Facilitating the adoption of e‐payment systems: theoretical constructs and empirical analysis

Investigation of the critical factors that may ensure consumer adoption of electronic payment systems found that the perceived importance of thecritical factors was correlated with the actual importance of these factors.

Abstract

Purpose The emergence of online transactions, enabled through internet media, has led to an increase in the availability of electronic payment (e‐payment) systems. This research aims to investigate, through theoretical constructs (technology acceptance model, theory of reasoned action) and an empirical analysis, the critical factors that may ensure consumer adoption of these facilities. Design/methodology/approach This research study mainly uses the deductive approach to consider secondary sources and primary data, where hypotheses have been developed in order to demonstrate the findings. An initial literature review revealed six issues that are considered critical for e‐payment considerations. An anonymous and self‐administered survey based on the research model was developed and e‐mailed to the respondents. A total of 155 questionnaires were coded and analysed using SPSS to analyse the hypotheses. Findings The research proved that the perceived importance of the critical factors was correlated through security, trust, perceived advantage, assurance seals, perceived risk and usability. The results demonstrate that three of the critical factors were necessary (security, advantage, web assurance seals) and three were relatively sufficient (perceived risk, trust and usability) through customer intentions to adopt an e‐payment system. Originality/value It is believed that the findings represent an important contribution to the further adoption of e‐payment facilities and indeed the design of general e‐commerce systems.