Adoption of electronic payment among entrepreneurial elderly : a proposal for an instrument to measure its adoption in Chile

Abstract

Entrepreneurship has grown substantially in our society, and older people are no strangers to this activity. However, few studies aim to understand the dimensions of this behavior in this population. Electronic payment is an essential element within the digital transformation associated with business, and its adoption is required to participate in the current economy. In this context, the objective of this study is to explore the perceptions of entrepreneurial older people about the use of electronic payment. To this end, qualitative research was carried out based on the Unified Theory of Acceptance and Use of Technology (UTAUT). In particular, through a focus group of 25 elderly entrepreneurs in Chile, the most outstanding beliefs regarding this technology were elicited. To guarantee the reliability of the results, content analysis process was carried out independently by two researchers and validated by two experts. Two hundred fourteen different answers were obtained and analyzed in successive stages, summing up in 21 items. This result is the basis for the proposal of a measurement instrument. The most relevant results indicate that entrepreneurial older people believe that young clients approve the incorporation of electronic payment in their businesses and would feel more capable of adopting it with the support of their families. On the other hand, older people believe that training is the most critical requirement for adopting this technology. Studies of this nature contribute to generating a body of knowledge in an age group where the digital divide is recognized. Understanding why older person incorporates digital technology into their businesses is socially and economically relevant. The implications of this study would allow increasing the incorporation of these payment technologies in this population segment by developing actions that positively influence the variables that best explain the adoption. It is proposed that future studies be oriented towards the quantitative validation of the instrument and its use in other contexts within Latin America.