A framework to build trust in mobile payment systems for Australian consumers

Trust is at the core of any payment method and its role is of vital importance in the adoption of a new payment system. Individuals need to trust in one another in order to validate any monetary system created. With the evolution of payment methods, shifting from paper-based to electronic-based, building consumer trust has become a vital element for the success of businesses involved in the mobile payment systems sector. In this sense, this research project aims to delve deeper into the effects of consumers trust on mobile payment systems (MPS) adoption in Australia. In order to collect data from Australian consumers, a quantitative approach through a secondary data analysis and questionnaire surveys were conducted in so far as this data can be measured and statistically analysed. Also, the data were gathered and imported into SPSS (Statistical Package for the Social Sciences) system, and after that, this research project adopted the partial least square structural equation modeling (PLS-SEM), where the data analysis took place. The results pointed out that trust is an essential factor for Australian consumers and it plays a pivotal role on MPS adoption. The results also revealed that Australian consumers have concerns about the security of their information and prefer using PIN or password to protect their data. In addition, they would adopt the MPS if they feel that organisations are providing a trustworthy service. The findings of PLS-SEM analysis pointed out that behavioural factors and organisational factors have significant impact on consumers’ trust, and this, as a consequence, have influence on MPS adoption. On the other hand, this research found that the technological factors, governmental factors and personal factors have no significant impact on Australian consumers’ trust and this, as a result, has no influence on MPS adoption.