An Empirical Study on the Impact of Perceived Benefit, Risk and Trust on E-Payment Adoption: Comparing Quick Pay and Union Pay in China

To explain the adoption of two Online payment tools (Quick Pay, Union Pay Online), we use TAM and Trust Theories to extend the Valence Framework. Then we designed a questionnaire in accordance with the proposed model. With the data collected, we have discovered that perceived benefit and trust are the key factors determining users´ adoption of e-payment tools, and users pay much less attention to perceived risk. Using the validated and modified model, we explained the adoption of the mentioned two e-payment tools. Quick Pay is more popular than Union Pay because Quick Pay has better performance in ease access, usability, reputation and secure protection.