Perceived Risk in Mobile Payment Services Among Chinese Older People: The Influence of Age and Experience

With the rise of mobile payment services (MPS), there is an increasing risk of a digital payment divide, particularly for older adults who are slower to adopt these technologies. This study investigates the barriers older adults face in adopting MPS, focusing on perceived financial and privacy risks, and examines how age and experience moderate these relationships. A survey was conducted with 233 older non-users, 260 older users, and 206 younger users. Results revealed age-related differences in risk factors: for older adults, perceived uncertainty and possibility were key predictors, while for younger adults, perceived knowledge and control over consequences were also important. Furthermore, the relationship between perceived risks and the intention to use MPS was moderated by user experience: risks negatively affected intention only for non-users, not users. This finding may be linked to the impact of interface design features.