Mobile Payment Platform Research Articles

Evaluating the Sabah Pay Mobile Application (e-Wallet) using the Technology Acceptance Model

The Sabah Pay e-wallet has been introduced as a digital payment solution in the state of Sabah, Malaysia, as part of a digital transformation initiative. However, there is a lack of comprehensive understanding regarding its user acceptance and the factors influencing it. Specifically, there is a need to investigate whether users perceive Sabah Pay as useful and easy to use. This research problem arises due to the importance of user acceptance in the success and sustainability of the e-wallet. Hence, we used the technology acceptance model (TAM) to analyse the perceived usefulness (PU) and customer satisfaction in using the Sabah Pay mobile application and the relationship between perceived ease of use (PEOU) and customer satisfaction using the Sabah Pay mobile application. The Cronbach's Alpha and composite reliability values are higher than 0.7, and the average variance extracted (AVE) is higher than 0.5, which supports the TAM constructs' convergence validity. The square root of AVE for each construct is higher than the corresponding correlations between constructs, which suggests the discriminant validity of the constructs. We used the Partial least squares structural equation modelling (PLS-SEM) to assess the data from the 173 respondents who reported using the Sabah Pay mobile application. We found that PU did not significantly affect customer satisfaction (CS), with a p-value of 0.207, although the path coefficient is 0.109, thus disproving the null hypothesis (H1). However, we supported the second hypothesis (H2) by observing that PEOU substantially impacted CS, with a p-value of 0.000 and a path coefficient of 0.614. The correlation indices demonstrated a satisfactory relationship between the data and the model. This research adds to the body of knowledge on mobile payment platforms by shedding light on perceived usefulness and ease of use factors that most affect users' happiness with Sabah Pay. The study suggests and identifies extensive research into potential customer satisfaction aspects like safety, trust, and value. This study's findings have real-world applications for practitioners and regulators looking to improve the mobile payment platform user experience and, by extension, boost customer happiness and adoption rates.

Paths to digital mobile payment platforms acceptance and usage: A topology for digital enthusiast consumers

The rapid development of digital mobile payment platforms (DMPPs) has significantlytransformed the financial services landscape, offering consumers unparalleled convenience and efficiency in payment options. This study delves into the acceptance and usability factors among digital enthusiast consumers, employing fuzzy set Qualitative Comparative Analysis (fsQCA) to uncover key determinants. Analyzing data from 325 digital enthusiasts, the research identified four distinct configural paths that significantly influence DMPP usage, revealing two primary user typologies: “systems readiness and ease of use” and “affection and secured platforms.” Performance expectancy emerged as a core condition, highlighting its critical role in driving DMPP adoption among digital enthusiasts. The study also underscored the importance of grievance redress and perceived trust as essential conditions influencing user adoption and continuous usage, emphasizing their pivotal role in enhancing user experience and fostering trust. These insights suggest that addressing users' concerns and building trust are fundamental for the sustained success of DMPPs. By tailoring DMPP features to align with the distinct preferences of the identified user typologies, service providers can significantly boost adoption rates. The fsQCA approach offers novel insights into the nuances of emerging technology acceptance and usage, underscoring the necessity of categorizing users to better understand DMPP adoption dynamics. This research provides valuable contributions to both businesses and policymakers,offering strategies to optimize DMPP design, ensure superior user experiences, and promote broader adoption. The findings highlight the dynamic interplay of user expectations and technological capabilities, essential for navigating the evolving digital financial landscape.

