ABSTRACT
This study investigates the factors influencing Generation Y and Z's satisfaction and perceived enjoyment of using E-wallet. This paper further assesses whether consumers perceived enjoyment and satisfaction with using E-wallet would significantly affect their impulsive buying behavior. PLS-SEM was conducted based on 201 valid responses from active E-wallet users collected through an online survey. The results revealed that perceived interactivity and subjective norm positively influenced perceived enjoyment and satisfaction with using E-wallet, respectively. Perceived risk had no significant impact on perceived enjoyment and satisfaction with E-wallet, whereas visual appeal positively influenced perceived enjoyment but not satisfaction. Moreover, this study found that perceived enjoyment of using an E-wallet positively affected impulse buying while satisfaction with E-wallet had no significant relationship with impulse buying. Implications and recommendations for future research are discussed in this paper.
ABSTRACT
With the advance of smart devices and financial technologies in place, economic transactions involving mobile payments are becoming increasingly preferred. The COVID-19 pandemic has further promoted the adoption of mobile payment since it is faster and more hygienic than cash payment. However, empirical evidence is scarce on whether people would react differently when the transaction is made through mobile or cash payment. In this paper, we examine whether the payment method has an impact on prosocial decisions and risk attitudes using standard laboratory games such as the dictator game, the ultimatum game as well as the conventional Holt and Laury (2002) risk assessment. After controlling a rich set of demographic characteristics, including age and gender, we find subjects are more generous when they use mobile payment compared to cash, but the payment effect on risk attitude is not evident.
ABSTRACT
E-commerce has become an integral part of citizens' lives, due to the ease of use as well as the Covid_19 constraints that has limited direct interactions between people. In order to extend e-commerce, it is necessary to improve payment systems by allowing more comfort and security to citizens. This paper introduces a new payment system using a digital wallet supported by telephone operators. This solution integrates daily financial transactions and puts an end to the liquidity problem, which has become a major concern for many citizens in several countries. The creditor-debtor transaction is done by an exchange of information using a QR code. The payment process is carried out in real time with an acceptable level of security.
ABSTRACT
During the Covid-19, more and more consumers complete transactions on mobile devices and enjoy their orders at home. However, it is unknown whether mobile payment will become normal when they return to restaurants. Results show that the perceived inconvenience of cash, the perceived convenience of mobile payment and deal proneness facilitate the intention of consumers to switch to mobile payments. The perceived security and privacy, perceived health risk, consumer innovativeness, and social influence have a direct bearing on consumer intent to switch to mobile payment and moderate switching intention. This study also provides theoretical and managerial implications. © 2023 The Author(s). Published with license by Taylor & Francis Group, LLC.
ABSTRACT
The present study aims at understanding and analyzing the COVID-19-induced behavioral change spurting artificial intelligence (AI) adoption in Indian banking industry. The study has further identified and analyzed the usage pattern of Indian customers for mobile banking/online banking services in the pre-pandemic phase and progression of Indian customers for mobile banking/online banking services during the pandemic. Secondary data has been used for deep understanding of the AI adoption in Indian banking industry, with reports from McKinsey, PWC, RBI, NPCI, BIS, etc., to form the base. The period of study was taken from 2016 to 20, and this was taken keeping in mind the timing of another unprecedented event of demonetization. Behavioral change of Indian banking industry customer was assessed on three broad parameters change in value and volume of mobile banking transactions on year on year basis. COVID-19-induced behavioral change translating in massive jump of 178% in volume of mobile transactions between March 2019 and 2021. The increase in number of smart phone users and access to connectivity and desired technology has helped the cause. With 2020–21 punctuated by several nationwide as well as localized lockdowns adoption of AI for customer engagement has been crucial for Indian banking industry, which has further translated in to designing and customizing products and risk profiling of customers further resulting in increased operational efficiency and intuitive decision making. The behavioral change induced by COVID-19 in the Indian baking industry achieves competitive advantage by truly responding to huge customer data base which has been utilized by other financial industries as now it can have systems which understand and are responsive to behavior of varied customers. From responses feeded chatbots to intuitively responsive AI bots, the customer engagement is going to be a whole new experience which will help in customer acquisition and retention. Further, with falling data storage costs, increasing processing speeds and capabilities and improved connectivity and access for all has helped the rapid automation and AI adoption. Enterprise level adoption of AI has led to revenue generation and optimization of functional resources this reducing the cost at functional level. The AI adoption has been continuous from the banks over the years though banks have started to harness its potential in the recent years with customers adoption of smart hand-held devices. © The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2023.
