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Sustainable Development of a Mobile Payment Security Environment Using Fintech Solutions

Author

Listed:
  • Yoonyoung Hwang

    (School of Business, Seoul National University, Seoul 08826, Korea)

  • Sangwook Park

    (School of Business, Seoul National University, Seoul 08826, Korea)

  • Nina Shin

    (School of Business, Sejong University, Seoul 05006, Korea)

Abstract

Financial technology (fintech) services have come to differentiate themselves from traditional financial services by offering unique, niche, and customized services. Mobile payment service (MPS) has emerged as the most crucial fintech service. While many studies have addressed the essential role of security when service providers and users choose to engage in financial transactions, the relationship between users distinct perceptions of security and MPS success determinants are yet to be examined. Thus, this study primarily aims to uncover the distinctive roles of platform and technology security by investigating how users react differently to their varying understandings of the MPS usage environment. This study proposes a research model comprising two security dimensions (platform and technology) and three MPS success determinants (convenience, interoperability, and trust). We evaluated the proposed model empirically by using an online survey of 356 users. The survey accounts users experiences of the selected MPS. The results show that a security driven MPS can essentially enhance or deteriorate users positive perceptions of MPS success determinants while they use it for financial transactions. To further understand how this recent trend of user perception of security affects the overall MPS usage experience, this study provides theoretical insights into the roles of platform and technology securities. Managerial insights on the design strategies of MPS providers are also provided based on the potential implications of users subjective and objective perceptions of MPS security environment.

Suggested Citation

  • Yoonyoung Hwang & Sangwook Park & Nina Shin, 2021. "Sustainable Development of a Mobile Payment Security Environment Using Fintech Solutions," Sustainability, MDPI, vol. 13(15), pages 1-15, July.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:15:p:8375-:d:602406
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    References listed on IDEAS

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    Cited by:

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    2. Massimo Preziuso & Franziska Koefer & Michel Ehrenhard, 2023. "Open banking and inclusive finance in the European Union: perspectives from the Dutch stakeholder ecosystem," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-27, December.
    3. Luiz Antonio Joia & Rodrigo Proença, 2022. "The social representation of fintech from the perspective of traditional financial sector professionals: evidence from Brazil," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-27, December.
    4. Qilong Wan & Xiaodong Miao & Chenguang Wang & Hasan Dinçer & Serhat Yüksel, 2023. "A hybrid decision support system with golden cut and bipolar q-ROFSs for evaluating the risk-based strategic priorities of fintech lending for clean energy projects," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-25, December.
    5. Tsai-Ling Liu & Tyrone T. Lin & Shu-Yen Hsu, 2022. "Continuance Usage Intention toward E-Payment during the COVID-19 Pandemic from the Financial Sustainable Development Perspective Using Perceived Usefulness and Electronic Word of Mouth as Mediators," Sustainability, MDPI, vol. 14(13), pages 1-23, June.

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