The Swedish mobile Payment market: An analysis from a consumer’s perspective

The objective of this research is to understand how consumers perceive mobile payment services and the consumers’ maturity level to adopt mobile payments in the Swedish market. To reach our objective interviews were conducted asking about consumers experience with current payment methods and how consumers perceive mobile payment services. Questions from the interviews are derived from theories about technology adoption mainly from Diffusion of Innovations and Technology Acceptance Model. In addition questions about how consumers perceive mobile payment services are based on existing and concept based features. The results show that consumers are open to, and can even consider paying to use the mobile phone as a payment instrument. At the moment mobile payment services are either based on Near Field Communication (NFC) or Quick Response (QR) code technologies at Point of Sale(POS) purchases. Consumer perceive each payment solution differently; NFC based payments were perceived as more convenient while QR code were perceived as more secure. In addition mobile payment services have the potential to incorporate additional features that can increase its attractiveness, such as storing loyalty cards digitally and the ability to transfer moneybetween accounts. The maturity level among the consumers are in an early stage because their knowledge about mobile payment services is very low at the moment, due to that the interviewees did not consider themselves as early adopters when new technologie s are introduced