Predicting elderly users' intention of digital payments during COVID-19: an extension of the theory of planned behavior model

Abstract

PurposePromoting the adoption of digital payments by the elderly plays an important role in the development of the digital economy. The purpose of this study is to build an extended theory of planned behavior (TPB) model to predict the elderly's intention to pay for digital services under COVID-19 epidemic constraints.Design/methodology/approachBased on the extended TPB model, 320 qualified participants were recruited on the network. The structural equation model was tested using the SmartPLS3.3 tool, and the moderation effects were tested through SPSS26 and the Process macro.FindingsThe results showed that the three dimensions of TPB theory, the basic elements (perceived value and perceived risk), and the external environment (COVID-19 pandemic) were important factors that influence the elderly users' intention to adopt digital payments. Further research found that motivation factors (personal innovativeness, intergenerational support, and social support) can positively moderate these effects.Research limitations/implicationsThe results of the study provide a further explanation for understanding the willingness of elderly people to adopt digital payments during the COVID-19 pandemic and bring inspiration to system developers and social managers to reduce the risk of COVID-19 pandemic and increase the share of digital payments for this category.Originality/valueThis paper used the extended TPB theory to construct a fundamental environmental motivation (FEM) framework for understanding the main influencing factors of elderly users' intention to adopt digital payments during the COVID-19 pandemic.

Guest editorial: Introduction to the special issue: “social action and economic restructuring in the (post-) COVID-19 era”

“…The authors employ a neural network model to show that perceived ease of use, perceived usefulness and trust are significant determinants of adopting social banking, building upon insights provided by the earlier papers. Moving on to technological advances in the finance sector, the paper "Predicting elderly users' intention of digital payments during COVID-19: an extension of the theory of planned behavior model" by Zhu et al (2024) constructs an extended theory of planned behavior model to forecast elderly individuals' intention to use digital payment services under COVID-19 constraints. This research broadens our understanding of the elderly's willingness to adopt digital payments and complements earlier contributions by emphasizing the influence of technology on consumer behavior and business strategies during the pandemic (Sarwar et al, 2022).…”