Factors influencing NFC mobile wallet proximity payment adoption from the human and security perspective

The rapid evolution of mobile technologies and the increasing diffusion of smartphones have given significant opportunities for innovative companies to create new payment solutions and offer value-added services to their customers.Near Field Communication (NFC) mobile payment has been emerging as a noticeable phenomenon that can enable consumers to turn their smartphones into digital wallets.Although there has been a wide coverage on consumer acceptance of mobile payments, there are only few researches have touched the adoption of NFC mobile wallet proximity payment from the human and security perspectives. The purpose of this study is to review and identify the features of secured mobile payment system.The study proposed a security model that defines the dimensions of perceived security for NFC mobile payment to help in mitigating the vulnerabilities of NFC technology thus builds understanding on how to improve the adoption rate of the technology.The model conceptualized two main dimensions containing eight independent factors, which are: Perceived Ease of Use, Perceived Usefulness, Ubiquity, Awareness, Perceived Risk, Structural Assurance, Security and Privacy, and Trust. As this is a work in progress study, the study will further conduct a survey questionnaire among bank users to evaluate the proposed conceptual model of NFC mobile wallet proximity payment system