Cao Yong, Jacquline Tham, S. M. Ferdous Azam, Ali Khatibi


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 research aims to identify and explore key factors that affect the decision of whether to use mobile payments. Qualitative and quantitative research are the main methodology in this research. The well-established theories, Unified Theory of Acceptance and Use of Technology (UTAUT) is 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 are 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 attitude to adopt mobile payment. On the other hand, the factors of Effort Expectancy, Performance Expectancy, Social Influence and Consumer Trust play significant roles. The results of this study also have some practical implications for the spread and management of mobile payment industry in Malaysia and some suggestions are offered to mobile payment platform. At the end of this paper, the limitations and future research directions are listed.

JEL: M10; M15; D12

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Malaysia, acceptance, mobile payment, UTAUT, effort expectancy, performance expectancy, social influence, consumer trust, perceived cost

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