Evaluation of M-Payment Technology and Sectoral System Innovation—A Comparative Study of UK and Indian Models

Author: Heather Webb, Shubo Liu, Min-Ren Yan

Provenance: Electronics

Published on 04 November 2019

 

Abstract

The paper constructs a sectoral system of innovation model specifically for the mobile payments (m-payments) sector. Both the UK and Indian sectoral system of innovation were studied in regards of the actors involved in providing the m-payment service with an emphasis on emergent business models. We integrated open innovation and Ogle’s ideas into our model and demonstrated the importance of active agency in shaping innovation systems, for example in leveraging existing social networks. The research draws upon original interviews with companies and regulators in both India and the UK. Our overall conclusion is that the m-payments sectoral system of innovation in India is more customer-oriented and far-reaching as compared to the practices in UK. It concludes that no matter the context, the importance of integrating firms’ activity into integrated service systems in demand-driven innovation is key for success.

 

Keywords

Sectoral system of innovation, Mobile payments, India, Active agency, Business model, Open innovation

 

Website

https://doi.org/10.3390/electronics8111282