Mobile Banking Use and Consumer Readiness to Benefit from Faster Payments

Attributes needed for Japan’s central bank digital currency

“…For example, in the case of Age75_79, the results for E-mobile, D-fast-mobile, M-fast, and All-fast-mobile show that respondents in this group increase the probability that electronic money, debit card, mobile payments, and credit cards would be top-ranked by 9% point (Bar with horizontal lines), 12% point (Black bar), 12% point (Gray bar) and 20% point (Light gray bar), while respondents on average increase the probability that electronic money, debit card, mobile payments, and credit cards would be top-ranked by 31% point (Black triangle), by 38% point (Black circle), by 36% point (Dark gray circle) and by 32% point (Light gray circle). These results are similar to the findings by Hayashi and Toh (2020) using the US data that banked households that are lower income, less educated, older, not in the labor force, disabled, unmarried, or in a rural area are significantly more likely to lack a smartphone and home internet access, are less likely to use mobile banking and thus are unlikely to benefit from faster payments. In contrast, three right panels of Figure 3 show that the results of the counterfactual simulations for middle-age, high-income, and high-asset holdings groups: Age55_59, Income_1500_, and Asset_2000_.…”

“…Second, recent studies in foreign economies on the choice of payment methods include Esselink and Hernández (2017) for the Eurozone; Trütsch (2020), Hayashi and Toh (2020), Greene et al (2017), Koulayev et al (2016), Briglevics (2014), andBorzekowski et al (2008a,b) for the US; Kim et al (2020), Henry et al (2018), Wakamori andWelte (2017), andChen et al (2017) for Canada; Brown et al (2020) for Switzerland, and Jonker et al (2018) for the Netherlands; however, the literature on the choice of payment methods using the characteristics approach since Hirschman's (1982) study is relatively small except for Borzekowski and Kiser (2008a) and Kim et al (2020).…”

Person-to-business Instant payments in Colombia: would it stick?

“…Cards are important as they are the predominant electronic payment instrument in P2B retail transactions and will be active contestants to IP. Mobile payments such as Daviplata, Nequi and Movii, are key because they are the current IP offer and the closest to the last mile for an interoperable IP ecosystem (Hayashi and Lei-Toh, 2020). Finally, online bank transfers are becoming popular among merchants because they do not have to pay to accept them, given that the transaction fee is in many cases borne by the payor.…”

The Effect of Benefits Offered and Customer Experience on Re-use Intention of Mobile Banking through Customer Satisfaction and Trust

“…Time-saving can be seen from the duration of time when using the mobile banking application for each transaction. According to Hayashi and Toh (2020), the benefits offered are faster payment services through access to mobile banking, internet banking, and physical bank branch offices. Of all these benefits, mobile banking provides the most benefit of faster payments.…”