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The purpose of this paper is to examine how the monetary value of a retail transaction (transaction size) impacts consumers' preferences for cash, debit and credit card payment modes.

Drawing on the analytical and empirical literature on retail payment mode choice and the related literature on differences in payment mode attributes, the author develops and tests a hypothesis that at retail point of purchase, cash, debit and credit card will be preferred payment modes for low‐, medium‐ and high‐value transactions, respectively. The hypothesis is tested in an experimental survey in which a sample of 477 respondents indicate which payment mode they would most likely use for each of ten products that vary systematically in list prices.

The results offer broad support for the hypothesis. They also show that preferences for debit and credit card payment modes are similar at low transaction values (both are less preferred), whilst those for debit and cash payment are similar at large transaction values (again, both are less preferred). This suggests that electronic payment modes are collectively a substitute for cash for low transaction values, whilst credit cards are a substitute for cash and debit cards for high transaction values.

A key implication of the results is that it may be possible to persuade consumers in the study context to use electronic payments for small‐value transactions by invoking and making salient, convenience considerations that are purported to drive preferences for cash payment for such purchases.

The results also offer an alternative explanation for the continuing dominance of cash transactions in modern economies, and outlines implications for promoting consumer use of electronic payment modes at retail point of purchase.

The existing research does not systematically explore customers' option about different payment methods, nor does it analyze how shopping channels and shopping scale affect customers' option about different payment methods. Furthermore, there is a lack of exploration on what the relationship is, and how they are adjusted by customer purchasing experience. The authors’ research questions are: (1) when using different shopping channels in online retailing, whether customers will choose different types of payment methods? (2) Does the purchase amounts affect customers' choice of different payment methods?

This study takes 60,484 customers from JD.com, one of the largest B2C platforms in China, as the research object and collects the purchase data of these customers from October 01, 2012 to December 31, 2013, and analyzes them through panel data models.

Based on their purchase data, the authors find the main results by using panel data model that (1) the use of mobile channel has a positive effect on cash on delivery (COD), implying that when consumers use mobile to purchase, they have a higher possibility to use COD, (2) the order size has a positive effects on COD, that is to say, when the purchase amount increases, the possibility of using COD also increases. (3) Furthermore, when consumers' purchase experience abound, mobile channel's positive effect on COD will be decreased, but it does not affect the positive effect between order size and COD.

From the aspects of shopping channels, product attributes and customer purchase experience, it fills the gaps in the research on the preselection of payment methods and makes research of payment methods a complete research system. Secondly, this study adds COD to the options of payment method selection. Finally, the moderating effect of customer shopping experience from a dynamic perspective elaborates that customers can learn from multiple purchases and overcome the shopping risks brought by shopping channels, thereby reducing the probability of choosing a COD method.

The paper aims to explore reasons for choosing different payment instruments and pain points from using them in a Russian context. It proposes that given the expansion of the range of personal payment instruments, the choice for payment is now influenced by many factors, including the type of financial provider and potential benefits for consumers.

This paper is an exploratory study that uses data from the qualitative research conducted in three Russian cities (Moscow, Yekaterinburg and Saratov) based on 50 online payment diaries and 12 group discussions. It was complemented by the analysis of consumers’ posts on six relevant media platforms.

The results show that a bank card is a new must and people choose it for convenience, safety and access to online purchases inside and outside Russia. Cash is used out of habit or wherever cashless payments are either not free or unavailable. Reasons for smartphone pass-through wallet usage include speed, attribute of style and higher cashbacks.

The limitations of the study are similar to any qualitative research and include, in particular, lack of generalization. Proposed hypotheses might be further tested quantitatively on a representative sample.

The results might help providers of financial services in creating better quality products that address consumer pain points and in developing strategies that allow for the changing preferences of consumers.

To the authors’ knowledge, this is the first such study to consider reasons for choosing and pain points from using certain payment instruments in the emerging markets, in particular, Russia.

