User Awareness Design for Electronic Money User Using Protection Motivation Theory and NIST 800-50 Framework

Abstract

Electronic money has emerged as the payment method. It becomes more popular because it is convenient and ubiquitous. However, the popularity has caused new security threats for the the user of electronic money. Personal data and financial information are the main target of the threats. Individuals need to protect and have certain responsibilities regarding their personal data and financial information used for electronic money services. Technology alone is unable to prevent the threats. Human behavior also becomes crucial factor to protect people against the threats and plays essential role in safe guarding personal data and financial information. This study uses Protection Motivation Theory (PMT) as a theoretical framework to empirically test why people do precautionary behavior on electronic money transaction. PMT is a social-cognitive model to predict and explain prevention behavior. Empirical research is conducted using survey methodology and collecting data from 186 respondents using online forms. Partial Least Square structural equation modelling provides support for factors influencing protection motivation in electronic money context. The results provide support for the use of threat and coping appraisal, in particular perceived security vulnerabilities, perceived security threat and perceived response efficacy to influence precautionary behavior in the context of electronic money. Those results contributes to the design of user awareness programs using NIST Special Publication 800-50. The awareness programs aimed at precaution behavior, thereby empowering electronic money user to protect themselves