Purpose This study aims to explore the development of trust in relation to security and privacy concerns, as well as the influence of perceived risk on the intention to use e-wallets. The research focused on the Colombian context because of its characterization as an underdeveloped financial system that has experienced considerable security and privacy violations in recent years. Additionally, this geographical area is relatively under-researched, and the target demographic for this investigation was Generation Z, given their pivotal role in driving the adoption of e-wallets. Design/methodology/approach Based on measurement scales that had already been tested in the academic literature on mobile payment systems, a questionnaire was developed and distributed electronically. A total of 424 responses were obtained from young Colombians. Structural equation modeling (SEM), specifically the PLS-SEM method, was used to process the data to study the explanatory and predictive power of the proposed model. Findings The findings revealed that security and privacy have a positive and significant effect on perceived trust, and that this at the same time has a positive and significant effect on attitude, perceived usefulness, perceived ease and intention to use, as well as a significant but negative effect on perceived risk. On the other hand, perceived risk showed an inverse, but not significant, relationship with intention to use. Originality/value This research explored the adoption of e-wallets by young people in Colombia, which has been widely claimed in the academic literature. In a turbulent context with a high distrust of financial institutions, as well as a change in digital money consumption patterns, it is critical to understand the factors that contribute to the adoption of mobile payment services. The findings, in addition to contributing to the academic debate, have important implications for e-wallet providers, as they offer information that allows designing strategies to attract and keep current and potential users. At the same time, the recommendations by the authors allow the design of tools, especially related to security and privacy, to improve their trust and build loyalty, thus contributing to the consolidation and development of the mobile payment system.
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