Assessing factors influencing intentions to use cryptocurrency payments in the hospitality sector

Title

Assessing factors influencing intentions to use cryptocurrency payments in the hospitality sector

Creator

Pillai R.; Preet R.; Sivathanu B.; Rana N.P.

Description

Purpose: The emergence of cryptocurrency has developed a new payment system that is changing how financial transactions happen in hospitality. Consumers/travelers have started experimenting with cryptocurrency payments in hotels and restaurants. However, extant research is lacking in understanding the consumer adoption intention of cryptocurrency payments. This study investigates the intention to use cryptocurrency payments in the hospitality industry. Design/methodology/approach: The conceptual model in this study is based on the Behavioral Reasoning Theory, and it explores the motivating and deterring factors influencing the adoption of cryptocurrency payments in the hospitality industry. A quantitative survey was conducted among 1,080 consumers to examine and confirm the model, with data being analyzed through the Partial Least Squares Structural Equation Modeling (PLS-SEM) method. Findings: The outcome of this work showed that the reasons for positively influence and reasons against negatively influence consumers attitudes and use intentions. Consumers values of openness to change positively influence the reasons for and do not influence the reasons against and attitude toward the use of cryptocurrency payments. Practical implications: This work contributes to practice by providing insights to customers (users/payee), hospitality managers (investors) and organizations/firms (receiving crypto payments) as well as to financial firms and the government. Originality/value: This research contributes to cryptocurrency payment adoption and behavioral finance literature. The research uniquely provides the adoption and inhibiting factors for cryptocurrency payment in an integrated framework in the hospitality sector. 2024, Emerald Publishing Limited.

Source

Information Technology and People

Date

2024-01-01

Publisher

Emerald Publishing

Subject

Behavioral reasoning theory; Cryptocurrency payment; Hospitality; PLS-SEM; Use intention

Coverage

Pillai R., Department of Management, Pune Institute of Business Management, Pune, India; Preet R., Department of Management, Pune Institute of Business Management, Pune, India; Sivathanu B., School of Business and Management, Christ University, Bangalore, India; Rana N.P., Queen's Business School, Queen's University Belfast, Belfast, United Kingdom, Chandragupt Institute of Management Patna, Patna, India

Rights

Restricted Access

Relation

ISSN: 9593845

Format

Online

Language

English

Type

Article

Identifier

https://doi.org/10.1108/ITP-07-2023-0673

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85200560638&doi=10.1108%2fITP-07-2023-0673&partnerID=40&md5=b8912d6b759bd0b812b68d800c4171e0