ABSTRACT
The present study aims to identify the main determinants of mobile payment adoption in tier-II cities, specifically in the wake of COVID-19. We tried to contribute to the existing body of knowledge by proposing a model that combines two constructs, i.e., intrinsic motivation and perceived credibility in an extended unified theory of acceptance and use of technology (UTAUT2). The research model was empirically tested using 450 responses from a questionnaire-based survey conducted in India. Data was analysed using structural equation modelling (SEM). We found intrinsic motivation and effort expectancy as the most significant determinants of the behavioural intentions to adopt mobile payment in tier-II cities of India. COVID-19 also emerged as a factor, but not the most important factor in the study. The study has relevance for practitioners also because understanding the key constructs is crucial to design, refine, and implement mobile payment services. Copyright © 2023 Inderscience Enterprises Ltd.
ABSTRACT
Amid the pandemic infection, people are bound to use contactless mobile payment (M-Payment) services. M-Payment is a payment method using an application in a mobile device, such as a mobile phone, and gadget. Owing to the convenience, reliability and contact-free feature of M-Payment, it has been diffusely adopted to reduce the direct and indirect contacts in transactions, allowing social distancing to be maintained and facilitating the stabilization of the social economy. Consequently, it has become one of the day's most important topics. Therefore, the purpose of this study is to provide a systematic literature review (SLR) on the applications of M-payment services in financial strategies, focusing on the pandemic crisis. 19 papers were collected and divided into three groups for further analysis. The results showed that M-Payments applications in financial strategies during the pandemic crisis could help reduce the spread of infection risks by hastening the transition to touchless habits. © 2023 World Scientific Publishing Company.
ABSTRACT
PurposeThis study aims to investigate the motives of mobile payment adoption from both customers' and retailers' perspectives in Sri Lanka during the COVID-19 pandemic period. It also aims to compare the motives of mobile payment adoption across rural and urban contexts.Design/methodology/approachThe study employs a mixed-method approach with a concurrent research design. Both a survey of customers and in-depth interviews of managers in retail companies are used.FindingsThe study discloses that performance expectancy and facilitating conditions (PEFC), Hedonic motivation (HM) and perceived technology security (PTS) as significant motives for customers to adopt mobile payment during this pandemic period. Such findings are confirmed by the four challenges disclose by the retailers. The unfamiliarity of customers, lack of employees' knowledge on mobile payment systems, poor management orientation and lack of computer literacy of customers are the main challenges from the retailers' perspectives. Further, it shows, though PEFC is a common motive, other motives are different across rural and urban.Practical implicationsThe findings of the study are helpful for retailers and policymakers. Retailers can develop strategies to enhance mobile payment adoption through PEFC, HM and PTS by giving special attention to the rural community. The main motive possible to use in both rural and urban contexts is PEFC. Further, retailers should take the initiatives to uplift the technological know-how of their employees while inculcating supportive management orientation. Policymakers can use this study to develop policies to enhance the community's familiarity with mobile payment technology and computer literacy.Originality/valueTo the best of the authors' knowledge, this is the first study to investigate motives for adopting mobile payments from both customers' and retailers' perspectives while being the first scrutiny to compare rural and urban scenarios. The use of mixed methods with concurrent research design also contributes to originality.
