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Nowadays, the use of mobile/smartphones has become an indispensable habit in people’s daily life (Bui et al., 2020; Pan et al., 2022). The tremendous developments in information, communication, and Internet technologies are contributing to the integration of many new functions and utilities into mobile phones, making them a driver for mobile commerce’s growth (Moghavvemi et al., 2021; Shankar, 2022). Mobile commerce is an evolutionary form of e-commerce in which transactions and interactions between customers and businesses can be conducted anywhere, anytime (Lee & Rha, 2016). Mobile commerce can be represented by mobile advertising, mobile gaming, mobile entertainment services, mobile education, mobile offices, and mobile payment (Gao & Waechter, 2017). Mobile payment is considered the catalyst for mobile commerce’s other applications to grow and develop (Liébana-Cabanillas et al., 2014).
Mobile payment can be understood as any payment in which a mobile device, such as a mobile phone, personal digital assistant, tablet or any other device connected to the wireless Internet is used to initiate, authenticate, and confirm a transaction of financial value in exchange for goods and services (Chandra et al., 2010). In other words, mobile payment is not limited by space and time, facilitating interactions and exchanges of goods and services between entities in the economy (Shankar & Datta, 2018). The purchase and sale and exchange of services related to music, movie, travel, hotel, restaurant, entertainment, and others can be completed in a convenient, efficient, effective, and easy way with the support of mobile payment (Thakur, 2013).
Mobile payment is also referred to as mobile, virtual, digital or mobile wallets (Koenig-Lewis et al., 2015). Mobile payment tends to gradually replace other forms of payment, such as cash, checks, credit cards, and debit cards (Oliveira et al., 2016). Mobile payment can be distinguished from several other services, such as: Mobile ordering, where a mobile device is used to initiate an order, but not for payment; mobile delivery, where a mobile device is used to receive digital services; mobile authentication, where a mobile device is used to authenticate a user; mobile banking, in which a mobile device is used to access mobile banking functions, to pay bills related to electricity, water, insurance or account transfers (Humbani & Melanie, 2019).