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1 – 10 of over 55000Deepa Jain, Manoj Kumar Dash and K. S. Thakur
This chapter introduces the concept of financial market and highlights the role of e-payment systems in the financial market by focusing on the keywords of financial innovation, e…
Abstract
This chapter introduces the concept of financial market and highlights the role of e-payment systems in the financial market by focusing on the keywords of financial innovation, e-payment and sustainability.
Budi Trianto, Nik Hadiyan Nik Azman and Masrizal Masrizal
The development of financial technology (fintech), especially digital payments (e-payments), aims to increase the efficiency and effectiveness of economic transactions. This study…
Abstract
Purpose
The development of financial technology (fintech), especially digital payments (e-payments), aims to increase the efficiency and effectiveness of economic transactions. This study aims to see the extent to which microentrepreneurs in Indonesia and Malaysia take advantage of the existence of e-payments in developing their business and the factors that influence the adoption of e-payments.
Design/methodology/approach
This study uses qualitative and quantitative approach. For quantitative approach, partial least squares structural equation modeling (PLS-SEM 4.0) was used to analyze the data. Using the nonprobability convenient sampling technique, this study collected 400 respondents from microenterprises in Indonesia and Malaysia in various regions.
Findings
Most of the microentrepreneurs in Indonesia and Malaysia have used fintech platforms, especially e-wallet and ATM debit. However, for quick response code-based fintech for business transactions, most microentrepreneurs have not taken advantage of the platform. Then the results of the digital payment adoption factor also differ for each country.
Research limitations/implications
This study is valuable for decision-makers and regulators. These results can be used to find a roadmap for regulators to build a digital economy, especially digital payments for microenterprises in both countries. In addition, these results can be used as a basis for making policies regarding digital payments.
Originality/value
To the best of the authors’ knowledge, this is the first study to compare e-payment adoption by microentrepreneurs in Indonesia and Malaysia. Indonesia and Malaysia are two countries in the Southeast Asia region that have great attention in fintech development. This study provides new insights about fintech, especially digital payments as a strategic approach in the digitalization era.
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In view of the promising growth of FinTech in the Arab region, specifically in Egypt, this study identifies the significant factors likely to influence consumers’ acceptance…
Abstract
Purpose
In view of the promising growth of FinTech in the Arab region, specifically in Egypt, this study identifies the significant factors likely to influence consumers’ acceptance intention toward e-payment products and services (mobile wallets, virtual-cards, mobile/online banking etc.).
Design/methodology/approach
Quantitative deductive research was used to investigate the extension of the unified theory of acceptance and use of technology (UTAUT) on consumers' e-payment acceptance intentions. Questionnaires were electronically administered through convenience sampling. Three hundred and ninety-nine questionnaires were analyzed through multiple regression to test the proposed hypotheses.
Findings
Performance expectance, facilitating condition, effort expectancy and social influence impact consumers' e-payment acceptance intentions. These factors contribute to the growing number of individuals using e-payments to the extent that e-payment eventually becomes a preferred medium for economic transactions. Hedonic motivation, price value and habit are insignificant in encouraging consumers' e-payment acceptance.
Practical implications
The study benefits to governments, policymakers, banking institutions, businesses involved in online transactions and software developers. They can utilize the findings to develop strategies aimed at increasing e-payment usage and overcoming cultural-resistance to changing traditional financial transaction methods. These methods align with the government’s goal of achieving a digital society.
Originality/value
This study presents information on the current state of e-payment acceptance. Its potential contribution lies in identifying the factors that influence the intention to e-payment among Arab consumers, thereby highlighting important considerations for the adoption of e-payment. Furthermore, this study supports UTAUT over UTAUT2 in the FinTech context. It suggests that individuals exhibit similar behavior and inspiration when using e-payment technology as they do when using technology in an organizational context.
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Mohmed Y. Mohmed Al-Sabaawi, Ali Abdulfattah Alshaher and M.A. Alsalem
Electronic payment (e-payment) systems literature analysis reveals that they are growing in developing countries; however, they are limited in the Arab countries and, more…
Abstract
Purpose
Electronic payment (e-payment) systems literature analysis reveals that they are growing in developing countries; however, they are limited in the Arab countries and, more importantly, scarce in Iraq in particular. Therefore, this paper aims to investigate the factors influencing the intention of users to use e-payment systems in Iraq. Additionally, this study proposes an e-payment adoption model based on technology usage models to identify user trends toward e-payment systems.
Design/methodology/approach
A quantitative approach is adopted to test the proposed model. The proposed model is based on the Unified Theory of Acceptance and Usage of Technology theory. The proposed model is validated using survey data from 339 e-payment system users. Using Amos software, this study used structural equation modeling (SEM), a statistical technique for analyzing factor relationships.
Findings
The findings of the study indicate that performance expectancy, effort expectancy, social influence, facilitating conditions and price saving orientation influence Intention to accept the e-payment system. Similarly, habit, technology security, trust, innovation resistance, psychological empowerment also affect intention to accept an e-payment system. However, hedonic motivation and perceived risk do not affect e-payment system adoption.
Originality/value
The identified factors play a major role in user intentions toward the adoption of e-payment systems for financial transactions and addressing these factors will make e-payment acceptable in the future. The results of this study contribute to assisting governments or e-payment firms and decision-makers in building strategic decisions or policies that will increase the adoption of e-payment by individuals.