ABSTRACT
The COVID-19 pandemic impacted many if not all aspects of our lives, including the way we handle money. This paper takes mobile payments as an example to show how COVID-19 affected the United Arab Emirates. Many researchers rushed into writing their first impressions in response to the pandemic to produce early study results. This paper uses these early electronic articles and blogs as valuable data sources for a first-level analysis. It attempts to assess the impact of COVID-19 on mobile payment services in the post-pandemic world from the demand and supply perspective in the UAE. The previous literature has been reviewed to understand the scope of the services present in the UAE before the onset of the pandemic. Further, an online questionnaire with open- and closed-ended questions was used to gather data from 125 vendors capable of receiving mobile payments. Regression analysis with two time periods has been included to develop a better perception of mobile payment services before and after the spread of the coronavirus. It was found that COVID-19 has created a suitable environment for mobile payments, with significant positive relationship in both periods. The reasons for using mobile payments during the pandemic were to apply social distancing and to avoid physical touch, a requirement in the COVID-19 period, resulting in a move towards creating a positive attitude towards a cashless society. © 2023 by the authors.
ABSTRACT
The popularity of the Internet and smartphones has led to the rapid development of mobile payment. Because of its fast, convenient and contact-free characteristics, it has accelerated the utilization rate of mobile payment in the context of the raging of COVID-19. Even so, merchants in traditional business circles in Taiwan still do not provide mobile payment services. Secondly, most of the current literature on mobile payment is still discussing the usage behavior of consumers, and there are few related researches on merchants. Therefore, this study takes merchants in the Dadaocheng business district of Taipei City as the research object, and explores the influence of subjective norms on the introduction of mobile payment by traditional merchants through one-to-one interviews. The research result is that the handling fee will increase the operating cost, affect the profit of the store, and become the main obstacle to the implementation. However, merchants will pay attention to the use of mobile payment by surrounding stores, and will affect the decision of store A as to whether to install. © 2022 ACM.
ABSTRACT
Due to the popularity of smartphones, cameras can be seen everywhere. QR codes are widely used daily, and their application is becoming more and more diverse, such as for warehouse management, electronic tickets, mobile payment, etc. As COVID-19 rapidly spread worldwide, people were forced to change their payment habits. Contactless systems, such as electronic tickets, became increasingly used to display information and avoid traditional queues. However, the standard QR code comprises black and white squares in monochrome images, which is not visually appealing. Yet, the easiest way to present a theme in a QR code is an image, which is more eye-catching and easier to understand than text. In this study, we devise an IS-QR method to integrate full-color images with QR codes by instance segmentation, using BlendMask to extract image feature regions and take Human Visual System into account. Discrete wavelet transform and contrast sensitivity were used to lessen the impact of reduced readability of QR codes during printing. Representative image visual quality measures, including PSNR, MSE, SSIM, FSIM, and GMSD, were used to measure the experimental results in order to validate the effectiveness of QR code beautification. The subjective quality evaluation is also performed. Finally, the measurement results indicate that the beautified QR codes generated by the method IS-QR designed in this study perform better than other related studies in terms of visualization and beautification. © 2022 Elsevier Inc.
ABSTRACT
The Coronavirus Disease 2019 (COVID-19) epidemic is causing once-in-a-century upheavals in global civilization. Payment systems have advanced lately, from simple cash or credit card transactions to various forms of mobile payment systems. This transformation is occurred due to COVID 19 and shifts in the economy, the growth of social networks, technical advancements on the Internet, and the increased usage of mobile devices. Throughout COVID19, this article offers a unique approach to the payment scheduling issue, which seeks out a timetable that enhances the project's stakeholders' benefit. Both the sponsor and the contractor in a project want to have a strong payment plan on their own. To create an equal schedule between the sponsor and the development team, the timing of payments and the completion periods of project activities are decided concurrently. The Harris hawks optimization method is designed to tackle the problem because of its high NP-hardness. Harris hawks optimization is a novel meta-heuristic nature-inspired optimizer inspired by how Harris hawks hunt food in nature. By comparing the suggested Harris hawks optimization optimizer to existing nature-inspired methods, the efficacy of the suggested Harris hawks optimization optimizer is determined. The Harris hawks optimization algorithm appears to be highly promising based on the statistical findings and comparisons. The MATLAB simulator's simulation findings confirm the algorithm's superiority over earlier efforts regarding energy, cost, delay time, and net value. © 2023, The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.
