Technological Adaption for SMEs : Implications of a Cashless Society

Abstract: Purpose – The purpose is to develop a greater understanding of what is requested by customers with regards to e-commerce and mobile payments and how managers attitude can affect the technological adaption process. Furthermore, a suggested framework will be presented on how SMEs can adapt to these changes. Problem – The move towards the cashless society has changed the business environment and increased the demand for mobile payments and e-commerce. The transition to implement new technologies requires resources in terms of time, money and knowledge. Therefore, this process can be challenging for SMEs. Design-Methodology-Approach – Primary data is collected through case studies and secondary data from previous research conducted. Two SMEs within the retail business in Jönköping is investigated using semi-structured interviews. The combined data is analyzed together with previous literature within the field. Findings – The findings show that customers’ demand of e-commerce and mobile payments has increased. A positive correlation between managers’ attitude towards new technology and the implementation process is found. To adapt to these technological changes, it is important for SME managers to invest equally in knowledge and technology.