Potential Impact of Perceived Security, Trust, Cost and Social Influence on M-Commerce Adoption in a Developing Economy

The rapid penetration of mobile telephony in developing countries has opened up new, innovative ways of conducting
business today. However, the uptake of m-Commerce by businesses in this region is still being hampered by factors such
as security and trust. This is because, while efforts are being made to address real concerns associated with these factors, the presence of perceived risks is limiting the impact of these efforts. Therefore, considering that there are various factors that
influence m-Commerce adoption in developing countries, this paper will focus on addressing four m-Commerce adoption
factors – security, trust, cost and social influence. Within the paper, various recommendations for addressing these issues are
made such as creating awareness of security features among customers; and developing appropriate promotional and pricing
strategies that can attract price conscious customers. Also, the paper discusses practical steps being adopted by businesses in
Nigeria to address these four factors such as the use of Pay on Delivery service, Celebrity endorsements, etc. Potential impacts
of addressing these factors includes customer loyalty, increased profit and more information about customers.