ABSTRACT
This research examined the determinants of e-satisfaction, continuance intention, and e-loyalty regarding the use of mobile payment applications (MPAs). It developed and validated the electronic technology continuance model (e-TCM) integrating a psychological factor (perceived threats), e-satisfaction, circumstantial factor (perceived anxiety), and the dimensions of quality. Using a questionnaire, data was collected from 455 respondents and analyzed using structural equation modeling. The influences of information quality, service quality, system quality, perceived usefulness, and confirmation on both e-satisfaction and continuance intention are found positive. However, perceived threats and perceived anxiety do not influence e-satisfaction but influence continuance intention. Moreover, e-satisfaction positively impacts continuance intention and e-loyalty;and continuance intention positively impacts e-loyalty. This research evidences the roles of perceived threat, e-satisfaction, perceived anxiety, and the dimensions of quality on customers' e-satisfaction, continuance intention and e-loyalty, using the integrated framework comprising the health belief model, expectation–confirmation model, and information systems success model. The findings of this research can guide MPA services providers, online businesses, industry analysts, suburban consumers, and respective government authorities when MPA usage is concerned during any unprecedented crisis such as the COVID-19 pandemic. © 2023, The Author(s), under exclusive licence to Springer Nature Limited.
ABSTRACT
PurposeThis paper assesses the continuance intention (CI) for mobile-based payment (M-payment) services following the COVID-19 pandemic by combining the self-efficacy construct with the electronic service quality model.Design/methodology/approachThis exploratory, cross-sectional research employs qualitative and quantitative research methods;specifically, a questionnaire and interviews. A total of 403 Jordanian participants completed valid questionnaires. Mediation and moderation evaluations assessed the M-payment service quality (MPSQ), self-efficacy and health concerns (HC) to determine CI.FindingsThe results verify the significance of MPSQ and self-efficacy in developing CI and show the mediating influence of self-efficacy between MPSQ and CI. Moreover, HC negatively impact the self-efficacy/CI link.Practical implicationsThis research benefits M-payment service providers seeking to secure customer loyalty via improved M-payment services. The behavioral intention investigation will provide rich information about potential customers' CI and illuminate areas for development.Originality/valueThis research makes an original contribution to the existing M-payment literature by investigating the impact of customers' perception of service quality on their CI to utilize M-payment services, balanced with self-efficacy and HC.
ABSTRACT
BACKGROUND: Waiting for a long time to make payments in outpatient wards and long queues of insured patients at the checkout window are common in many hospitals across China. To alleviate the problem of long queues for payment, many hospitals in China have established various mobile apps that those without health insurance can use. However, medically insured outpatients are still required to pay manually at the checkout window. Therefore, it is urgent to use information technology to innovate and optimize the outpatient service process, implement mobile payment for medically insured outpatients, and shorten the waiting time for outpatients, especially in the context of the COVID-19 epidemic. Furthermore, smartphone-based mobile payment for outpatients with health insurance could be superior to on-site cashier billing. OBJECTIVE: This study aimed to investigate the impact of smartphone-based mobile payment in relation to different aspects, such as waiting time, satisfaction with patients' waiting time, payment experience, the proportion of those dissatisfied with payment, total outpatient satisfaction, and outpatient volume, and compare mobile payment with on-site payment. METHODS: This was a historically controlled study. This study analyzed the outpatients' waiting time to make a medical insurance payment, their satisfaction with the waiting time and payment experience, the proportion of those dissatisfied with payment, and the outpatient volume of patients at Guangzhou Women and Children's Medical Center 1 year before and after the implementation of mobile payment for medical insurance