Exploring Transaction Security on Consumers’ Willingness to Use Mobile Payment by Using the Technology Acceptance Model

In recent years, with the increase in Fintech innovation, mobile payment has played an important role. This research is to investigate factors affecting consumers’ willingness to use mobile payment. The study found that perceived ease of use and perceived usefulness have a significant positive impact on consumer’s adoption of mobile payments. In addition, from empirical research on the mediating effect of transaction security on attitudes toward using it and behavioral intention to use, the study found that transaction security has a significant mediating effect, and empirical data shows that transaction security can strengthen consumers’ behavior towards using mobile payment intention, this also explained why the penetration rate of mobile payments in developed countries is lower than in developing countries. In summary, to encourage consumers to willingly use the new mobile payment tool, in addition to making the tool easy to use and useful, it is crucial that transaction security can assure consumers’ willingness to use mobile payment.