Competitive dynamics in a multi-sided mobile payment platform market: an agent-based modeling perspective

PurposeThe purpose of this research is to develop a comprehensive model to better understand competitive dynamics between mobile payment providers in a multi-sided market featuring customers and merchants. This is undertaken by modeling customers performing financial transactions with merchants while two mobile payment systems (MPS) providers deploy different strategies to compete for market share.Design/methodology/approachThe authors developed an agent-based simulation model using the NetLogo environment. The simulation featured two competing platform providers, 1,000 customer agents and 50 merchant agents. Past research, interviews and surveys were conducted to accurately model the behavior of the agents. Each simulation run lasted for 50 time periods. A total of 1,024 experimental conditions were designed to model different competitive environments, and 50 replications were conducted for a total of 51,200 experiments.FindingsThe simulation model provides insight into MPS platform providers’ competitive strategies by simultaneously modelling socioeconomic interactions between customers, merchants and MPS.Research limitations/implicationsFrom a methodological perspective, the paper contributes a comprehensive model that can be used to study competitive dynamics between competing platforms in a multi-sided market. From the perspective of competitive strategies, the results show that pricing alone is not sufficient to influence MPS diffusion. Interactions between pricing, customers’ risk perception, perceived security and ease of use of the platform create unexpected same-side and cross-side network effects, which affect MPS diffusion.Practical implicationsWhile pricing remains a crucial lever for MPS to compete for market share, they should focus on enhancing customers’ and merchants’ trust and reduce their risk perception. This can be done through the improvement of the user experience of their platform, development of educational materials and marketing campaigns that address concerns around security, data breaches and perceived risk.Originality/valueThe paper is a direct response to a recent call for action on studying competition between MPS platforms by simultaneously modelling the socio-economic behavior of heterogeneous consumers and merchants. The proposed agent-based simulation model can be used to provide insights into competitive strategies and as a building block for subsequent research in this area.

Role of Paytm in The Era of Digital Revolution

Paytm or Pay through mobile is India's one of the leading mobile payment platforms that specialises in digital payments and financial services. Just like any startup company, Paytm has faced many ups and downs. From its foundation year(2010) till pre- demonetisation era, the company was in its introduction stage but during the demonetisation period, the company glistened like a star with its outstanding popularity among the people with liquid money crisis who embraced the convenience and that steady growth kept marching forward until the IPO launch in November 18, 2021, where One97 Communications, the parent company of Paytm, went public with largest IPO ever offered in India with a striking gross merchandise value(GMV) of ₹13.2 lakh crore or$170 billion with its share price of ₹2150 but it fell significantly short of expectations. From then on investors saw a blackhole instead of a star because despite a high valuation, the stock plummeted by 27% on its first day of trading and it stayed way below the belt later with almost half the price of the IPO.

CONSUMER ADOPTION OF MOBILE PAYMENT IN THE KINGDOM OF SAUDI ARABIA AN EMPIRICAL STUDY

Objective: The rapid stride in mobile payment adoption has transformed the payment practices in the 21st Century. Admittedly, m-payment practice has become more intense due to the surge in usage of internet, mobile devices (smart phones), accelerated further by the spread of the Covid-19 Pandemic. Against such a backdrop, it is the need of the hour to investigate: Why are people starting to use mobile payments more and how will that affect their purchasing habits? The study's intention is to add to what's already been written on electronic banking and mobile banking specifically. The study provides a report on m-banking's development, assesses the potential for its adoption, and identifies potential avenues for expansion in Saudi Arabia. They aid Saudi Arabian banking decision-makers in locating and developing strategies for supplying m-banking services that will help them keep their competitive edge. Methods: While electronically distributed surveys can reach more people more quickly and for less money, this method also has the potential to introduce bias into the sample by excluding people who don't have access to the internet. In addition, the data acquired from the respondents in many mobile payment and mobile banking studies can enhance selection bias. Researchers used both paper-print and online survey methods to disseminate survey instruments, reducing selection bias and increasing response rates. Other potential sources of common method bias (CMB) include the retrospective nature of the survey, the use of a commonly used scale format for constructs, and the fact that respondents were asked to provide information about both the independent and dependent variables in the same question. As a result, SEM has emerged as the gold standard in the field of theory testing, especially as it pertains to studies of IS/IT adoption. Statistical modelling with structural equation modelling (SEM) was chosen as the advanced inferential analytic technique for this study. Aim: The present study also aims to identify the perceived risk, trust, self-efficacy, past experience, attitude, anxiety, and customer support associated with the mobile payment. Lastly, this study will be a path-breaking one because of its intended contribution to the policy-makers and to the society at large in the Kingdom of Saudi Arabia. Needless to say, outcome of the study was providing managerial inputs to various mobile payment platforms. Results: Consumers' intent to utilize mobile banking was strongly correlated with their level of trust and Application of Mobile Banking. In similar way Self-efficacy directly and positively related to the consumer intention towards mobile banking adoption. In the same ways, past experience directly and positively related to the consumer intention towards mobile banking adoption. In the same way, there is a positive and direct relationship between customer intention and the use of mobile banking. Lack of a causal relationship between attitude and consumer desire to use mobile banking. Perceived risk not directly and positively related to the consumer intention towards mobile banking adoption Anxiety not directly and positively related to the consumer intention towards mobile banking adoption. Conclusion: This study intends to identify the various drivers of mobile payment adoption by examining how consumers' spending habits have changed in response to the popularity of mobile payment systems and the relationship between various payment mechanisms. The study's primary aim is to establish precisely the point when mobile payments will become the norm can replace debit and credit card transactions. Besides transaction activities, online payment channels are enhancing mobile payment adoption and lead to increase in the online transactions, local penetration further escalating increased transaction activities.

