移动支付和消费者支付意愿外文翻译中英文文档格式.docx
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移动支付和消费者支付意愿外文翻译中英文文档格式.docx
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Theeffectofcreditcardversusmobilepaymentonconvenienceandconsumers’willingnesstopay
JoeBoden,ErikMaier,RobertWilken
Abstract
Extantliteratureonpaymentmethodshasfocusedoncomparingcashandcreditcardsandemphasizedthelowerpainofpaying(i.e.,fewernegativeconsequences)forthelatter.Thisfinding,inturn,explainswhyconsumersexpresshigherwillingnesstopay(WTP)whenpayingwithcreditcards.Thecurrentstudyintroducesmobiletechnologyasanewpaymentmethodtothisliterature.Specifically,ithighlightsconvenienceasapositivedriverofincreasedWTPformobilepayment.However,forconsumerstoperceivemobilepaymentasconvenient,apersonaladoption(enabledthroughanexistingsystemintherespectivecountrymarket)isnecessary.Asetofthreestudiesacrossseveralcountrymarketsteststheseassumptionsempirically.ConvenienceemergesasanewmediatorbetweenmobilepaymentandincreasedWTP,contingentonpersonaladoption.Thesefindingsthusextendextantliteratureonthemechanismsconsumersusewithdifferentpaymentmethods,andtheyofferdifferentiatedrecommendationsregardingpaymentchannelsforcountrymanagers.
Keywords:
Willingnesstopay,Convenience,Mobilepayment,Painofpaying,Adoption
1.
Introduction
Arecentlyintroducedpaymentalternativeismobilepayment.Optimisticcommentatorshavedescribeditasthe“deathofcash”(Pickford,2015);
eventheAnglicanchurchusesitforin-churchdonations(Bowsher,2017).Insomecountries,mobilepaymenthasbecomeanestablishedpaymentmechanismsimilartocreditordebitcards.Forinstance,thevolumeofmobilepaymenttransactionisexpectedtoexceedcreditcardtransactionvolumeby30%inChina(Wang,2018).
Extantliteratureonpaymentmethodshasfocusedoncomparingcashandcreditordebitcardsandshowsincreasedlevelsofconsumers'
willingnesstopay(WTP)whenusingcards(PrelecandSimester,2001;
Runnemarketal.,2015).Thiscreditcardpremium(Feinberg,1986)canbeexplainedbylowerpainofpaying(”…directandimmediatedispleasureorpainfromtheactofmakingapayment…”
Zellermayer,1996,p.2)through,forinstance,lesstransparencyordecouplingpaymentandtransaction(Gafeevaetal.,2018;
Soman,2003;
PrelecandLoewenstein,1998).
Falketal.(2016)
arethefirsttoalsoincludemobilepaymentintheinvestigatedmeansofpayment,althoughonlyassideaspectintheinvestigation,buttheydonotfindasignificantpremiumofmobilepayovercreditcards,onlyversuscash.Weproposepainofpayingalonemightbeinsufficienttoexplaindifferencesinconsumers’WTPfordifferentpaymentmeans.Forinstance,othermediatorsmightaffecttheresults.
Conveniencemightbeasecondmediatorthatinfluencesconsumers'
WTP.Extantresearchonmobilesolutionsingeneralestablishesconvenienceaskeyadvantagerelativetonon-mobilealternatives(seemobiletravelandbankingapplicationsresearch,e.g.,
Dahlbergetal.,2015;
Mallat,2007).Alsoresearchonpaymentmeanshassuggestedthatconveniencemightexplainwhyapaymentmethodincreasesconsumers'
WTP(Dahlbergetal.,2015;
Hirschman,1979).Indeed,previousresearchshowsthatgreaterconvenienceingeneralcanincreaseconsumers'
WTP(CarowandStaten,1999;
CarriganandAttalla,2001).Thus,ifmobilepaymentismoreconvenient,itshouldalsoincreaseconsumers'
WTP,andretailerscouldboostrevenuesbyincentivizingusageofconvenientpaymentmethods(e.g.,bygrantingbonuspointsinaloyaltyprogram).Painofpaying,incontrast,mightnotbearelevantdriverfortworeasons.First,mobilepaymentoftenchargesestablishedpaymentmeans(e.g.,creditcards,directdebit),whichimpliesthatthepainofpayingshouldbethesameasforthesepaymentmeans.Second,mobilephonesmightdetractcustomers’focusfrompainofpaying,asmobilephonesoffermanynon-paymentfunctionalities(e.g.,socialmedia,gaming,photography).
Convenienceofmobilephones,however,mightnotalwaysbeinoperation.Specifically,beforeatechnology(e.g.,mobilepayment)canbeconsideredconvenient,itmustbeadopted:
Themoreconsumersareusedtoatechnology,themoreconvenientitsusefeels(HuhandKim,2008;
Zhou,2011).Wordprocessingsoftwareisawell-knownexample:
onlyadoptionanduseofsuchsoftwaremakeitsusageconvenient(Davisetal.,1989);
similarly,adoptiontomobiletechnologyrequiresaninitialinvestment,afterwhichtheproductscanbeconvenientlyused(Kimetal.,2007).Inlinewiththediffusionandadoptionliterature(LaiandChuah,2010;
Yangetal.,2007),weconnectconvenienceperceptionsofaninnovationwithitsadoption.Wearguethatanadoptionofatechnologyreflectstheacceptanceandexperiencewithitandthusenhancestheconvenienceperceptions.
Weproposethatconvenienceperceptionsregarding
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