“Price Tag” of Risk of Using E-Payment Service

Kevin K. W. HO, Wing Kuen Eric SEE-TO, Dickson K. W. CHIU

Research output: Journal PublicationsJournal Article (refereed)peer-review

6 Citations (Scopus)


In this research, the authors utilized a survey to evaluate the notional values of the overall risk, the privacy risk, and the financial risk of using a credit card and an RFID-based E-payment service from risk-neutral and risk-averse users. With the known extra financial risk (in terms of monetary value) to be faced by the users in using two different versions of an RFID-based E-payment service, the authors determined the notional monetary value of the extra privacy risk posed by providing personal and financial information to the E-payment service and the differences in the risk aversion of the two groups of users. The findings may help E-payment service developers design better E-payment services based on a better understanding of the value of personal data in their users’ perspectives and, thus, help determine the appropriate incentives for attracting users to use their services.
Original languageEnglish
Pages (from-to)324-345
Number of pages22
JournalJournal of Internet Commerce
Issue number3
Early online date20 Mar 2020
Publication statusPublished - Jul 2020

Bibliographical note

This research is partially supported by Lingnan University Grant #102333.


  • RFID
  • e-payment service
  • overall risk
  • perceived risk
  • privacy risk
  • risk aversion


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