EVOLUTION OF DIGITAL PAYMENTS: A COMPARATIVE STUDY OF PRE- AND POST-COVID TRENDS IN HYBRID ENVIRONMENTS

In this era of rapid technological advancement, the use of digital payments is booming. It is one of the key measures being promoted by the government under the 'Digital India' campaign to move toward a cashless economy. Digital payments are made through online platforms using electronic media, eliminating the need for physical cash, and enabling people to handle transactions quickly and easily. The government's goal is to create a digitally empowered economy that is faceless, paperless, and cashless. With the rapid growth of internet access and smartphone usage, more people now have the tools to make digital payments. Mobile wallets, apps, and payment platforms have become widely accessible, and digital payments can be made both online and in physical locations. For example, if you buy something from Myntra and pay via UPI, that qualifies as a digital payment. Similarly, if you visit a restaurant and, instead of paying with cash or a card, scan a QR code at the cashier using an app like Google Pay or PhonePe, and complete the transaction through UPI, it is also considered a digital payment since the money is transferred electronically without physical cash. This study investigates whether the importance of digital payments has grown significantly between the pre-COVID and post-COVID periods. A two-sample means test was conducted using survey responses from finance managers at 100 companies in Pune. The findings indicate a notable increase in the importance of digital payments during the COVID-19 period.

Development of [formula omitted] quasirung orthopair fuzzy hamacher aggregation operators and its application in decision-making problems

The concept of p,q− quasirung orthopair fuzzy (p,q− QOF) sets is an advanced extension of q− rung orthopair fuzzy sets (q− ROFSs). This paper introduces the adaptation of Hamacher t-norm and t-conorm to the p,q− QOF environment. A series of Hamacher aggregation operators (AOs) and their associated properties are presented. This study extends its application to multi-criteria group decision-making (MCGDM) for practical problem-solving, illustrated through the analysis of mobile payment platforms. The influence of the aggregation operator parameters, denoted as p and q, on the outcomes of decisions is effectively showcased. Moreover, a comparative analysis is carried out to validate the credibility and authenticity of the proposed model. Finally, the advantages and limitations of the proposed model are outlined.

전자결제 서비스의 특성이 중국 사용자 행동에 미치는 영향에 관한 연구

In recent years, mobile payment has become widespread and has become a major payment method for many consumers in China. Products purchased mainly through mobile terminals are settled and settled through mobile payment platforms. The number of mobile payment users in China continues to expand. The volume of mobile payment transactions in China continue to increase in recent years. The scale of mobile payments in China is 432.2 trillion yuan in 2020. Technological innovation has revolutionized business models, and mobile commerce is increasingly accepted and recognized by the public. Mobile payment is an important process and key link in mobile commerce. Mobile payments have great potential and a wide market. As the number of users and frequency of use increases, the volume of mobile payment transactions will continue to grow in the future. In this context, the purpose of this study is to examine the effect of China's electronic payment service characteristics on user behavior. The purpose of this study is to explore the relationship between the electronic payment service and user behavior through an empirical analysis of the electronic payment service characteristics based on the theoretical background of the electronic payment service characteristics. This is to ensure that the electronic payment service continuously adapts to the needs of society along with economic development and finds defects in the electronic payment service in a timely manner. In this paper, the factors of electronic payment service characteristics were selected by analyzing the existing research results. In this study, SPSS 23.0 was used for basic statistics. SmartPLS 4.0 statistical package was used. for hypothesis testing. A survey was conducted with 270 people using an online survey in China. There are convenience, security, reliability, and responsiveness, which are characteristics of electronic payment service. They had a significant effect on user attitude. User attitude and user behavior had a significant effect.

