Last Updated on October 20, 2023 by Fiza Khurram
The adoption of innovative payment methods is redefining the landscape of financial transactions in an era characterised by rapid technology breakthroughs. Maleeha Akhtar and Mubasher Nazir from the Hailey College of Banking & Finance at the University of the Punjab did a landmark study on the acceptance of facial recognition payment among the Pakistani population.
The study recognises the enormous impact that technology has on daily life as it progresses, particularly in the field of online payments. It offers light on the difficulties that scholars and managers confront when attempting to comprehend attitudes towards developing technologies, particularly in the age of Industry 4.0.
The study’s goal is to identify the elements that influence the acceptance of facial recognition payment methods among Pakistani clients. Key characteristics such as felt delight, personal innovativeness, supportive conditions, coupon availability, perceived simplicity of use, perceived utility, and overall attitude towards technology usage are highlighted in the findings.
One notable finding is that gender has a considerable impact on the acceptability of new technologies, particularly in the context of facial recognition payments. The expanded Technology Acceptance Model (TAM) is useful in assessing and predicting community members’ intentions to use technology.
The study highlights the practical and theoretical importance of elements such as coupon availability and favourable conditions, demonstrating distinct effects on men and women. These insights can help managers and scholars navigate the changing terrain of technological adoption.
In summary, as the world accelerates towards a more digital future, knowing the intricacies of technological acceptance becomes increasingly important. This study not only explains the intricacies, but it also gives a road map for future endeavours in the ever-changing world of payment technology.
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