Consumers’ Switching from Cash to Mobile Payment under the Fear of COVID-19 in Taiwan

Yu, Shih-Yi; Chen, Der Chao

doi:10.3390/su14148489

Cited by 6 publications

(1 citation statement)

References 60 publications

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“…Taiwan's Executive Yuan aims for a 90% penetration rate by 2025, creating a connected, co-creative payment ecosystem. The COVID-19 pandemic has led to changes in payment habits among Taiwanese people [1], and scholars suggest that pandemic isolation has led to new consumer needs and models [2].…”

Section: Introductionmentioning

confidence: 99%

Mobile Payment Innovation Ecosystem and Mechanism: A Case Study of Taiwan’s Servicescapes

Ng,

Chen,

Chen

et al. 2024

JTAER

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This paper examines how businesses in Taiwan’s servicescapes are adapting to the growing trend of mobile payments and innovation ecosystems. Through the analysis of four case studies, we uncover the strategies these firms employ to address the challenges posed by changing consumer payment habits. Our research reveals that these companies are establishing efficient mechanisms within their ecosystems, supported by well-structured organizational frameworks. By leveraging innovation ecosystems, they are reshaping financial services and promoting collaborative growth among participants through technology, platforms, resource sharing, and knowledge exchange. This collaborative approach is driving significant changes in the sector, helping these businesses navigate through various challenges while fostering innovation and growth. Additionally, the scarcity of comprehensive observations of the digital payment ecosystem highlights the necessity for further exploration of actor interactions, regulatory mechanisms, and ecosystem management strategies. Such research efforts are crucial for enhancing our understanding of the evolving landscape of digital payments and innovation ecosystems, facilitating informed decision-making and promoting sustainable development in this dynamic industry.

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Section: Introductionmentioning

confidence: 99%

Mobile Payment Innovation Ecosystem and Mechanism: A Case Study of Taiwan’s Servicescapes

Ng,

Chen,

Chen

et al. 2024

JTAER

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Fintech adoption dynamics in a pandemic: An experience from some financial institutions in Nigeria during COVID-19 using machine learning approach

Edo

Etu

Tenebe

et al. 2023

Cogent Business & Management

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Examining the effect of perceived risk, self-efficacy and individual differences on consumer intention to use contactless mobile payment services

Kamboj,

Matharu,

Shukla

2024

JSTPM

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Purpose The purpose of this study is to examine the influence of perceived risk (perceived susceptibility and perceived severity), self-efficacy and individual differences (personal innovativeness and mobile payment knowledge) on consumers’ intention to use contactless mobile payment services (MPS). Additionally, it also empirically tested the moderating effect of hygiene consciousness in the proposed conceptual model. Design/methodology/approach The present research developed a conceptual model based on the health belief model (HBM) and diffusion of innovation theory (DOI) to empirically assess whether and how perceived risk, self-efficacy and individual differences influence consumer intention to use contactless MPS. The data was collected using the survey method from 251 smartphone users and analyzed with structural equation modeling. The moderating role of hygiene consciousness was studied in the relationship that self-efficacy and personal innovativeness shares with consumers’ intention toward contactless MPS. Findings The results of this study disclose that among all precursors of consumers’ intention toward contactless MPS, only perceived severity, self-efficacy, personal innovativeness and mobile payment knowledge positively affect consumers’ intention to use contactless MPS. However, the effect of perceived susceptibility on consumers’ intention toward contactless MPS was found to be non-significant. The results further depict that hygiene consciousness acts as a moderator in driving consumers’ intention toward contactless mobile payment services. Research limitations/implications The HBM model and DOI, which incorporate perceived risk, self-efficacy, individual differences and hygiene consciousness, give light on the factors influencing consumer intention to use contactless MPS in a pandemic situation such as COVID-19. The study will provide useful insights to marketers on how to frame their strategies in the aftermath of pandemics, as the contactless mobile payment method may be perceived as a defensive behavior during and after pandemics. Practical implications The study will provide useful insights to marketers on how to frame their strategies in the aftermath of pandemics, as the contactless mobile payment method may be perceived as a defensive behavior during and after pandemics. Originality/value By uniting perceived risk, self-efficacy and individual differences with consumers’ intention toward contactless MPS in a conceptual model, along with examining the moderating role of hygiene consciousness, this work responds to the calls for upcoming research concerning mobile payment systems as means of future payment. Thus, it offers an understanding of particular consumer motivations that may guide consumers’ intention toward contactless MPS through the theoretical lens of HBM and DOI.

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Consumers’ Switching from Cash to Mobile Payment under the Fear of COVID-19 in Taiwan

Cited by 6 publications

References 60 publications

Mobile Payment Innovation Ecosystem and Mechanism: A Case Study of Taiwan’s Servicescapes

Mobile Payment Innovation Ecosystem and Mechanism: A Case Study of Taiwan’s Servicescapes

Fintech adoption dynamics in a pandemic: An experience from some financial institutions in Nigeria during COVID-19 using machine learning approach

Examining the effect of perceived risk, self-efficacy and individual differences on consumer intention to use contactless mobile payment services

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