Design and Development of Mobile Payment Platform Software Supported by Analytical Capabilities for Payment Systems

The Paycell Mobile Payment application serves as a platform where users can benefit from various payment and shopping services. Each user explores services within the application based on their own interests and needs, and this process generates a significant amount of data. The data created has become an important resource for improving user experience and enhancing the services offered. The primary goal of our project is to enrich the user experience and offer personalized recommendations based on real transactions to meet financial needs more effectively. This approach represents a significant step in the mobile payment systems industry in terms of data analytics and personalization. Simultaneously, this approach aims to position the Paycell application as a 'super app' where users can personalize their financial transactions. Our project captures user-initiated transactions with the aim of providing personalized recommendations tailored to users' interests and needs. These data are analyzed using data processing methods to obtain meaningful results. The results are then used to offer personalized recommendations to users. This approach contributes to users having more tailored experiences and meeting their financial needs more effectively.

Digital Payments Adoption in Emerging Markets: The Context of China’s Digital Currency Electronic Payment

There are still significant gaps in our knowledge of the factors that influence the acceptance and use of digital wallets as well as their transformative effects on payment behaviours in China, even though digital wallets are anticipated to grow in line with the global trend towards cashless payment solutions and despite the quick development of mobile payment platforms. With the aim of providing relevant advice to stakeholders and contributing to the continuing conversation on technology adoption, payment behaviour, and socioeconomic dynamics in China, this research investigates trends in the acceptance and use of digital wallets in the Chinese area.
 Additionally, it intends to provide insightful information on the function of digital wallets inside the mobile payment system and their influence on China's socioeconomic environment. The research model was experimentally briefed using a questionnaire survey of 405 digital wallet-based users in China. Hedonic motivation and perceived risk, both of which were found to have an influence on the usage of digital wallets, were included to the study in this work. The Unified Theory of Acceptance and Use of Technology (UTAUT) paradigm served as a guide for the study, which was based on existing academic research. The main contributions of this research are to highlight the critical roles that perceived delight and perceived risk play in the adoption of digital wallet technology and to investigate how Chinese individuals perceive the use of digital wallets. The study surfaced the following influences performance expectation (H1), effort expectation (H2), social influence (H3), social impact (H4), facilitation conditions (H5), behavioural intention (H6), and perceived risk (H7).social influence (H3), social impact (H4), facilitation conditions (H5), behavioural intention (H6), hedonic motivation (H7), and perceived risk (H8 ). All have an impact on the use of digital wallets.

Research on the Development and Innovative Strategy of Knowledge Payment Platform in the Internet Era

The widespread adoption of knowledge-based payment systems and numerous online knowledge-based paid items is made possible by the quick development of knowledge information and networking technology. Paid columns were quickly introduced by platforms like Himalaya FM, Zhihu, and Qingting FM, while pay-for- knowledge businesses like Fenda, iGet, and Qianliao quickly went live online. Users rapidly increased, and it was assumed that the knowledge payment progressive trend had been met. This paper aims to examine the emergence of edge computing into the mobile information system into the presence and inevitability of the knowledge payment platform, evaluate the advantages, challenges, and pathways for knowledge payment platform optimization, and try to provide a conceptual suggestion for aiding in its advancement. During data analysis, the independence of the polynomial characteristics was evaluated using Pearson's chi- squared tests. A brand-new meta-heuristic optimizer dubbed Harris Hawks optimization is inspired by how Harris hawks seek food in the wild. According to the experimental results, 98 of the survey's respondents—or 19.1% of all respondents—were under the age of 18; 201 were between the ages of 18 and 29; 142 were between the ages of 30 and 39; and 73 were over 40, or 14.2% of all respondents. The findings indicate a younger age distribution for the sample, with the concentration being highest among those between the ages of 18 and 29, then 30 to 39. The mobile information system edge-based knowledge payment platform has successfully undergone continuous use behavior analysis.

