Factors Affecting Saudi Consumers’ Acceptance Towards the Use of Electronic Payment
Abstract
The advancement of Electronic Payment (E-P) was aided by the global spread and usage of the internet and cell phones. In Saudi Arabia, there is a scarcity of research that offers a systematic synthesis and study of the factors influencing the utilize and acceptance of electronic payment approaches. E-P popularity has been reached out to a mass in Saudi Arabia which brings more research on its consumers. E-payment (E-P) have been widely accepted to a large number of consumers in Saudi, which brings a great demand of this sector, this research has been done to check over it, pros and cons. In view of the promising growth of e-payment in Saudi Arabia, the aim of the study is to discover the factors affecting e-payment acceptance from the perspective of Saudi consumers. Consumer adoption of e-payment is influenced by factors such as perceived protection, subjective standard, self-efficacy, ease of use, trust, and benefits, according to the literature. The link between the decision of an e-payment and the actual use of an e-payment is then investigated. A self-reporting survey has been created and distributed to 850 people, with 406 eligible statistical answers considered. According to the conclusions, only perceived easy use has a positive effect on perceived utility. According to the SPSS multi-regression study, gains, subjective standard, self-efficiency, and usage simplicity affect the perceptions of e-payment systems by Saudi consumers, whereas confidence and protection are not significantly related with e-payment systems perceptions by consumers. In addition, important coefficients were discovered between e-payment acceptance by e-payment consumers and actual e-payment use. This research shows that e-payment acceptance and use, in Saudi Arabia, is now available. It has advanced knowledge. The implications of the results have been discussed further for e-payment system developers, policymakers, financial institutions, online providers, and software developers.
