A prototype design for enhancing customer trust in online payments

Abstract

Problem statement: The adoption of mobile device technology can contribute significantly to enhance customers trust in online payment systems. Approach: The perceptions and preferences of online shoppers are influenced by several key factors which serve to both enhance and compromise this trust and in turn affect a customer intentions and behavior in relation to use online payment systems. The first part of the research was a quantitative study to investigate these factors. In the second part of this research, a mobile payment model for online payment systems was proposed. In this model, the customers do not need to trust merchants during the transaction because merchants will not act as an intermediary between customers and the acquirer. Customers can therefore send their financial details without concern of disclosure, or potential misuse by the merchant. Results: In this study, the key factors influencing to adopt mobile payment systems were identify. The proposed model was developed and an analysis of the model architecture against conventional online payment systems was discussed. Conclusion/Recommendations: The significance of this research comes from providing a practical mobile payment model as a possible step towards increasing customer acceptance of online shopping and increasing their trust in online payment systems. The new model focuses on enhancing the feeling of security of the use of an online payment system and satisfying the security requirements. © 2009 Science Publications.