Security perception in the adoption of mobile payment and the moderating effect of gender

Abstract

PurposeThe mobile payment system has changed payment patterns and has the potential to improve people’s quality of life and increase the bank’s efficiency. In return, the risks and trust factors inevitably led to increased challenges and become a major concern in the adoption of mobile payment service. Yet, little is known about how risk and trust factors can affect the adoption of mobile payment. Hence, this paper aims to come into contact to solve these issues in the context.Design/methodology/approachA comprehensive research model that reflects the customer satisfaction and loyalty to the adoption of mobile payment services is developed and empirically tested using exploratory and confirmatory factor analysis and structural equation modeling.FindingsFindings reveal that the perceived risk has a significant negative impact on perceived trust and customer satisfaction. Perceived trust is the most important variable in building customer satisfaction, and customer satisfaction is the reasonable predictor of customer loyalty. In addition, gender differences moderate the adoption of the mobile payment service.Originality/valueThe results of the study hold several implications for scholars in the field of technology adoption on financial transactions and offer valuable managerial insights to design their mobile payment adoption strategies to pursue greater acceptance and diffusion of this new payment system.