Factors Affecting the Adoption Intention of New Electronic Authentication Services: A Convergent Model Approach of VAM, PMT, and TPB

This study empirically analyzes factors affecting the adoption and recommendation intentions for next-generation electronic authentication services based on a convergent model of the value-based adoption model (VAM), protection motivation theory (PMT), and theory of planned behavior (TPB). As a result of the analyses, perceived benefits and perceived sacrifices (based on the VAM), perceived threats (based on the PMT), and adoption motives (based on the TPB) are found to significantly impact the adoption and recommendation intentions. The verification results demonstrate that all factors (and sub-factors) — perceived benefits (perceived usefulness and enjoyment), perceived sacrifices (technicality and perceived fee), perceived threats (perceived susceptibility and severity), and adoption motives (adoption attitude, subjective norm, and perceived behavior control) — have a significant effect on adoption intentions. Further, all variables and sub-factors, except for technicality in perceived sacrifice, have a significant effect on recommendation intentions. This study provides theoretical and practical guidelines that are helpful for future development, dissemination, and promotion strategies of new electronic authentication technologies demanded and expected by most financial consumers. At the same time, it verifies the validity and rationality of the convergent model based on the three theories, thereby presenting an in-depth and expanded methodology for theoretical model application.