Merchant adoption intention of mobile payment platforms in Malaysia

PurposeIn recent years, Malaysia has seen a dramatic change in the landscape of financial transactions due to the fast growth of mobile payment systems. This study aims to examine the technological, organisational and environmental (TOE) factors of merchants’ adoption intention to use mobile payment platforms essential for the continuing development and profitability of these cutting-edge payment options.Design/methodology/approachThe research model was developed from the TOE framework and tested with the data collected from 120 merchants in Malaysia. The partial least squares structural equation modelling technique was used in analysing the collected data.FindingsTechnology readiness and competitor pressure were directly related to merchants' mobile payment adoption intention and indirectly through perceived strategic value. Also, perceived ease of use and perceived strategic value were significant predictors of the adoption intention of mobile payment.Originality/valueThis model demonstrates the relevance of TOE in explaining merchants' mobile payment adoption intention, with implications for policy and strategy to support the broader adoption of mobile payment platforms in Malaysia.

Switching behaviors in peer-to-peer mobile payment applications: the role of sociability

PurposeUsing features of social media, peer-to-peer (P2P) mobile payment enables users to foster social interaction every time transactions are made. Given the increasing popularity of social features in P2P mobile payment applications, it is worth understanding how these components contribute to users’ switching behavior between conventional mobile payment and P2P mobile payment services. By treating sociability of P2P mobile payment as a pull factor, this study aims to extend the push–pull–mooring framework in the context of P2P mobile payment.Design/methodology/approachA questionnaire survey was conducted to obtain data. Respondents from the USA were exclusively selected due to the emerging number of P2P mobile payment users and the volume of transactions in this country. Based on a sample of 232 Amazon Mechanical Turk mobile payment users, the authors tested the hypotheses using the partial least squares structural equation model technique with SmartPLS software version 3.FindingsThe finding reveals that sociability is triggered by social presence, social benefit and social support within the P2P mobile payment platform. Moreover, dissatisfaction with perceived enjoyment of conventional mobile payment (push factor), customer innovativeness (mooring factor) and sociability of P2P mobile payment (pull factor) jointly influence users’ intention to switch to P2P mobile payment services, and subsequently drive their migration behavior.Originality/valueUnlike past research that mainly focuses on utilitarian-related factors, to the best of the authors’ knowledge, this study is among the first to thoroughly examine the sociability features of P2P mobile payment service as a form of a social-centric system.

Application of Big Data Technology in Mobile Payment Security

The rapid growth in mobile technologies, particularly mobile payment platforms, has led to increased risks of fraudulent activities. This paper investigates how big data analytics can enhance fraud detection mechanisms in mobile payment systems. The research question explored is: “How do big data analytics enhance fraud detection mechanisms in mobile payment platforms?” The study adopts a quantitative approach to understand the correlation and impact of big data analytics on fraud detection mechanisms, analyzing detailed records of financial transactions and publicly available databases. The paper addresses current gaps in research regarding the utilization of big data analytics in mobile payment environments, highlighting the strategic importance of big data in fraud prevention and fortifying the defenses of mobile payment platforms against modern cyber threats.

