Determining consumers readiness to adopt cashless payment

The technology readiness index, or better known as TRI was used as a framework to determine consumers' readiness to adopt cashless payment and the moderating effect of gender. Gender has been identified as an important variable in adoption of cashless payment and its role in market segmentation and gender empowerment enhanced the needs of its inclusion. The results of the regression analysis indicate that optimism, innovativeness, convenience and compatibility drive consumers' adoption while discomfort, insecurity, perceived cost and perceived risk are inhibitors. In addition, gender was found to not have any moderating effect on consumers' readiness to adopt cashless payment. Given the significance of drivers and inhibitors, companies should construct advertising campaigns which focuses on emphasizing drivers while creating a solution for the inhibitors, which can in tum encourage consumers to enjoy the benefits of cashless payment. Results of this research provide insights on how to increase adoption and addresses the gender difference in cashless payment system.