Factors influencing adoption of e-payment systems: an empirical study on Iranian customers

Internet technology has influenced the banking systems because of its capability to enhance performance of financial operations. A major concern of Internet banking systems is the customers’ perception of security and trust. This study presents an experimental investigation on important factors influencing trust in e-payments systems in Iran. A set of potentially determinant factors of trust is developed and organized in three major groups: technical and transaction procedures, access to security guidelines, and usability. The direct effect of the factors on perceived trust, along with their indirect effect through perceived security, is evaluated in an empirical study. The data are collected from customers of several Iranian banks. It is found that both perceived security and trust have positive impact on using e-payment systems. The results insist on technical and transaction procedures, and access to security guidelines being the most influential factors on perceived trust of customers. The findings are further compared to outcomes of similar recent studies. The results provide a guideline for decision makers to develop suitable solutions that can encourage the adoption of e-payment systems.