Five Significant Issues of Digital Payment Systems – A Content Analysis

Digital payment systems have revolutionised the financial landscape, offering unprecedented convenience and efficiency. However, relative rapid adoption has highlighted critical issues that must be addressed to ensure their sustainability and broader acceptance. This study aims to explore the problems of digital payment systems and identify significant current issues. Using four prominent electronic databases, qualifying articles published in the last eight years (from Jan 2017 – June 2024) were sourced for categorisation and analysis. A total of 111 articles on issues of digital payment systems were selected for relevant content on FinTech (financial technology) studies. The research team deeply investigated the articles using established content analysis protocols. The analysis identified five vital issues in digital payment systems: security, convenience, trust, privacy, and adoption of digital payment technology. Other key issues are also identified through the content analysis, suggesting topical research priorities for bringing attention to future research.