Understanding Trust, Privacy and Financial Fears in Online Payment
Abstract
In online payment, customers must transmit their personal and financial information through the website to conclude their purchase and pay the services or items selected. They may face possible fears from online transactions raised by their risk perception about financial or privacy loss. They may have concerns over the payment decision with the possible negative behaviors such as shopping cart abandonment. Therefore, customers have three major players that need to be addressed in online payment: the online seller, the payment page, and their own perception. However, few studies have explored these three players in an online purchasing environment. In this paper, we focus on the customer concerns and examine the antecedents of trust, payment security perception as well as their joint effect on two fundamentally important customers' aspects privacy concerns and financial fear perception. A total of 392 individuals participated in an online survey. The results highlight the importance, of the seller website's components (such as ease of use, security signs, and quality information) and their impact on the perceived payment security as well as their impact on customer's trust and financial fear perception. The objective of our study is to design a research model that explains the factors contributing to an online payment decision.
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Perceived risk is a significant predictor of transaction abandonment.
“For instance, perceived risk was observed to be a significant predictor of transaction abandonment (Rajamma et al., 2009; El Haddad et al., 2018).”
From Motivational and Affective Factors Underlying Consumer Dropout and Transactional Success in eCommerce: An Overview (2020) · cites this paper as El Haddad et al., 2018
Cites
Preliminary exploration of worry: Some characteristics and processes
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“However, within a shopping scenario characterized by a risk of potential privacy loss, customers can change their evaluation of risk and benefits associated with disclosure [17, 18].”
BackgroundMcCole, P., Ramsey, E., & Williams, J. (2010) · Journal of Business Research · doi:10.1016/j.jbusres.2009.02.025 · Cited by 403 · see citing works
Re-examining online customer experience to include purchase frequency and perceived risk
Martin, J., Mortimer, G., & Andrews, L. (2015) · Journal of Retailing and Consumer Services · doi:10.1016/j.jretconser.2015.03.008 · Cited by 321 · see citing works
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Zhang, Z., Jia, M., Lee, H.-P. (., Yao, B., Das, S., Lerner, A., Wang, D., & Li, T. (2024) · Proceedings of the CHI Conference on Human Factors in Computing Systems · doi:10.1145/3613904.3642385 · Cited by 95 · see citing works
Bell, L., McCloy, R., Butler, L., & Vogt, J. (2020) · Frontiers in Psychology · doi:10.3389/fpsyg.2020.01546 · Cited by 43 · see citing works
- Authors
- El Haddad, G., Aïmeur, E., & Hage, H.
- Affiliations
- Dept. of Comput. Sci. & Oper. Res., Univ. of Montreal, Montreal, QC, Canada
- Notre Dame University – Louaize (LB)
- Venue
- 2018 17th IEEE International Conference On Trust, Security And Privacy In Computing And Communications/ 12th IEEE International Conference On Big Data Science And Engineering (TrustCom/BigDataSE)
- Publisher
- IEEE
- Published
- 2018-08
- Pages
- 28-36
- OpenAlex
- W2890308940
- Cited by
- 35
- References
- 5
- Citations by year
- 2025: 3 · 2024: 8 · 2023: 7 · 2022: 8 · 2021: 4 · 2020: 2 · 2019: 2 · 2018: 1
- FWCI
- 5.43
- Type
- conference paper
- Language
- en
- Open access
- closed
- Locations
- IEEE International Conference on Trust, Security and Privacy in Computing and Communications (TrustCom) (publishedVersion)
- Topics
- Social Sciences › Decision Sciences › Information Systems and Management › Technology Adoption and User Behaviour
- Social Sciences › Sociology and Political Science › Privacy, Security, and Data Protection
- Social Sciences › Business, Management and Accounting › Organizational Behavior and Human Resource Management › Customer Service Quality and Loyalty
- Keywords
- online payment, consumer trust, privacy concerns, risk perception, shopping cart abandonment, online purchase decision
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