Customers' attitudes towards contactless payments : a Maltese perspective

Abstract

The rapid changes in technology resulted in different and more efficient ways through which one can conduct transactions, such as contactless payments, which provide benefits for both the customers and financial institutions. This dissertation titled “Customers’ Attitudes towards Contactless Payments: A Maltese Perspective”, seeks to explore and gain insights on Maltese perception of contactless payment as an alternative payment system to the traditional ones. Whilst taking into consideration previous held studies from foreign scenarios, this dissertation solicits to grasp the local perspective and current adoption situation of such system. Since contactless payment devices are relatively new in Malta, various Maltese citizens lack knowledge regarding its technology features hence people tend to have the idea that this system is an unsafe one thus, these variables for such mentality are evaluated. Both interviews with local banks and surveys with the locals were of help in order to recognize that encourages users and what discourages users of other payment systems. Moreover, any fears whilst conducting transactions via contactless devices were analysed. This dissertation provided the required insights of where the general public stand in terms of the future of this payments system. Furthermore, any areas where the locals lack sufficient information on the topic were identified and it was noted that better education regarding the safety of the system will result in a higher adoption rate.