Perceived Risk and Attitude as Determinants of Mobile Payment Adoption: A Behavioral Economics ‎Perspective

  • Authors

    • Cathleen Mia Salazar Batangas State University- The National Engineering University
    • Blessa Camacho Batangas State University- The National Engineering University
    • Dinah Joy Montemayores Batangas State University- The National Engineering University
    • Janelle Javier Batangas State University- The National Engineering University
    • Jessa Jane Gatilogo Batangas State University- The National Engineering University
    • Kypril Aclan Batangas State University- The National Engineering University
    • Dr. Nickie Boy A. Manalo Batangas State University- The National Engineering University
    • Dr. ‎Gemar G. Perez Batangas State University- The National Engineering University
    • Dr. Bendalyn M. Landicho‎ Batangas State University- The National Engineering University
    https://doi.org/10.14419/vydt0v09

    Received date: November 9, 2025

    Accepted date: December 13, 2025

    Published date: December 19, 2025

  • Attitude; Behavioral Economics; Market Vendors; Mobile Payments; Perceived Risk

  • Abstract

    This study explores how perceived risk factors affect the attitude of public market vendors towards mobile payment adoption through ‎performance risk, financial risk, time risk, psychological risk, and social risk. Using a survey of 325 randomly selected public market ‎vendors in Batangas City, data were gathered through a validated questionnaire with strong reliability. Statistical analysis, including Pearson ‎R correlation, ANOVA, and Kruskal-Wallis test, was used to examine the relationship between variables. The findings revealed that ‎respondents had a neutral attitude when it comes to mobile payments adoption. When it comes to the correlation between attitude and ‎perceived risks, the results showed that there is a significant relationship where performance and time risk are observed with the strongest ‎correlation, with attitude and social risk having a weaker relationship but still significant. The study also uncovers that neither the number of ‎years of a business, customer volume, nor the type of products sold significantly affects the openness in the adoption of mobile payments. In ‎contrast, the average monthly sales and awareness of mobile payment tend to show a critical and significant relationship in the mobile payment ‎adoption. The results suggest that perceived risks affect the attitude of the respondents in the adoption of mobile payments. Thus, ‎developing training and support programs, enhancing system performance and connectivity, and expanding for future research are ‎recommended to enhance confidence, accessibility, and trust in mobile payment usage while promoting collaboration among relevant ‎stakeholders‎.

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    Salazar, C. M., Camacho, B. ., Montemayores, D. J. ., Javier, J. ., Gatilogo, J. J. ., Aclan, K. ., Manalo, D. N. B. A. ., Perez, D. ‎Gemar G. ., & Landicho‎, D. B. M. . (2025). Perceived Risk and Attitude as Determinants of Mobile Payment Adoption: A Behavioral Economics ‎Perspective. International Journal of Accounting and Economics Studies, 12(8), 603-616. https://doi.org/10.14419/vydt0v09