in January 2021. An independent sample 2-tailed t test was used to compare waiting time, satisfaction with waiting time, and overall satisfaction. Paired sample 2-tailed t test was used to compare monthly outpatient visits. The chi-square test was used to compare the percentages of patients dissatisfied with payment. RESULTS: After the implementation of mobile payment for medical insurance outpatients, the patients' payment waiting time was significantly shortened (mean 45.28, SD 10.35 min vs mean 1.02, SD 0.25 min; t9014=53.396; P<.001), and satisfaction with waiting time and payment experience were significantly improved (mean 82.08, SD 3.17 vs mean 90.36, SD 3.45; t9014=-118.65; P<.001). Dissatisfaction with payment significantly decreased (10.27%, SD 2.18% vs 1.19% vs SD 0.30%; P<.001). The total satisfaction of outpatients significantly improved (mean 86.91, SD 3.23 vs mean 89.98, SD 3.31; t9014=-44.57; P<.001), and the outpatient volume increased (248,105.58, SD 89,280.76 vs 303,194.75, SD 53,773.12; t11=2.414; P=.03). Furthermore, payment efficiency improved, and the number of the on-site cashiers substantially decreased. CONCLUSIONS: Mobile payment for health insurance significantly shortened patients' payment waiting time; improved patient satisfaction on waiting time and payment experience and overall satisfaction; reduced the proportion of patients who were dissatisfied with payment and the cashier at the hospital; and increased monthly outpatient volume. This approach was effective and thus worthy of promoting.
ABSTRACT
This research studies the effects of the religiosity on financial technology (fintech) adoption. The study examines religiosity as part of the Technology Acceptance Model (TAM) dimensions for the adoption of mobile payment technology. We explore the role of religiosity in TAM and recommend several policies for related organizations. The study uses professional sample calculation from 113 traditional markets under Perumda Pasar Jaya as a business entity whose capital is wholly or mostly owned by the regional government through regional assets of DKI Jakarta Province, Indonesia, which use mobile payment technology. We obtained 363 respondents from June 2020 to June 2021, coinciding with the Covid-19 pandemic. Hypothesis testing was done employing SmartPLS 3.2.9 software and questionnaires. The study also adapts previous studies to ensure the questionnaires are relevant to the research objects. The research result show that religiosity explained the formation of TAM by small businesses in traditional markets under Perumda Pasar Jaya Management. Religiosity and the adoption of mobile payment technology determined whether a user used fintech or not. As the research period was limited to June 2020-June 2021, including field research in the traditional markets, newer TAM mobile payment technology development and other TAM mobile payment-based research were not included. This research offers a new TAM development model using relig-iosity for mobile payment adoption in traditional markets. © 2023 by the authors;licensee Growing Science, Canada.
ABSTRACT
Experts and industry reports agree that the COVID-19 crisis spurred the adoption of new retail technologies, like mobile payment. However, empirical academic evidence that compares their adoption and usage before, during, and after the crisis remains scarce. So far, academic mobile payment research has focussed almost entirely on the different building blocks of technological acceptance models, like perceived usefulness and ease of use, and their role in explaining intention to use. We need to learn more about the profile of the actual user. In this Belgian study, we investigate the evolution in mobile adoption based on survey data from 2019 to 2020 (2019: N = 897;2020: N = 895). We examine differences in the profile of mobile payers in terms of their socio-demographics, retail, and social media behaviours. The pandemic triggered a clear uplift in mobile payment users between 2019 to 2020. Nonetheless, striking differences in socio-demographic profile and retail patronage remain. Our data shows that there is still inequality in adoption, related to age and social grade. We also observe a clear association between general impulse buying tendency and mobile payment. The link between internet/online shopping and mobile payment is firmly established. Finally, mobile adoption is related to the use of Instagram and Facebook. Consequences for retailers, researchers and public officers are further discussed.
