Millennials’ Perception on Mobile Payment Services in Malaysia

Abstract In the early of 21st century, mobile payment became a hot topic after the burst of the internet, however its services are considered in their infancy stage and still quite new to the consumers in Malaysia. Therefore, there is a need to investigate the factors affecting consumers’ intention especially among the millennials to use mobile payment services in Malaysia which encourage the development of mobile payments as an innovative alternative payment method. In this study, perceived usefulness, perceived ease-of-use, perceived credibility and social influence were examined to identify the relationships with the consumers’ intention to use mobile payment services in Malaysia. The Extended Technology Acceptance Model (TAM) was used to construct the research framework of this study. Self-administered questionnaire was as the data collection tool in this study and 300 samples from Peninsular Malaysia were collected for data analysis. The findings show that all suggested factors have significant impact in affecting the consumers’ intention to use mobile payment services in Malaysia with perceived usefulness proved to be the strongest determinant. The implication and limitation of this study were discussed at the end of this paper.