Online Payment Fraud Be the Emerger of Perceptional Risk towards the Digital Payment System

Abstract

Digital payment System is the best example for unity in diversity as it is widely accepted by the citizens. With digitalization of payment new term also came into picture i.e. Online payment fraud. Online Payment Fraud is nothing but the use of vulnerabilities of online payment system like mobile banking, internet banking etc. The increase in number of online payment fraud has depleted the goodwill of digital payment system. Thus, the study aims to determine the factors that could lead to Online Payment Fraud and how it is affecting the mindset of the customers of the digital payment system. The results revealed five factors that could lead to Online Payment Fraud. However, which affects the mindset is the precautions about the account details that made them worried about the risk of using digital payment system.