Further, the survey indicated that 49% of the users feel vulnerable while transacting online (Oladeinde, 2014). It was due to this that we set out to study some of the factors influencing confidence in the online system. We went out of the norm of security study and studied the other variables that may be affecting confidence.
The aim of our study is to investigate the why people fear transaction large amount of cash on the PayPal system. We set out our study on age, gender and the amount transacted to see the interaction between the three with people confidence.
Consumer confidence is a factor that depends on the economic environment, healthy economy boosts the spending and consumer feels the confidence to buy merchandise that includes car, books or a vacation (William D. Perreault, 2012). Due to this spendthrift, e-commerce has defined a subset of payment known as e-payment.
Consumer matrix has changed with the introduction of world wide web, consequently, the consumer has a more heterogeneous environment like the internet to create trust, thus trust has become a vital influence to the success of e-commerce (Theodosios Tsiakis, 2007). Thus need to study exhaustively the factors affecting trust and consumer confidence in e-commerce.
For the online customers, the inner circles of contacts affect the purchasing decision the consumer makes. The inner circle compromises of family and friends. and that’s how the age group defines age as a factor of influence in confidence due to social commerce (Hudson, 2012). When a customer wants to buy a product or a service, first the customer to recognizes the problem then followed by information search, this may involve discussion with friends or age groups, ads or visit the stores and many more (PR Smith, 2011). This gives us the impetus to study the age as a factor in this research, it plays a vital role in purchasing, to further the discussion most friends even discuss the mode of payment ofthe goods and services.