Recent innovations in payment instruments have fundamentally changed the ways we pay. These innovations, such as mobile/SMS payments and online banking, contain features that are likely to influence how people choose to pay. The purpose of this paper is to understand the factors that impact payers’ choice of payment instruments.

Through in-depth interviews using the repertory grid technique, the authors explored 15 payers’ perceptions of six payment instruments, including coins, banknotes, debit cards, credit cards, mobile payments, and online banking. The approach draws heavily on organizational systematics to better understand payers’ choice of payment instruments.

A four-category taxonomy of payments was developed. The authors refer to the taxonomy as the 4Ps: the purchase, the payer, the payment instrument, and the physical technology. The taxonomy comprises 16 payment characteristics consisting 76 payment features that influence payers’ instrument choice. One characteristic not known in prior research was identified – that is, “cancellation” – a characteristic more frequently associated with digital payment instruments than with cash or checks.

The findings suggest that payers view payment instruments in a much broader sense, including context, control, or cultural beliefs. Consequently, the authors suggest that researchers try to understand the essence of an innovation before assuming any economic rationalism in human or organizational behavior. The authors also urge researchers to understand the underlying meaning behind constructs of interest; as this study has shown that concepts like context and convenience have many different interpretations.

According to McKinsey (2014) there are over 12,000 startups in the payment arena. For them, the taxonomy can function as a template for the design of payment instruments, as well as understanding the various factors that influence payer choice of payment instruments.

The main contribution of this paper is the 4Ps taxonomy of payments. The taxonomy builds on and extends the work by Hirschman (1982). Since this work, and despite recent trends in payments, there has not been a comprehensive investigation that takes into account more recent innovations in payment instruments.

E‐Government programs often address problems such as institutional ineffectiveness, lack of transparency, or social exclusion. Financial exclusion and people's reliance on ineffective payment methods appear to be a well‐known problem world‐wide. Yet, despite the large number of related case studies and academic reports on the topic, little is understood about the impact governmental payment practices have on the financial behaviour of citizens. Few investigations address how governmental use of payment methods and related policies may impact citizen/consumer behaviour. Through investigating the move to E‐Payment based methods to replace the dominant use of cash and cheques in social welfare in Ireland, the purpose of this paper is to explore the recipient's view of this government project.

The research is organized as an intrinsic case study where the unit of analysis is one large project. It aims at a rich description of one particular case by analysing data collected from two main sources of evidence: preliminary investigation is done by reviewing relevant documents, while primary data collection involved face‐to‐face surveys of social welfare recipients (using a short, structured questionnaire augmented with a few open‐ended questions).

The planning and execution of E‐Government programs often face barriers of mostly social and historical nature. As the results of this research indicate, these barriers might be hard to overcome as they are the result of certain behaviours and attitudes rooted in people's daily experience, such as their daily financial reality. Results also imply that the choice of an adequate E‐Payment method and migration scenario by governmental agencies will be crucial to the outcome. Implementation and education will also be critical.

This study reports on the influence governmental decisions related to social welfare payment methods may have on recipients' financial habits regarding the choice of payment options. It also shows how recipients' everyday experience and financial reality determine the way they relate to payment options.

The rise of digital transaction technology has been transformative for businesses however consumer attitudes to this technology can vary. The comparison of Australians, Chinese and Sri Lankans’ consumers salient attitudes toward payment methods at the Point-of-Sale (POS) provides businesses with insights into the factors impacting consumers' payment preference.

A qualitative methodology was employed for data collection from Australian, Chinese and Sri Lankan participants. A combination of focus groups and individual interviews were carried out with a total of 35 participants.

Results indicate that factors of perceived relative advantage, perceived compatibility, perceived risk, perceived rewards, perceived situations and social influence impact consumers' payment preference at POS across all three countries, however the degree of impact varies in importance across the three countries.

In the cross-cultural comparison of the consumers' payment preference, this research highlights the complex interplay of factors that shapes these payment preferences. The findings, given the growing digitization of transactions, provides banking and financial institutions with a foundational model that can be used to improve their services and business model.

