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How to generate loyalty in mobile payment services? An integrative dual SEM-ANN analysis

Tri-Quan Dang (Ho Chi Minh City University of Foreign Languages - Information Technology (HUFLIT), Ho Chi Minh City, Vietnam) (UCSI Graduate Business School, UCSI University, Kuala Lumpur, Malaysia) (University of Finance and Marketing, Ho Chi Minh City, Vietnam)
Garry Wei-Han Tan (UCSI Graduate Business School, UCSI University, Kuala Lumpur, Malaysia) (School of Business, Faculty of Business, Design, and Arts, Swinburne University of Technology Sarawak Campus, Kuching, Malaysia) (School of Economics and Management, Yunnan Normal University, Kunming, China) (College of Business Administration, Adamson University, Manila, Philippines)
Eugene Cheng-Xi Aw (UCSI Graduate Business School, UCSI University, Kuala Lumpur, Malaysia) (Department of Business Administration, Iqra University, Karachi, Pakistan)
Keng-Boon Ooi (UCSI Graduate Business School, UCSI University, Kuala Lumpur, Malaysia) (FORE School of Management, New Delhi, India) (School of Business, Faculty of Business, Design, and Arts, Swinburne University of Technology Sarawak Campus, Kuching, Malaysia) (School of Finance and Economics, Nanchang Institute of Technology, Nan Chang, China)
Bhimaraya Metri (Indian Institute of Management Nagpur, Nagpur, India)
Yogesh K. Dwivedi (Business Department, Digital Futures for Sustainable Business and Society Research Group, School of Management, Swansea University, Swansea, UK) (Symbiosis Institute of Business Management Pune, Symbiosis International (Deemed University), Pune, India)

International Journal of Bank Marketing

ISSN: 0265-2323

Article publication date: 23 May 2023

Issue publication date: 24 August 2023

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Abstract

Purpose

The surging entrance of new mobile payment merchants into the growing market has prompted the need for an in-depth understanding of loyalty formation to retain customers. This study examines customers' loyalty generation process in mobile payment services by exploring the serial effect of cognitive drivers (i.e. brand awareness, perceived quality, brand image, perceived value and layout) on affective response, satisfaction and loyalty.

Design/methodology/approach

A survey using self-administered questionnaires was conducted. The data was collected from 370 consumers who have experience using mobile payment services in Vietnam. The data were submitted to partial least square structural equation modeling (PLS-SEM) and artificial neural networks (ANN) analysis.

Findings

The results indicated that all the proposed cognitive drivers show significant impacts on affective response, which, in turn, translates into satisfaction and loyalty. The post-hoc analysis revealed enjoyment as the vital affective response in determining satisfaction. Moreover, the multigroup analysis indicated that the relationship between affective response and satisfaction is stronger for the female group. In addition, the ANN's nonlinear result revealed complementary insight into the importance of cognitive drivers.

Originality

The current study revealed both linear and nonlinear mechanisms that explicate the roles of cognitive drivers and affective responses in fostering loyalty toward mobile payment merchants. The findings add to the existing literature that emphasizes consumers' initial mobile payment adoption.

Keywords

Citation

Dang, T.-Q., Tan, G.W.-H., Aw, E.C.-X., Ooi, K.-B., Metri, B. and Dwivedi, Y.K. (2023), "How to generate loyalty in mobile payment services? An integrative dual SEM-ANN analysis", International Journal of Bank Marketing, Vol. 41 No. 6, pp. 1177-1206. https://doi.org/10.1108/IJBM-05-2022-0202

Publisher

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Emerald Publishing Limited

Copyright © 2023, Emerald Publishing Limited

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