Analysis of Users’ Behaviour and Adoption Trends of Social Media Payment Platforms

Abstract

The recent proliferation of Electronic Commerce (E-commerce) has been further escalated by multifaceted emerging payment solutions such as cryptocurrencies, mobile, peer-to-peer (P2P) and social media payment platforms. While these technological advancements are gaining tremendous popularity, mostly for their ease of use, various impediments such as security and privacy concerns, societal and cultural norms etc. forbear the users’ adoption trends to some extents. This article examines the current status of the social media payment platforms as well as the projection of future adoption trends. Our research underlines the motivations and obstacles to the adoption of social media platforms.

Keywords: Diffusion of Innovation, E-Commerce, Mobile Payment Platform, Social Media Payment Platform, Technology Adoption Trend, Users’ Behaviour