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Success Determinants of Mobile Payments and Security Issues
Mshvidobadze T. I., Osadze L. T.

Mshvidobadze, Tinatin Ia., and Osadze, Lali T. (2024) “Success Determinants of Mobile Payments and Security Issues.” Business Inform 9:398–404.
https://doi.org/10.32983/2222-4459-2024-9-398-404

Section: Finance, Money Circulation and Credit

Article is written in English
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UDC 336.7

Abstract:
An important fact related to mobile payments is that adopters have already reached the majority group in more than 47 countries. This paper seeks to identify the main success determinants of firms operating in the segment, looking for relevant characteristics of organizations that are successful in this competitive arena. The research results suggest that companies with organic and flexible structures, open communication qualities, and decentralized decision processes increase their chances of success. Furthermore, the results also show that, given non-impeditive regulations, critical mass and the provision of different services other than the payment choice should be considered by firms operating in the mobile payment segment. Payment systems that allow people to pay using their mobile phones are promised to reduce transaction fees, increase convenience, and enhance payment security. New mobile payment systems also are likely to make it easier for businesses to identify consumers, to collect more information about consumers, and to share more information about consumers’ purchases among more businesses. The overall result indicates that organizational resources and management subsystems are relevant to the success of mobile payment enterprises, which usually run as platforms. The paper describes emerging technologies that can benefit mobile payments in terms of usability and security of mobile payments. Despite the convenience, users are wary of potential vulnerabilities, such as data breaches and fraud. As a result, there is an ongoing effort to enhance security measures, including biometric authentication and advanced encryption technologies, to reassure users and safeguard transactions.

Keywords: mobile payments, technology, electronic commerce, transactions, security.

Fig.: 1. Bibl.: 19.

Mshvidobadze Tinatin Ia. – Doctor of Sciences (Engineering), Professor, Gori State Pedagogical University (53 Ilia Chavchavadze Ave., Gori, 1400, Georgia)
Email: [email protected]
Osadze Lali T. – Doctor of Sciences (Economics), Professor, Gori State Pedagogical University (53 Ilia Chavchavadze Ave., Gori, 1400, Georgia)
Email: [email protected]

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