Exploring the Impact of Artificial Intelligence on User Satisfaction in Australian Cloud-based Payments: Insights from Financial Service Providers

The emergence of modern payment methods, such as mobile payments and internet banking, has led to a shift from conventional payment systems to digital transactions. Although cloud-based payment systems (CBPS) have gained popularity, their adoption rates in Australia remain low. This study aims to investigate, from the financial institutions’ viewpoint, how the use of artificial intelligence (AI) through security and service quality factors affects perceived usefulness, perceived ease of use, trust, and price value, and how these factors influence user satisfaction. Using the Technology Acceptance Model (TAM) and four new variables (service quality, security, trust, and price value), semi-structured interviews were conducted with Australian financial service providers. The findings reveal that security measures, service quality, and trust are important factors in Australia’s shift towards a cashless society. AI technology is seen as a significant tool for preventing fraudulent activities and improving decision-making. Suggestions to improve customer trust in new payment methods include advertising and educating customers, offering more support and transparency, providing a user-friendly and secure platform, and building partnerships with reputable organisations. Security is emphasised over price, and financial institutions should educate their clients on the costs of security and data storage to enhance user satisfaction and confidence.