Continuous Usage Intention of Mobile Payment Platform

Abstract

The prevalence of mobile smart devices, improvements to mobile communication network infrastructure, and development of online financial transaction technology have made mobile payment a key role in e-commerce. Mobile payment's features such as convenience, speed, real-time transfers, and being environmentally friendly have gradually made it a popular method of payment among consumers. Although mobile payment provides numerous benefits to consumers, its payment application and privacy have hidden concerns that deter them. China has the largest number of mobile payment users worldwide; therefore, this study recruited Chinese consumers as research subjects. An online questionnaire was used to examine the perceived benefit (PB), trust (TRU), subjective norm (SN), attitudes toward use (AU), continuous usage intention (CUI), and perceived risk (PR) of consumers related to mobile payments. The questionnaire received 504 responses; 30 were eliminated from participants who did not use mobile payment or that were invalid, leaving 474 valid responses for a valid response rate of 94.05%. The research results showed that: (1) PB, TRU, SN, and AU had significant positive effects on the CUI of consumers; (2) PB, TRU, and SN had significant positive effects on the AU of consumers; (3) AU partially mediated the positive effect of PB on CUI and that of TRU on CUI, and completely mediated the effect of SN on CUI; and (4) PR had significantly and negatively mediated the effects of PB, TRU, SN, and AU on consumers' CUI. Table 3 indicates that PB had a significant positive effect on CUI (β = 0.516, t = 13.071, p ≤ 0.001), the explanatory power of the model after adjustment was 26.4%, and F (1,472) = 170.853 achieved a significant level (p ≤ 0.001), indicating that high consumer PB of mobile payment was associated with high CUI. Therefore, H1 was supported. Similarly, Models 2-4 revealed that TRU (β = 0.332, t = 7.655, p ≤ 0.001), SN (β = 0.205, t = 4.547, p ≤ 0.001), and AU (β = 0.341, t = 7.654, p ≤ 0.001) had significant positive effects Model 1 in

The Effect of Perceived Risk on Value and Adoption of Proximity Mobile Payments

“…Inconsistent with previous research (Abdul-Hamid et al 2019;Chen et al 2020;Lin et al 2020), the findings of this study suggest that privacy risk is not quite relevant to consumers when it comes to forming value perceptions regarding proximity mpayments. The results of the study suggest that customers are more concerned with psychological and time risks than the consequences that may result from a potential privacy breach or misuse of their personal data.…”

“…Perceived psychological risk was found to have the largest influence on perceived value of m-payments, followed by time risk. The result pertaining to psychological risk is in tandem with prior findings of Leong et al (2020) and Chen et al (2020), suggesting that users of m-payment applications anticipate frustration or anxiety if the payment is unsuccessful or if they are unsure of how it works.…”

“…Abdul-Hamid et al (2019, 11) suggest that customers are more concerned with the financial loss associated with privacy risk than with the risk of losing personal information that can lead to identity theft. It was, however, found that perceived privacy risk has an impact on the perceived value of a new technology and its ultimate adoption (Chen et al 2020). Even though concerns about privacy make customers more reluctant to use m-payments, if they see the value of using the payment mode, adoption intention is enhanced (Leong et al 2020;Yang et al 2015).…”

Continuance intention in financial technology: a framework and meta-analysis

“…Many studies justify the importance of studying the Fintech continuance intention due to the rapid growth in investments and the number of users who have adopted these technologies (Chan and Yao, 2020), as well as the gaps in the literature that allow further studies (Talwar et al. , 2020).…”