The Effect of Awareness, Trust, and Privacy and Security on Students’ Adoption of Contactless Payments: An Empirical Study

Abstract

The Kingdom of Bahrain has witnessed many advancements in the FinTech domain recently. One of these obvious advancements is the introduction of a few contactless payment software programs and technologies. Within the first two quarters of 2018, several institutions introduced contactless payment mobile apps such as BenefitPay, bWallet, VIVA Cash, and MaxWallet. These mobile apps received vast adoption in a relatively short period of time by the citizens in the Kingdom. This study was conducted to investigate the adoption of contactless payment technologies by the students of the University of Bahrain. The study focused on investigating the awareness, trust, and privacy and security factors related to contactless payment technologies and their impact on the willingness of students to adopt these technologies. For the operationalization of this study, a modified version of technology acceptance model (TAM) was proposed and tested through a survey.