Abstract:

Payment method has undergone a drastic change and evolution in line with technology and science development. Today, mobile-based technologies have impacted the society as a whole, particularly in the financial transaction. Mobile payments are payment for goods, services, and bills/invoices with a mobile device like mobile phones and personal digital assistant, leveraging on wireless and other communication technologies. However, the acceptance and usage of mobile banking and payment is relatively low albeit high penetration of mobile phone services in Malaysia. Therefore, this paper is designed to investigate the Generation-Y’s perception and intention towards mobile payment using a modified Technology Acceptance Model (TAM). There are nine variables that have been tested using correlation analysis whereby the results show that eight of them are significantly related to the intention to use mobile payment. Among these variables, they are perceived usefulness, perceived ease of use, perceived image, perceived triability, perceived self-efficacy, perceived confidentiality, and perceived loading speed. Perceived cost is significant at 0.01 but the relationship is reversed from the initial hypothesis. On top of that, perceived trustworthiness is found to be not significant in this study and the finding is in contrast to most previous studies.