Understanding Consumer Acceptance of E-Commerce Payment Services and Banking Services: An Empirical Analysis

Abstract

Expanding on the model proposed by Kim et al. (2016) based on the elaboration likelihood model and technical acceptance model TAM and extant knowledge about the phenomenon of consumer acceptance, we acknowledge our hypotheses, determining a set of factors that are proposed to directly or indirectly influence the consumer’s intention to use (INT) the e-commerce payment systems over the online or mobile banking systems. An online survey was conducted on a sample of 408 respondents selected through simple random sampling. It has been done after reviewing former work on e-commerce payment acceptance and net/mobile banking acceptance. We discovered that perceived ease of use has a substantial impact on the INT in the e-commerce payment system as opposed to the online or mobile banking system. Thus, to contemplate adopting an e-commerce payment system in lieu of online or mobile banking systems, people feel that the e-commerce payment system is free from the efforts that they still have to make with an online or mobile banking system. Moreover, the next highest impact variables are personal mobility and self-efficacy, which means people feel that they can complete their transactions at any time and place easily using an e-commerce payment system as compared to the online or mobile banking system. Additionally, the self-efficacy of the people, which means they have a convention towards using an e-commerce payment system as opposed to the online or mobile banking system. This study contributes to the literature review on mobile online/ banking systems and e-commerce payment systems.

Keywords: E-Commerce Payment System, Online Banking System, Mobile Banking System, Consumer Intention

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