Users Supporting Multiple (Mobile) Electronic Payment Systems in Online Purchases: An Empirical Study of Their Payment Transaction Preferences

Oussama Tounekti,Antonio Ruiz-Martinez,Antonio F. Skarmeta Gomez

doi:10.1109/access.2019.2961785

Oussama Tounekti, Antonio Ruiz-Martinez + Show 1 more

Open Access

https://doi.org/10.1109/access.2019.2961785

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Abstract

The online payment for products or for the access to payment-based services can be made by means of a range of (mobile) electronic payment systems - (M)EPS. Both the industrial sector and research community, mainly World Wide Web Consortium (W3C), are working on facilitating these payment methods on Web and supporting the multiple users on how they can select the suitable (M)EPS. However, to the best of our knowledge, there were no thorough studies considering consumer's preferences when they support multiple (M)EPS. To address this issue, we have performed a survey on an international participants (n=272) aiming to (i) developed a theoretical model to determine their preferences when they are supporting more than one (M)EPS, (ii) find the most valuable option according to them and (iii) determine the surrounding conditions that support their decision to use a specific (M)EPS. The theoretical framework of this study was based on the Technology Acceptance Model (TAM). According to our statistical analysis (Chi-square test), consumers that can pay using different (M)EPS during their online payment transaction, have a preferred payment system based on its security, fees, usefulness, and ease of use as well as on their favorite Web browser for these transactions. Factor analysis was also performed to identify factors that much influence the (M)EPS. Results revealed that the factors influencing online payment preferences differ from those involved in traditional payment methods. Our findings allowed, therefore, providing practical suggestions for supporting payment processes with Web browsers and the W3C payment Application Program Interface (API).

Highlights

Internet shopping or web-based business is a reality that is seen to be in high presence recently
Which were the main reasons given by a user to prefer a particular (M)EPS? How to improve the payment process and make it easier targeting consumers with different backgrounds and in different environments? Our study aims to examine electronic payment transaction preferences for users supporting multiple (M)EPS and the effect that the characteristics of electronic and mobile payment systems could have on the choice of the preferred payment methods during the payment transaction
Based on the above theory, we have investigated the determinants of online purchasing intention [23], as well as convenience and perceived usefulness on the choice of the most preferred payment methods for the online payment transaction [10], [24]–[26]

Summary

Introduction

Internet shopping or web-based business is a reality that is seen to be in high presence recently. The Internet World Stats (2019) reported that there were more than four billion Internet users in March 2019 and the total volume of online retail e-commerce sales worldwide was about 3.5 trillion US dollars in 2019 and is expected to reach 4.9 trillion US dollars in 2021 [1]. These online payments can be made using either credit cards, or debit cards, or PayPal or Bitcoin, Apple Pay (a mobile payment system), etc

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