadgets leads to significant improvement in adoption of mobile money payments technology. The study results also indicated that security concerns positively and significantly influences adoption of mobile money payments technology in the hospitality industry. The study recommends that the hospitality businesses in Juja Sub-county should focus on adopting mobile money payment platforms with low initial investment costs, low intra-transaction costs and costs of servicing, low costs incurred to run the technology as well as reduced cost of complementary gadgets. The study also recommends that there is need to ensure that security concerns of the payments technology such as confidentiality authentications, integrity of data, and anonymity of the customers’ details, privacy of the customers’ details and non-repudiation aspects of the technology.
Key words; Cost concerns, Security Concerns, Technology adoption, Adoption of mobile money payments technology, hospitality industry
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DOI: http://dx.doi.org/10.61426/sjbcm.v5i2.752
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