Even though there exist TAM extensions such as TAM2, TAM3 and UTAUT as use moderators but the present study only focused on the factors and consumers’ intention to use single platform E-payment System. Therefore, TAM2, TAM3 and UTAUT were not constructive to study the new technology of single platform E-payment System. Therefore author applied TAM for this study. Lai (2017) also applied TAM model for his study to evaluate same variables as our study did.
Theory of Perceived Risks (TPR) descried the adverse effect on intention to use E banking. Six kinds of perceived risk have been recognized: Financial, Performance, Social, Physical, Security and Time risk (Jacoby and Kaplan, 1972; Roselius, 1971). Several studies have showed perceived risk as an significant factor in Internet Banking adoption (Gerrard et al., 2006; Lee, 2009; Polatoglu ; Etkin, 2001). The risk factor (i.e. perceived risks) has been integrated with the adoption models to explain Internet Banking adoption behavior (Lee, 2009; Pikkarainen et al., 2004). Lee (2009) confirmed that “perceived risk has a stronger effect on an individual’s decision to use Internet Banking in comparison to the benefit factor and defined perceived risk in Internet Banking as the subjectively determined expectation of loss by an Internet Banking user in contemplating a particular online transaction.”
Author deeply discussed about perceived risks in later part and proposing cognitive map which explained in relation to negative factors of IB adoption.
Theory of Reasoned Action (TRA) was developed by Fishbein and Ajzen (1975) and it proposed that a “person’s actual behavior can be determined by the behavioral intention along with the belief and subjective norms that the person has for the behavior”. Subjective norms refer to “an individual’s perception of other’s opinion about his/her particular behavior, if he should perform a particular behavior or not” (Rajapakse,2017). Thus, TRA is a useful theory that can explain the actual behavior of an individual.
2.4.1 Importance of TAM in this research

TAM is mainly derived from the theory of reasoned action TRA that was developed by Fishbein and Ajzen (1975) as mentioned earlier. TAM model incorporates two antecedents variables “perceived usefulness and perceived ease of use” determining the acceptability of an information system.
Previous research has employed TAM model to investigate the service quality (Al-Sukkar, 2005), perceived privacy and security (Singh, 2004; Laforet ; Li, 2005), customer trust (Chong et al., 2010), and Wireless Internet via mobile devices (Lu et al., 2003). The perceived ease of use and perceived web privacy affect perceived usefulness and behavioral intention towards using IB while according to Rawashdeh (2015) justifying that perceived usefulness, perceived ease of use, and perceived web privacy have a direct and indirect influences on behavioral intention.
According to the above analysis, Author can highly recommend that validity and usage of TAM as the core theory for this study with the view of obtaining better results.

2.4.2 Comparison of Selected Models
There are several similarities and differences in the above mentioned models. In respect to the similarities, TAM highlight on explaining the actual behavior for technology adoption. Technology Reaction Action Theory primarily provides the theoretical foundation to TAM. According to Lee (2009) claiming that previous research justifying the theoretical rationale of TRA and TAM has showed a high correlation between behavioral intention and actual buying behavior. TAM uses TRA to state the causal association between two key beliefs: Perceived Usefulness and perceived ease of use whereas TPR describes mostly on negative effect on intention to use online banking.

