The mediator role of trust in mobile payment adoption: the interplay of behavioral expectations and perceived risk
Abstract
Employing trust as a mediation variable, this study sheds new light on how people balance security, simplicity of use, and societal expectations when choosing to adopt. Policymakers, companies and fintech developers trying to build consumer confidence and increase wider use of mobile payment technology must all understand these dynamics. This paper aims to examine and resolve key issues to enhance understanding of mobile payment acceptance and bridge the obvious flaws in the present scholarly debate. This study examined the key determinants of customer adoption of mobile payment services by integrating the Unified Theory of Acceptance and Use of Technology with perceived risk and trust. Trust has been investigated as a mediating variable between perceived risk and usage behaviour. This study is based on a survey, and the data was collected via an online survey of 310 participants in Northern India. The findings of the study indicated that effort expectancy does not influence adoption intention, whereas performance expectancy, facilitating conditions and social influence are effective predictors. Customer intention is established as a strong predictor, supporting how user intention mediates psychological acceptance into pragmatic acceptance and utilisation of mobile payment system. It is noteworthy that use behaviour and perception of risk are mediated by trust, so trust plays a critical role in avoiding risk aversion. The results of the research are relevant to mobile payment service providers, digital financial platforms and policymakers for stimulating greater user trust and adoption. Performance expectation, impact of society and perceived risk in the existing mobile payment literature through a model that fully recognises mobile payment adoption. Employing trust as a mediation variable, it sheds new light on how people balance security, simplicity of use and societal expectations when choosing to adopt.