An Examination of Mobile Banking and Mobile Payments: Building Adoption as Experience Goods?

Cheney, Julia S.

doi:10.2139/ssrn.1266809

Cited by 9 publications

(8 citation statements)

References 4 publications

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“…Trust is a key factor with Malaysian consumers according to Yan et al (2009) Whilst payment guarantees positively influence trust for UK consumers this is dependent upon these UK consumers being aware of and understanding the payment guarantees within the existing legal and regulatory frameworks (Cheney, 2008). However, a number of UK consumers indicate that they are not aware of the contactless payment guarantees provided by UK banks including Charlie who says 'I am not aware of the bank guarantee on contactless payments' and Julia who says 'I am not aware of the bank's payment guarantee'.…”

Section: Perceived Trust Has a Positive Effect On The Perceived Usefumentioning

confidence: 99%

A mixed methods empirical exploration of UK consumer perceptions of trust, risk and usefulness of mobile payments

Hampshire

2017

IJBM

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Purpose The purpose of this paper is to explore UK consumer perceptions of trust, risk and perceived usefulness of mobile payments through the use of sequential mixed methods. Design/methodology/approach A post-positivist philosophy is used with a social constructionist ontology with a questionnaire as the first survey instrument using an empirical sequential mixed methods approach. Summary quantitative analysis of the questionnaire data is undertaken followed by semi-structured interviews that produce qualitative data on which content analysis is undertaken to assess and explore UK consumer perspectives. The technology acceptance model is used as the underlying framework on which a conceptual model is developed. Findings UK consumers have significant risk and trust concerns with mobile payments, although these concerns can be overcome when clear consumer benefits are identified whilst bank supported mobile payments have an increased level of trust compared to new market entrants and other established companies. Furthermore, perceived trust positively influences perceived usefulness and mitigates perceived risk, whilst perceived risk negatively influences perceived usefulness. In addition, perceived usefulness significantly and positively influences UK consumer attitude which can lead to adoption. Research limitations/implications Whilst 120 completed questionnaire responses are received, only 101 questionnaires are used for analysis. In addition, ten semi-structured interviews are undertaken using a purposeful sample to minimise any imbalance (Oakley, 1981) which increases the reliability of the research findings (Hackley, 2003). This mobile payments research does not have a statistically secure universalisation of the findings, which negates the application of these research findings to other groups and to different social settings (Lincoln and Guba, 1985). Practical implications Mobile payment organisations will need to focus on identifying the specific benefits of mobile payments to UK consumers as mitigating risk and increasing trust do not compensate for the absence of usefulness. Social implications UK consumers indicate a lack of awareness of existing contactless payment guarantees provided by UK banks, although these payment guarantees significantly increase UK consumer trust. Originality/value Both quantitative and qualitative empirical data are obtained on UK consumer perspectives of risk, trust and perceived usefulness of mobile payments using sequential mixed methods.

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Section: Perceived Trust Has a Positive Effect On The Perceived Usefumentioning

confidence: 99%

A mixed methods empirical exploration of UK consumer perceptions of trust, risk and usefulness of mobile payments

Hampshire

2017

IJBM

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“…The term "experience" in experience goods covers the concept of consumers objectively evaluating products' empirical value based on their experience and then assigning this value to merchandise, services, brands, or technology [16]. In other words, consumers who have not yet bought experience goods cannot accurately perceive the quality of the commodity before the purchase.…”

Section: Theoretical Background 21 Impulse Buyingmentioning

confidence: 99%

The Impact of Impulse Buying and Network Platforms on Consumer Purchasing Behaviour: A Case Study of a Technical Product

Wang

Liu

2019

Teh. vjesn.

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This paper investigates the effects of impulse buying and network platforms on the online purchasing behaviour for experience goods using a 2 (low impulse buying tendency vs. high impulse buying tendency) × 2 (mobile platform vs. computer platform) between-subjects factorial experiment.A technical product is a typical type of experience good. To increase the external validity of the conclusions, this study takes software as a technical product and employs an online scenario-simulated experiment to collect data. The results indicate that low impulse consumers tend to spend less money and conduct more stringent budget control when purchasing a technical product. However, no significant difference existed between high and low impulse consumers regarding the purchasing decision. Furthermore, consumers who shop on a mobile platform tend to spend more money, conduct looser budget control and make more careful purchasing decisions. In addition, a remarkable effect also exists between impulse buying and network platforms regarding the average viewing time of the single page and the commodity details page.

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“…In such countries, mobile payment is likely to be the path to the adoption of mobile financial services while lower adoption of mobile banking is expected (p. 16). 21 Mobile financial services can indeed have enormous social and economic benefits. Traditionally, people who want to send money need to travel to deliver the cash in person or ask an intermediary, such as a bus driver, to deliver the money.…”

Section: Mobile Paymentmentioning

confidence: 99%

“…Relating to the technological tools, credit institutions providing mobile banking services rely on one or a combination of the following three strategies: text messaging, browser-based programmes or downloadable mobile banking applications (p. 6). 21 …”

Section: Mobile Bankingmentioning

confidence: 99%

Legal issues in mobile banking

Weber

Darbellay

2010

J Bank Regul

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The use of mobile phones in order to effectuate banking transactions is bound to increase in a significant way in the near future. This growth in mobile financial services not only depends on technological advances, but also on consumer confidence in the provided services. Mobile financial services can be divided into mobile banking and mobile payment; therefore, legal certainty must be established as to what supervisory regime applies to the various activities involving banks and non-banks. Mobile banking activities fall within the scope of the banking business, and oversight is provided by the competent financial market authority for prudential supervision, if the definition of banking activities encompasses all relevant mobile banking activities. Furthermore, legal aspects also play a role in the evolution of mobile banking as far as the need to enhance customer trust in the offered services is concerned. Major issues arise in relation to data security and consumer protection. Moreover, the outsourcing of certain key activities to mobile operators deserves further attention, as mobile operators can, under specific circumstances, become deeply involved in mobile banking.

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An Examination of Mobile Banking and Mobile Payments: Building Adoption as Experience Goods?

Cited by 9 publications

References 4 publications

A mixed methods empirical exploration of UK consumer perceptions of trust, risk and usefulness of mobile payments

A mixed methods empirical exploration of UK consumer perceptions of trust, risk and usefulness of mobile payments

The Impact of Impulse Buying and Network Platforms on Consumer Purchasing Behaviour: A Case Study of a Technical Product

Legal issues in mobile banking

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