Factors Affecting Consumers’ Perception of Electronic Payment in Saudi Arabia

Abstract

The recent growth and development of technologies has led to considerable improvement in internet technologies. Largely, electronic business services are fulfilling consumers requirements. Electronic payment (e-payment) systems are increasingly popular in Saudi Arabia, due to the widespread use of internet for shopping and banking services. Saudi Arabia has established a centralized online payment system with other online payment services to facilitate sending and/or receiving of services for individuals or corporations via electronic channels.This study has developed a conceptual model to examine the determinants of the significant factors that influence consumers’ perception of e-payment in Saudi Arabia. The findings of a sample set of respondents (229) analyzed using multiple regression analysis indicate that benefit, ease of use, and self-efficacy influence Saudi consumers’ perception of e-payment systems, while trust and security are not significantly associated with consumers’ perception of e-payment. Keywords: electronic payment, consumers’ perception, trust, self-efficacy, ease of use, security