Exploring the Cognitive, Affective, and Behavioral Responses of Korean Consumers Toward Mobile Payment Services: A Text Mining Approach

Abstract

The purpose of this study was to examine the cognitive, affective, and behavioral responses of Korean consumers toward mobile payment services based on the tri-component model by using a text-mining technique. Samsung Pay was chosen it is used in both online and offline transactions. We targeted social media data posted during the period between 1 July 2016 and 31 December 2016, which was about one year after Samsung Pay was launched. We conducted word frequency analysis, clustering analysis, and association rules using R programming. The results were the following. First, the 50 most frequently used words referenced the brand names of the mobile devices, payment methods, and the procedures and unique functions of Samsung Pay compared to other types of payment methods. Second, we classified the terms into 24 categories (11 categories of cognitive responses, 10 categories of affective responses, and 3 categories of behavioral responses) based on the tri-component model. The results of the clustering analysis based on the 24 categories showed a clear split between positive and negative responses at the macro level. The positive responses were further clustered into four groups, while the negative responses were fused into two groups at the micro level. Third, the association rules produced 65 rules, and we found that economic benefits played a great role in the positive feelings and continuous use of mobile payment services. This study offers valuable implications that may help mobile payment marketers with delivering services that correspond to consumer values and expectations, thus increasing consumer utility and satisfaction.