ABSTRACT Cryptocurrencies are modifying the very nature of how travelers use and manage payment systems. Bearing in mind that cryptocurrencies in tourism and hospitality are solving the issue of isolation of money and liquidity, this study explored travelers’ adoption of cryptocurrency payments in the South Korea and China context. The originality of the present study lies on introducing risk, security, and attitude variables into the Technology Acceptance Model (TAM) and the Unified Theory of Acceptance and Use of Technology (UTAUT) model. We found that perceived usefulness, perceived ease of use and security are antecedents of attitude, while attitude, performance expectancy, effort expectancy, social influence and facilitating conditions have significant effect on intention to use cryptocurrency payments in tourism. We also outline the significant moderating effect of age and gender on travelers’ adoption of cryptocurrency payments. This study can help policy makers to understand the utility of cryptocurrency payments in tourism.
In contrast, H10aC, H10bC, H11aC, H11bC H11cC and H11dC were not supported.
id: 9518d3014da37dd93543c53d05ac6550 - page: 10
4.3. Indirect and total effect evaluation We examined the indirect effects of the generated structural equation model. A significant indirect effect between perceived usefulness (CHI: = 0.234, p < .01; KOR: = 0.123, p < .05) and ease of use (CHI: = 0.376, p < .01; KOR: = 0.221, p < .01) on intention to use were revealed for both Chinese and South Korean participants. In addition, there was a significant indirect effect between perceived security (CHI: = 0.351, p < .01; KOR: = 0.115, p > .05) and intention to use only for Chinese participants. In contrast, there was no significant indirect effect for both Chinese ( = (cid:0) 0.014, p > .05) and South Korean participants ( Table 3 Results of confirmatory factor analysis of the structural model. CHI(n = 355) KOR(n = 329)
id: ece7a60adb2fc9fac8b9885bed5cc722 - page: 10
Measurement items Risk1 Risk2 Risk3 Security1 Security2 Security3 Usefulness1 Usefulness2 Usefulness3 Easy of use1 Easy of use2 Easy of use3 Attitude1 Attitude2 Attitude3 Performance expectancy1 Performance expectancy2 Performance expectancy3 Effort expectancy1 Effort expectancy2 Effort expectancy3 Social influence1 Social influence2 Social influence3 Facilitating conditions1 Facilitating conditions2 Facilitating conditions3 Facilitating conditions4 Intention to use1 Intention to use2 Intention to use3 0.940 0.943 0.938 0.841 0.827 0.825 0.775 0.791 0.771 0.881 0.873 0.869 0.708 0.742 0.742 0.738 0.771 0.738 0.776 0.783 0.730 0.731 0.802 0.766 0.705 0.885 0.881 0.883 0.878 0.887 0.885 0.883 0.858 0.869 0.947 0.924 0.896 0.828 0.810 0.890 0.793 0.797 0.810 0.904 0.893 0.899 0.866 0.885 0.844 0.883 0.864 0.835 0.863 0.941 0.911 0.769 0.802 0.876 0.856 0.839 0.765 0.793 5. Discussion and implications
id: 852055b84048cf543ff06b383283863d - page: 10
Cryptocurrency is digital revolution that is changing the future of money and payment systems in tourism and hospitality sector by interlinking on a blockchain international travelers and tourism and hospitality stakeholders. Cryptocurrencies role in travel and tourism and hospitality services is to provide frictionless blockchain-based mechanisms for payments, transparent transactions, financial stability, liquidity, scalability and fast and cheap cross border payments. Furthermore, cryptocurrencies are solving real tourism and hospitality related problems such as absences of opportunity to strong currency, or friction for remittance initiatives directed to reduce poverty in various touristic destinations. Consequently, the aim of this study was to evaluate behavioural determinants affecting travelers intention to use cryptocurrency payments in tourism in the South Korea and China context. The study encompassed the following variables: perceived usefulness, perceived ease of use,
id: 0076f93b75de7dfeb353a7240fb43f4f - page: 10