ABSTRACT
Since the lifestyle changes made during the COVID-19 period, the factors influencing the adoption of mobile payments are shown in this study during the COVID-19 Pandemic in Indonesia, a total of 408 respondents were collected and only 402 respondents are in accordance with the provisions of the research, data collection using google form and analyzed using SmartPLS, the questions were collected on google form and then disseminated using social media such as Line, WhatsApp, Discord, and Instagram starting on April 15th to May 23rd, 2022. The results showed that one hypothesis was rejected. Namely Performance Expectancy on Intention to use Mobile Payment. While the others are accepted for a positive impact, either directly or indirectly, on intentions to use mobile payments. © 2022 IEEE.
ABSTRACT
The changes brought to retail as a result of the COVID-19 pandemic have forced an adjustment in consumer shopping behaviour. In addition to keeping distance, wearing masks, gloves and using disinfectant fluids, buyers were asked to forgo paying for the purchases with cash and use payment cards or mobile devices. The purpose of this paper is to identify similarities and differences in payments for grocery purchases in stationary retail shops during the COVID-19 pandemic by two consumer age cohorts, generations X and Y (Millennials). To compare the payment behaviour of the two generations, a CAWI survey was conducted during the second wave of the COVID-19 pandemic. The survey sample consisted of 650 individuals. Based on the variables for the three forms of payment (cash, payment cards and mobile payments), that buyers made in five types of shops (discount, supermarket, hypermarket, convenience shop and branch shops such as bakery and retail vegetable/fruit supply), a cluster analysis (Ward's method) was conducted. Four types of consumers were identified in each generation. The following similarities were found in payment behaviour in stationary retail outlets: In both generations, consumers most often pay for purchases by card and in each of them, a group using this form of payment almost exclusively can be distinguished. In contrast to Generation Y, otherwise known as the Millennials, Generation X includes customers who most often pay for the purchases in cash. Among Millennials, on the other hand, it is possible to identify consumers who prefer to use mobile payments and occasionally pay in cash. © 2022, The Author(s), under exclusive license to Springer Nature Switzerland AG.
ABSTRACT
Purpose - Due to country-wise lockdown and state-wise curfews in COVID-19, people were not able to make offline payments (i.e. cash payments) during purchases in India. So, people are switching their payment behavior from offline to online mode. But, as per the central bank report, the rate of adoption through mobile payments is still slow. The paper focuses on identifying critical barriers to mobile payment systems (MPSs) adoption in India. Innovation resistance theory (IRT) has been used as a base model for barriers, despite the wide range of choices of barriers avail- able in the MPSs context. Additionally, three external variables which are out of the wider coverage of IRT constructs were incorporated in this paper. The study, on the other hand, adds to innova-tion resistance theory in the frame of reference of MPSs from a theoretical perspective. Interpretive structural modeling (ISM), together with MICMAC analysis is brought into play to analyse the direct and indirect relationship amongst the barriers.Research methodology - ISM approach has been used to establish the relationship among the eight (08) identified barriers, through literature and expert opinions. The key barriers to high driving power are then identified with the help of MICMAC analysis. Findings - The results reveal that value barrier (b2), image barrier (b5) and visibility barrier (b7) are the most significant variables. Interestingly, IRTs' risk barrier (b3) and privacy barrier (b6) from the literature fall in the lowest level of the ISM model. The majority of the barriers fall under quadrant III of MICMAC analysis, indicating the high driving and dependence power.Research limitations - The developed ISM model is based on the sentiments of five (05) experts, which could be biased and influence the structural model's final output. Due to COVID-19, data has been collected through online video conferencing mode, this may vary if data will be collected through an offline or face-to-face interview. The proposed model's key findings aim to assist in explaining the barriers that exist during MPS adoption.Originality/Value - This study is the first attempt to use the ISM approach in conjunction with IRT to detect barriers within MPSs. The result of this paper will guide and motivate the researcher to analyse more critical barriers with IRT to contribute to the theoretical development.