Impact of Mobile Wallets Security on Consumer Attitude towards Use

Abstract

Mobile wallets have become an indispensable part in the financial transactions. Digital revolution has led to the increase in the use of digital payment and reduced the cash payment somehow. However, security still remains an important concern which needs to be addressed. The danger of cyber securitycell hampers the use of mobile wallets for payments. To get into the real concerns of the consumer while using mobile wallets, it becomes necessary to understand the perception towards security of the consumerwhich ultimately affects their attitude towards the use of mobile wallet. The present study explores theconsumer perception towards security of mobile wallets including i.e. safety, trust, risk, financial security, privacy, security breach, data integrity, and governance wallet and examines their impact on attitude towards use. The study has also investigated the difference in the opinion of the consumers on the basis of age.The responses were collected from 315 mobile wallet consumers via structural questionnaire.Multiple Regression andANOVA has been used to analyse the data. The study concludes that security issues and consumer attitude towards mobile wallet usage varies as per the age of the res0 However, the consumers of all age groups are equally concerned about the security issues.