Assessing the adoption of mobile payment services among university students during Covid-19: the role of perceived risk and UTAUT factors

This study examined the acceptance of mobile payment services among postgraduate students during the COVID-19 pandemic, following the World Health Organization’s call for contactless transactions to minimize SARS-CoV-2 transmission. It examined key determinants, including social influence, performance expectancy, facilitating conditions, effort expectancy, and perceived risk, based on the Unified Theory of Acceptance and Use of Technology (UTAUT). Data were collected from 155 postgraduate students at a Malaysian public university using a structured questionnaire. Findings revealed that performance expectancy and perceived risk significantly influenced mobile payment acceptance, accounting for 65.8% of the variance. The results underscored how students perceived mobile payments as both efficient and risk-mitigating during health crises. This study contributes to the understanding of technology acceptance by illustrating the dual role of mobile payments in enhancing convenience and public safety. It also provides actionable insights for policymakers, educational institutions, and financial technology providers to enhance digital payment adoption and resilience strategies in the event of future pandemics.