FACTORS INFLUENCING THE INTENTION OF BEHAVIOR IN USING GOPAY MOBILE PAYMENT

At present, the development of technology and the internet is advancing rapidly and continues to grow from year to year. The number of smartphone and internet users is also increasing, leading to more frequent use of mobile payment applications. The use of mobile payment applications has several advantages, such as accelerating transactions and facilitating cashless payments. One of the applications used for mobile payment is GoPay, alongside other options such as OVO, Shopee, Dana, and other mobile payment platforms. The researcher aims to analyze the perception of the community towards GoPay as an electronic payment method using the Unified Theory of Acceptance and Use of Technology (UTAUT) approach, which explains user behavior toward information technology based on social influence, performance expectancy, effort expectancy, and facilitating conditions. Each determinant is then tested against behavioral intention. This study has four hypotheses that will be tested, and the data collected for this research is obtained through respondent answers from questionnaires. The data is analyzed using Partial Least Square (PLS) analysis with Smart-PLS software, and the research results indicate that all variables have a positive and significant influence on behavioral intention.

Predictors of Continuous Intention to Use Mobile Payment Platforms in a Typical Developing Economy Context: A Literature Review

This paper aims to review literature on the predictors of continuous intention to use mobile payment platforms in a typical developing economy context. Extant literatures reveal that the unified theory of use and technology is the most widely used theory to explain continuous intention behavior in financial technology marketing literature but few studies have extended the theory to accommodate other variables and investigate the nexus among these variables especially on continuous intention to use mobile platforms from a developing economy like Nigeria. Also, the existing frameworks and models developed in advanced economies may not be suitable for developing mobile payment platforms usage behavior in Nigeria because of its peculiarities. The major importance of this study is to review extant literature on continuous usage of mobile payment technology and make available a comprehensive and robust framework for prospective researchers in this area, which will guide and direct their studies. The framework is premised on five key constructs- performance expectancy, effort expectancy, social influence, facilitating condition, intrinsic motivation, price value and prior experience. More so, the proposed conceptual framework is capable of providing insight for developing financial technology-related policies.

Technology options and optimal pricing of a two-sided mobile payment platform

This study investigates the pricing strategies of a mobile payment platform connecting merchants and customers who may bypass the platform and trade in cash. Our analytical model incorporates cross-side network externalities at both sides of the platform. We find that the optimal pricing strategy involves cross-subsidization, including subsidizing customers to register for the service while charging the merchants per transaction. Moreover, the technology option adopted by the platform influences this optimal pricing format. In particular, the platform should subsidize customers more if the payment technology imposes larger transaction costs on customers and charge merchants more if banks demand a higher payment processing fee. Our major findings remain qualitatively valid when per-transaction subsidy is available and the marginal benefit of cross-side network externalities diminishes. Finally, the presence of a platform improves social welfare if the per-transaction subsidy sufficiently stimulates consumption on the platform.

“Quick Response” Economic Stimulus: The Effect of Small-Value Digital Coupons on Spending

We study a new consumption stimulus program implemented by a large Chinese city that leverages mobile payment platforms to dispense massive amounts of small-value digital coupons. Exploiting a “rush” design of the dispensing process in which over 1 million program participants compete for coupons on a first-come, first-served basis through a digital portal, we estimate that winning coupons increases weekly out-of-pocket spending by US$3 for every US$1 in government subsidy. Coupon-winning consumers practice inter-temporal substitution by moving up purchases that would have been made four months in the future. Customer flow analysis suggests that coupons distort consumption toward pricier options. (JEL D15, E21, E42, H71, O18, P25, P36)

Research on Price War of Payment Platform based on Repeated Game-Taking Alipay and Wechat as Examples

Price war is an inevitable product of the market economy and is an important mean of stimulating market development. The development of the Internet financial market has brought about a new era of universal mobile payments. The price war between the two mobile payment giants - Alipay and WeChat - in this new era is of particular concern. As the battle between the two platforms gradually enters a white-hot stage, how they act to maximize their own interests has become a major focus of the Internet financial market. This paper explores the price war between these two payment platforms from the perspective of repeated games and makes preliminary assumptions based on the Bertrand model. Based on the findings and the context of the times, this paper suggests strategies for the development of both Alipay and WeChat which are aiming to promote the mobile payment platforms towards healthy competition in order to achieve a mutually beneficial and win-win market.

Research on User Perception Evaluation with Mobile Payment Platforms Based on Big Data

Research on User Perception Evaluation with Mobile Payment Platforms Based on Big Data