Risks of Using NFC Mobile Payment: Investigating the Moderating Effect of Demographic Attributes

Prior studies indicate that perceived risk is an important determinant of the adoption of commerce-related IT innovations. However, little work has investigated how risk perceptions are formulated in consideration of different demographic attributes. Based on a sample of 377 useful responses, this study quantifies how different risk dimensions (privacy risk, performance risk, psychological risk and financial risk) contribute to the perceived overall risk of NFC (near field communication) mobile payment, and elucidates how demographic attributes (gender, age and income) moderates the relationships between the risk dimensions and the perceived overall risk. The results indicate that privacy and psychological risks are the most important risk dimensions of NFC mobile payment and that people of different demographic attributes tend to be concerned with different categories of risks.