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Informative Article | Data & Knowledge Engineering | India | Volume 12 Issue 5, May 2023 | Rating: 4.5 / 10
Trust and Behavior in the Digital Age: Adapting Regulatory Frameworks to Enhance Adoption and Efficacy of Secure Payment Technologies
Venkata Tadi
Abstract: In the digital age, the adoption and efficacy of secure payment technologies are profoundly influenced by consumer behavior and trust. This research delves into the intricate dynamics between consumer trust, behavioral patterns, and the utilization of advanced payment systems. By examining case studies, surveys, and existing literature, the study elucidates how trust and user behavior shape the effectiveness of digital payment solutions. It further explores the interplay between these factors and current regulatory frameworks, identifying gaps and proposing adaptations to enhance consumer protection and technology adoption. The research highlights the necessity for regulatory bodies to incorporate behavioral insights into policymaking, ensuring that regulations not only secure transactions but also foster consumer confidence and widespread use of secure payment technologies. Through a comprehensive analysis, this study provides actionable recommendations for policymakers, technology developers, and consumer advocacy groups to create a more secure and user-friendly digital payment landscape.
Keywords: Digital payment adoption, Consumer behavior, Trust in technology, Regulatory frameworks, financial inclusion, Mobile payments, Behavioral insights, FinTech regulation
Edition: Volume 12 Issue 5, May 2023
Pages: 2683 - 2691