“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)


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
Number of pages22
JournalJournal of Internet Commerce
Publication statusE-pub ahead of print - 20 Mar 2020


Bibliographical note

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


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

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