Eleventh Global Studies Conference

Abstract

The spread and advancement of internet technology not only has evolutionary impact on people’s lives but also on business operations. To better serve a new breed of technology savvy individuals called Millennials, an increasing number of businesses have invested substantial resources in developing their online capabilities. However, high abandonment rate of online transaction continues to be a concern. Related research argues that a major inhibitor of online transactions is the uncertainty or perceived risk associated with it. Hence, an improved understanding of Millennials’ adoption of online payment scheme is imperative to capitalize on the potential of this business medium. The purpose of this research is to examine the influence of perceived risks and level of acceptability as predictors of online payment scheme’s adoption among Millennials in the Province of Cavite, Philippines. A conceptual framework based on the Technology Adoption Model (Davis, 1989) and Azjen (1985), Theory of Planned Behaviour will be employed. Results of the research will provide empirical validation about antecedents of Millennials’ adoption of an online payment scheme, which may raise some practical implication for the industry within the context of the Philippines as a developing country in Asia.