Impact of Perceived Severity and Susceptibility of Covid-19 Pandemic on m-Payment Continuance Intention: Using Technology Continuance Theory

Abstract

The purpose of this study is to look at the effect of customers' perceptions of COVID-19 susceptibility and severity on their m-payment confirmation, which leads to satisfaction and hence a continuance intention to use m-payment. An online questionnaire was used to conduct a survey on m-payment users to investigate the variables impacting their intention to continue using m-payment. Only experienced m-payment users were qualified to participate in this survey, and thus a purposive sampling technique was used. The data was collected between September and October 2021, and the sample includes 184 valid responses for empirical data analysis. The results show that all hypotheses are found to be significant. Perceived susceptibility and severity have a positive impact on confirmation and, in turn, user satisfaction. It is also found that attitude and satisfaction have an association with continuance intention. From the theoretical perspective, it provides a better understanding of the impact of perceived susceptibility and perceived severity on continuance intention of m-payment. At the practical level, the findings give a deeper insight into the influence of antecedent factors on m-payment continuance intention and its ability to retain users. This study regards perceived susceptibility and perceived severity as critical factors in user confirmation of the benefit of m-payment as the financial technology alternative to maintain social distance and to prevent the spread of the SARS-COV-2 virus during the pandemic. Perceived susceptibility and perceived severity were incorporated into the Technology Continuance Theory (TCT) to expand the knowledge of the impact of COVID-19 pandemic on m-payment continuance intention.