|Author:||Ng, Kwok Fai Martin|
|Title:||Legal awareness of consumers in using stored value facilities : the Hong Kong context|
|Advisors:||Ng, Vincent (COMP)|
|Subject:||Hong Kong Polytechnic University -- Dissertations|
Electronic funds transfers -- China -- Hong Kong
Electronic funds transfers -- Law and legislation -- China -- Hong Kong
|Department:||Department of Computing|
|Pages:||viii, 115 pages : color illustrations|
|Abstract:||The recent legislation in 2015 of the Payment Systems and Stored Value Facilities Ordinance (Cap 584) witnessed the importance for the awareness of legal issues to both operators and customers in the era of FinTech development in Hong Kong. HKMA requires SVF licencees to have complaint handling policies and systems, and encourages SVF users to contact relevant SVF issuers for enquiries or complaints. However there is no information on how much should be done on fostering customers' awareness on the legal issues. The lack of awareness of customers maybe related to most of the legislations are ineffective at the stage of their execution if it is necessary to. The study objective of this work is to review the legal awareness among users. Six hypotheses have been proposed to study different behavioral factors, such as frequency of uses, and educational levels. Questions are then designed with respect to the hypotheses and statistical tests have been performed on the 110 questionnaire respondents from an online survey. The results show that most of the users are unaware of the legal issues involved in the usage of such tools. The major reasons for lacking such awareness are lack of sufficient education from the statuary body, and terms and conditions of the tools are too complicated to understand. Other interesting results indicate legal awareness are very hard to be commonly awaked in general public regardless of user educational levels, income differences, and spending powers. This results align with Anoop who said proper training should be provided in arising legal awareness among general public which are the definitively duties from local government and it should be more important in the era of digital world and more and more young people are growing up as what they are named with digital natives.|
|Rights:||All rights reserved|
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