THE FACTORS INFLUENCING COLLEGE STUDENTS’ ACCEPTANCE OF MOBILE PAYMENT IN MALAYSIA

Authors

  • Cao Yong Postgraduate Centre, Management and Science University (MSU), Section 13, 40100 Shah Alam, Selangor, Malaysia
  • Jacquline Tham Postgraduate Centre, Management and Science University (MSU), Section 13, 40100 Shah Alam, Selangor, Malaysia
  • S. M. Ferdous Azam Postgraduate Centre, Management and Science University (MSU), Section 13, 40100 Shah Alam, Selangor, Malaysia
  • Ali Khatibi Postgraduate Centre, Management and Science University (MSU), Section 13, 40100 Shah Alam, Selangor, Malaysia

DOI:

https://doi.org/10.46827/ejmms.v7i1.1192

Keywords:

college student, acceptance, mobile payment, Malaysia, UTAUT

Abstract

Mobile payment refers to a payment method by which a consumer pays a bill for goods or services through a mobile terminal. mobile payment users can send payment instructions directly or indirectly to a bank financial enterprise via mobile devices or proximity sensing devices, thereby enabling currency payments and funds transfers. It realizes the integration of terminal equipment, Internet, application providers and financial institutions, and completes financial business such as currency payment. However, the adoption rates of this payment method are relatively low in Malaysia. This paper analyzes the factors that affect the willingness of Malaysian college students to use mobile payment. Three well-established theories, Unified Theory of Acceptance and Use of Technology (UTAUT), theory of Perceived Risk (PR), and Diffusion of Innovations Theory (DIT) are applied to investigate user acceptance of mobile payments. An empirical model for acceptance of mobile payment in Malaysia is established in this paper. Survey data from mobile payments users will be used to test the proposed hypothesis and the model. The result of data analysis shows that Malaysian consumers’ perceptions of cost has no statistically significant relationship with acceptance of mobile payment. On the other hand, the factor of perceived risk, personal innovativeness, performance expectancy, subjective norm and effort expectancy play important roles. JEL: M10; M15; D12

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Author Biographies

  • Cao Yong, Postgraduate Centre, Management and Science University (MSU), Section 13, 40100 Shah Alam, Selangor, Malaysia
    Cao Yong, PhD candidate at Management and Science University, Malaysia, supervised by Dr. Jacqueline Tham, Professor Dr. Ali Khatibi and Dr. S. M. Ferdous Azam, distinguished academics and researchers at the same University.
  • Jacquline Tham, Postgraduate Centre, Management and Science University (MSU), Section 13, 40100 Shah Alam, Selangor, Malaysia
    Jacqueline Tham (PhD), Senior lecturer in Postgraduate Centre, MSU, who majors in banking, business and management.
  • S. M. Ferdous Azam, Postgraduate Centre, Management and Science University (MSU), Section 13, 40100 Shah Alam, Selangor, Malaysia
    Professor Dr. Ali Khatibi (PhD), professor in Faculty of Business Management and Professional Studies, MSU, who majors in Marketing.
  • Ali Khatibi, Postgraduate Centre, Management and Science University (MSU), Section 13, 40100 Shah Alam, Selangor, Malaysia
    S. M. Ferdous Azam (PhD), Senior lecturer in Postgraduate Centre, MSU, who majors in finance, business and banking.

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Published

2021-12-15

Issue

Vol. 7 No. 1 (2021)

Section

Articles