The Effect of Personal Factors on Consumers’ Trust in Mobile Payment Systems in Australia

Trust is at the core of any payment method and its role is of vital importance in the adoption of a new payment system. Individuals need to trust in one another in order to validate any monetary system created. With the evolution of the payment methods, shifting from paper-based to electronic-based, building consumers' trust has become a crucial element for the success of businesses involved in the mobile payment systems sector. In this sense, the aim of this study was to investigate the effects of socio-demographic characteristics of users (gender, age, income, education and ethnicity), or personal factors, on consumers' trust, and their influence on mobile payment systems (MPS) adoption in Australia. A quantitative approach through a questionnaire survey was conducted to measure the data collected. The raw data of 200 participants were gathered using SurveyMonkey and the Excel spreadsheets were imported into SPSS (Statistical Package for the Social Sciences) system, where the sample homogeneity took place. The results of sample homogeneity showed minor differences between mean values in some responses, which may suggest that in some groups people with certain characteristics tend to trust more than others.