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Top1. Introduction
Mobile payment involves money payment which is mostly made for products or services by utilizing portable electronic devices like cell phones and tablets. In the current digital era, majority of the online shopping, electricity bills, mobile bills, mobile charges, or other related payments are done by utilizing this technology (Turi et al., 2020). It is an efficient source to transfer via mobile without using any check, credit card or cash (Ahvanooey et al., 2020).Considering the importance of mobile payment is the fastest way to transfer money as compared to traditional sources of money. This option of mobile payment majorly allows integrating the loyalty and incentive programs into this online payment application that result in enhancing the customer value and makes them happy and motivated to remain with the mobile brand(Gao, Rau & Zhang, 2018).Mobile payments also help to develop a better tracking of inventory and customer behavior that also plays a significant role to improve the services (Farah et al., 2018; Al-Okaily et al., 2019). Mobile payment is cost-effective in its financial transaction as compared to credit cards or other traditional sources of the transaction, with zero charges on money trading that help to save money up to some limit(Chen & Li, 2017;Gao, Rau& Zhang, 2018). In the era of digitization and technological advancements, the role of hackers has become more profound, which invokes a concern relating to the security of the people. Thus, there need to be solutions for this security threat to increase the abundance of adoption (Al-Janabi& Hussein, 2019).
Recently techniques like biometric and facial recognition have been increasing in practice to increase the security of transactions and to protect the privacy of customers as well. Most of the digital payment applications, banking, and non-banking, have invoked the system to increase the security of the transactions. Thus, a focus upon these technologies could further influence the adoption of mobile or digital payment technologies by consumers (Bhatti et al., 2020).The e-commerce in Pakistan is majorly based on buying and selling of services and goods by using telephone or internet through the efficient use of electronic means like cellular phone, computer, automated teller machine (ATM), fax machine, and other electronic appliances through using the internet sources(Agren&Barbutiu, 2018; Bhatti et al., 2020). Smartphone adoption has significantly increased across the globe likewise the adoption and usage in Pakistan has almost become double, therefore smartphone has open new payment methods(Priyadarshini, 2020; Bhatti et al., 2020). Mobile payment services like jazz cash, easypaisa, and Telenor cash are others including the payment services introduced by digital banking products in Pakistan (Turi et al., 2020). The banks and the mobile service providers are working hard to create a new cashless way of money usage and they are providing these services at very low rates; sometimes even without any charges at all. Mobile banking allows the users to have rapid random access to their bank accounts and online wallets and allows the transactions to be done remotely without the need of visiting the banks. Various available facilities on such platforms include the option of verifying the account information including the statements; the credit card related information and any deposit or withdrawal reports. Moreover, transfers and utility bills can also be handled on these platforms. Mobile banking services have improved the financial systems and reduced the rush in the bank branches for bank notes deposits, cash withdrawals and the payment of utility bills. Mobile banking services are time-saving, low in error rate and effective overall. Moreover, these systems are economical and easy to use (Alabdan, 2019).