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 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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college student, acceptance, mobile payment, Malaysia, UTAUT

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