Cloud-Based Payment Systems in Australia: How Security Affects Consumer Satisfaction

Abstract

Over the past years, online payments or cloud-based payments have significantly increased around the globe. Cloud-based payment systems (CBPS) are more involved in the payment process due to their convenience and flexibility. Although CBPS offers obvious benefits, their adoption rates among Australian users are comparatively lower compared to those in other countries. People are dissatisfied with current payment methods or are unaware of the advantages of CBPS. Using the technology acceptance model (TAM) with perceived ease of use and perceived usefulness, a qualitative research method was applied through semi-structured interviews to collect data from 20 consumers in Australia. The findings pointed out an appreciation for security features such as two-factor authentication and cutting-edge technologies. The banks were trusted by Australians, but a lack of education and additional fees on digital payment platforms were sources of concern. In the context of CBPS, it was observed that electronic devices were easy to use and proved to be useful. Service providers need to improve security measures and implement innovative technologies to enhance user privacy and prevent fraudulent activities. Overall, Australians expressed satisfaction with their banks; however, there are opportunities for enhancement, particularly in bolstering security measures and providing education on emerging payments options.

Keywords

• CBPS
• cloud-based payment systems
• consumer satisfaction
• security
• price value
• perceived ease of use