2.5 Factors affecting to usage of Internet Banking in general
2.5.1 Effect convenience and ease to use
Previous researchers have empirically found that e-banking practices has an influence on customers to access Internet Banking with a higher degree of convenience which offers 24/7 services. (Amin, 2016; Floh ; Treiblmaier, 2006; Karjaluoto et al, 2002; Pikkarainenet al , 2004; Poon, 2008; Venkatesh et al ,2003). Therefore, today, several financial institutions are endeavoring to give emphasis to customer–centric services via internet. In this juncture, it is crucial to implement new digital banking services in order to develop and keep better relationships with customers.
According to Wijayarathna (2015) , it is apparent that usage barrier has a greater influence on the adoption of E banking compared to the other barriers. This supports the findings of the previous studies of Laukkanen et al. (2008) .Therefore it is crucial for banks to improve the user-friendliness of the systems in order to speed up the adoption of Internet Banking.
According to Wijayarathne (2015), only one bank in Sri Lanka actually conducts a customer survey to gauge the user-friendliness of the system. Another bank mentioned that they use international standards such as number of clicks to complete a transaction and access speed etc to check the user-friendliness of the system. Other than these two banks, the majority’s view is if there is anything erroneous in the system, customers will complain.
According to Qayyum et al.(2012) survey results verified that Internet Banking website should be easy to use and attractive, as it helps in the adoption of Internet Banking, which is also supported by Loonam and O’Loughlin (2008) and Poon (2008), whereas poor navigation and poor website design creates difficulty in the usage of a site, which is against perceived ease of use (PEOU) belief, and is mostly avoided by clients.
Banks should concentrate on the investment in IT infrastructure to make the proper layout of website and accessibility is advantageous for attaining user satisfaction and engagement in the adoption of electronic banking. (Lederer et al, 2001). Moreover, Sadeghi et al. (2010), Poon et al. (2008), Casaló et al. (2008), and Liébana-Cabanillas et al. (2013), express that accessibility is advantageous for gaining user satisfaction and engagement in the adoption of electronic banking. Moreover Premarathne et al. (2016) argued that availability of access to the Internet is vital in adoption of Internet Banking.
Above findings are further strengthened by (Pikkarainen et al., 2004; Sohail ; Shanmugham, 2003), Quoting proper navigational attributes and search facilities in website contents lead to higher level of interaction, which tap the customers mind positively to use the system. Gunaratnam (2017) illustrated that certain actions, such as increasing the speed of processing information, are likely to have a positive effect on customer satisfaction and loyalty.
2.5.2 Effect of Perceived Usefulness
Perceived ease of use had a significant indirect effect on intention to adopt perceived usefulness, while its direct effect on intention to adopt was insignificant.(Premarathne et al., 2016 ). Safeena et al. (2011) and Wang et al. (2003) argued that Perceived usefulness has a positive effect on the adoption of information technology.
Above mentioned Safeena et al. (2011) logic is further strengthened by Jayasiri et al.(2016) stating that Perceived ease of use affecting perceived usefulness as intervening variable, and affect adoption of Internet Banking as well.
Davis et al.(1989) argued that decision to use new technology is determined by the extent to which a person believes that it is cost effective in providing goods or services compared to the current method. According to the above facts, author can consider perceived usefulness as a one of main independent variables.
2.5.3 Effect of Attitude
An attitude is “a relatively enduring organization of beliefs, feelings, and behavioral tendencies towards socially significant objects, groups, events or symbols” (Hogg, ; Vaughan ,2005).
The different dimensions of attitudinal belief toward an innovation can be measured using the five perceived attributes (relative advantage, compatibility, complexity, trialability and observability) specifically first three attributes of an innovation (Taylor ; Todd, 1995). These aspects were originally proposed in the diffusion of innovations theory by Rogers( 1983).
Customer Attitude is an other main factor which may negatively affecting on adoption in E- banking in Sri Lanka. Consumers who decide on not to adopt IB stated they were happy with their existing banking methods / channels and expressed concern over uncertain online security. (Premarathne et al.,2016). Laforet and Li ( 2005) argued that consumer’s attitudes towards E banking are mainly influenced by the prior experience of computer and new technology.
Early adopters have more favorable attitude toward change than later adopters with regards to IT. Previous empirical research results showed that attitude of the decision maker toward change has an effect on the adoption of innovations. Further researchers found that the decision maker’s attitude toward change has a significant positive impact on innovation adoption(Shiraj,2015 ). Moreover Sivapragasam et al .(2014) claimed that among ‘early adopters’, convenience was a most important indicator of intentions to adopt IB. Following graph will further illustrate the theoretical background of the above scenario.

Figure 5- Rogers’ Diffusion of Innovation Model

Source – Adapted from Pundak (2014)

However, According to Mr. Kasun Wijayarathna (2015), veteran banker, researcher close examination of the survey carried out in 2015, also found out that non-adopters have a negative attitude regarding adoption. “Some non adopters do not believe that Internet Banking is economical or offer any advantage compared to handling their financial matters in other ways. This suggests that banks have to work a lot in changing this attitude to convert these non-adopters to Internet Banking adopters.”. Techno-phobia is a another inhibiting factor of non IB users, where attitude towards change plays significant roles (Premarathne et al,2016).

2.5.4 Effect of Privacy and Security
Privacy and security denote the proper authorization and confidentiality of customer’s information and transactions in a bank (Katsikas et al., 2005; Kolsaker et al., 2002; Liao et al,, 2002).Moreover, the past researches suggest that privacy and security is an important factor that affect users’ intention to adopt e-based transaction systems (Ahmad et al 2011; Chen et al ,2007; ) Further Floh et al. (2006) and Lallmahamood ( 2007) claimed that, privacy and security in E- banking services motivate the customers to engage in e- banking services. According to Chang, I.-C., et al, (2007 , issues related to security have always been a concern when dealing with technologies related to internet transactions such as online banking.
According to Kumari (2016) Perceived risk have identify as the most important factor to decrease the usage level of online banking while security and financial risk adversely affected for usage level of online banking in Sri Lanka. Wijayarathna ( 2015) claimed that level of security, privacy and the reliability of the service as the risk related factors in the context of Internet Banking in SL . Further he statistically proved the significant correlation between risk barrier and the adoption of Internet Banking.. According to him, there are three aspects affect to security of Internet Banking, namely password protection, digital certifications and the efficiency of backend processes of the bank.
Since IB involve with money, people are more reluctant to use because there are lot of frauds heard all over the world (Hettiarachchi, 2015). According to the Qayyum et al. (2012) International Research, claimed that security is a second most important factor in IB, based on his results. Therefore Author can claim that security barrier is a universal risk, not limiting to the specific geographic region.
According to the Qayyum et al. (2012) Research’s results, “most of the people believe that customer oriented privacy policy is important in the adoption of E banking. Since Internet Banking will only be ‘useful’ for customers, if customers’ privacy concerns are taken into account by banks”. Regarding privacy, Yousafzai et al. (2005) believe that customer oriented privacy policy by a bank will be beneficial for both customers and banks as it will lead to valuable relationship exchanges.
2.5.5 Effect of Internet Knowledge
According to Hettiarachchi (2015) study, stating relatively moderate positive relationship