Consumer Trust in Digital Payment Systems

This study explores consumer trust in digital payment systems and its impact on adoption rates. Through qualitative interviews, it identifies key factors influencing trust, including security measures, user experience, transparency, and perceived risks. Recommendations focus on enhancing trust through robust security, transparent policies, and tailored support for diverse demographics, especially for the elderly. This study presents the results of five in-person interviews I conducted with Saudi Arabian respondents of various ages on their experiences with digital payment systems. According to the interview, the most significant aspects impacting digital payments are trust, security measures, demography, and reputation, while risk, transparency, and experience are critical for assessing service provider credibility. It sheds light on the crucial aspect of customer services that affects digital payment trust and ensures that the consumer will continue to use these services. Consumers desire transparency and robust security measures. Positive experiences with digital payments boost trust, while negative ones raise concerns. Trust in digital payment systems varies based on cultural attitudes, demographics, and age. Prioritizing security measures, transparent policies, and trustworthy customer service can enhance trust.