Muhammad Turki Alshurideh, Barween Al Kurdi, Ra’ed Masa’deh and Said A. Salloum
This paper aims to investigate if perceived security, trust and perceived privacy affect both perceived usefulness and perceived ease of use. Also, the study explores if trust…
Abstract
Purpose
This paper aims to investigate if perceived security, trust and perceived privacy affect both perceived usefulness and perceived ease of use. Also, the study explores if trust, perceived usefulness and perceived ease of use influence consumers’ intentions to use the e-payment system which is supported by testing the moderation effect of gender on the intention to use such systems in the higher education institutes.
Design/methodology/approach
In total, 850 participants from United Arab Emirates (UAE) universities have filled an online questionnaire prepared for these aims. The survey instrument is composed of 22 items. The primary data was used to test the study model, proposed constructs and the study hypotheses using the Smart PLS Software.
Findings
The research confirmed that perceived security, trust and perceived privacy affect both perceived usefulness and perceived ease of use. Also, the study found that trust, perceived usefulness and perceived ease of use have anticipated the significance of consumers’ intention to use e-payment system which is found also moderated by gender. Research outcomes indicated an important contribution towards the acceptance of e-payment systems and the common design of e-commerce systems.
Originality/value
Research outcomes have indicated an important contribution toward the acceptance of e-payment systems and the common design of e-commerce systems. Additionally, this study helped in increasing the reader’s understanding of various aspects of e-commerce, specifically consumers’ trust and privacy protection which consequently allows the online sellers to formulate appropriate strategies and actions imperative to serve the online purchasers and target the internet users.
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Sevgi Özkan, Gayani Bindusara and Ray Hackney
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…
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.
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Wendy Ming‐Yen Teoh, Siong Choy Chong, Binshan Lin and Jiat Wei Chua
In view of the promising growth of e‐payment in Malaysia, this study aims to discover the factors influencing perception towards electronic payment (e‐payment) from the Malaysian…
Abstract
Purpose
In view of the promising growth of e‐payment in Malaysia, this study aims to discover the factors influencing perception towards electronic payment (e‐payment) from the Malaysian consumers’ perspective.
Design/methodology/approach
Literature indicates that factors such as benefits, trust, self‐efficacy, ease of use, and security influence consumers’ perception towards e‐payment. A self‐reporting questionnaire was developed and disseminated to 200 respondents, out of which 183 valid responses were considered for further statistical analysis.
Findings
The multiple linear regression results reveal that benefits, self‐efficacy, and ease of use exert significant influences on consumers’ perception towards e‐payment. However, the insignificant results obtained for trust and security warrant further investigation.
Research limitations/implications
This study proposes five factors for measuring consumers’ perception towards e‐payment which is replicable across different economies. However, the small sample size raises the issue of generalizability which future studies should seek to address.
Practical implications
The use of e‐payment by the majority of respondents confirms that there is a great potential for future expansion of such payment devices. The challenge is to ensure that it continues to meet consumers’ expectations which will subsequently lead to its increased adoption and use.
Originality/value
This study has advanced knowledge for it has provided information on the current state of e‐payment acceptance and use, particularly among Malaysians. The significant factors identified are beneficial to the policy maker, banking institutions, online transaction facilities providers, and software developers as they develop strategies directed at increasing e‐payment acceptance and use.
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Thabet Albastaki, Allam Hamdan, Yousif Albastaki and Ali Bakir
Consumers frequently use electronic payments (e-payment) as their first step into formal financial services. The advancement of information and communication technology, on the…
Abstract
Purpose
Consumers frequently use electronic payments (e-payment) as their first step into formal financial services. The advancement of information and communication technology, on the other hand, has resulted in several achievements for human civilization, altering people’s lives, behaviors and societal measures. This study’s main aim is to investigate issues and identify the factors that are likely to influence customers’ acceptance of implementing e-payment in the Kingdom of Bahrain.
Design/methodology/approach
A quantitative research approach was adopted to test the influence of e-payment data security, trust, ease of use, usefulness and accessibility on customers’ acceptance of the service. A questionnaire survey was electronically administered to a purposive sample, and 531 responses were returned, achieving the required sample size for the study. Descriptive statistics analysis was used to ascertain data validity and consistency, and regression analysis was used to test the model’s hypotheses.
Findings
The findings of this study demonstrated a high influence of the mentioned factors on the e-payment acceptance of the customers in the Kingdom of Bahrain. The main recommendations are to increase the adoption of e-payment; focus highly on the security factor in e-payment adoption; create a trustworthy e-payment service; strive to make the e-payment services more user-friendly; increase the longevity of the e-payment services by focusing on usefulness; and make e-payment services more accessible.
Originality/value
This study’s potential contribution is to identify the factors that influence e-payment acceptance by customers in Bahrain and draw attention to issues to be considered in adopting new e-payment services.
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This article examines the future of e‐money as a payment instrument and some of the microeconomic policy issues it will raise. The paper is in two parts. This first part focuses…
Abstract
This article examines the future of e‐money as a payment instrument and some of the microeconomic policy issues it will raise. The paper is in two parts. This first part focuses on the various forms which electronic money is likely to take in the future, and considers key technological and economic factors that will shape its evolution. Part 2, to be published in the next issue of foresight, examines some of the major regulatory and institutional issues that are likely to have a bearing on the adoption of e‐money, notably concerns related to the regulation of payment systems, security, privacy and consumer protection.
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