Previous studies failed to distinguish between payment choice at the time of the transaction and payment preference which is repeated behaviour. This study is the first to compare the consumers' payment preference across Australian, Chinese and Sri Lankan consumers and responds to calls for additional research that generalises consumers' payment preferences across cultures.

The purpose of this paper is to shed light upon how retailers view alternative payment forms and to what extent they are willing to risk offending their customers by imposing payment restrictions.

This exploratory study consists of three consecutive parts: first, 100 situations of paying for goods or services; second, interviews with 25 of these 100 retailers; and third, observations at a meeting between retailers and bank representatives on various aspects of card and cash payments.

Retailers are unwilling to risk offending their customers and do not normally undertake any actions to affect the customers’ choice of payment form, except for proactively or reactively excluding the use of certain expensive credit cards, and card payments for small amounts. The retailers only take the risk of causing customer dissatisfaction when they feel that the sacrifice for not doing so is too costly, and in these cases the salespersons act very late in the purchase process. Other aspects than payment costs (such as safety, time and environment) seem to have little impact on individual retailers’ actions at the payment stage.

The present study focuses solely on the retailers’ point of view on the payment stage, implying a need for additional research on customers’ and bank representatives’ views on the same matter.

Retailers try to nurture their customer relationships also when they are proactive or reactive, i.e. by pointing to the high cost of a particular payment form and/or asking customers to help with small change. Sending signals that invite customers to assist may not only be a way to affect how customers pay, but also foster relationship development.

It seems that environmental costs have not filtered down to the firm level, at least not in an observable way. Any further move towards a “cashless society” has to emanate from other sources.

No previous study has focused on the way selling companies approach their customers at the payment stage in terms of proactive, reactive and inactive behaviour.

The authors investigate the effects of Chinese acquirer’s chief executive officer (CEO) risk preference on mergers and acquisitions (M&A) payment method and the moderating roles played by acquirer’s ownership, industry relatedness and whether the M&A is cross-border.

Using 4,624 worldwide M&A deals conducted by Chinese firms from 2009 to 2021, the authors conduct multiple linear regression and ordered probit regression. And comprehensive indexes constructed based on the observed features of acquirer’s CEOs are used to be the proxy for CEO risk preference.

The results show that the higher-level Chinese acquirer’s CEO risk preference is overall positively associated with using more stock in payment. Moreover, the above relationship is strengthened if the ownership of the acquirer is state-owned.

The authors highlight the importance of the non-economic factors and demonstrate a relationship between the Chinese acquirer’s CEO risk preference and the M&A payment method, providing support for and enriching the upper echelons theory (UET). Moreover, the unique risk priorities of Chinese acquirers’ CEOs are revealed.

This exploratory study seeks to explore the link between the choices of payment mode to customer satisfaction. It examines the Austrian market in relation to its choice and usage of debit cards versus credit cards and its impact on customer satisfaction and loyalty. Furthermore, the study aims to identify the key drivers of customer satisfaction for these two modes of electronic payment.

A structured questionnaire was administered in person to 360 Austrian bank customers. These customers were selected using quota sampling based on Austrian census data for a particular Austrian province. However, while the quota sampling was used to determine the categories, selection of the actual respondents was done through systematic sampling. This ensured that the sample was representative of the population of that Austrian province who had credit and debit cards. One group, women who were 65 and older, were not considered as there were relatively few women in this age range who had debit and credit cards.

Five hypotheses were proposed. Four of the five hypotheses were supported while one, H4, had partial support. Essentially, the results indicate that a person's preference for a particular payment method is dependent on his/her personal characteristics. Additionally, the payment method's features and characteristics influenced its desirability and acceptance. Furthermore, a person's expectations had an impact on his/her attitude toward the payment method. The study also found that positive expectations, performance, and desires led to customer satisfaction. Customer satisfaction, in turn, leads to a higher degree of intent to use the payment method and higher degree of intent to recommend the payment method. These results are consistent with the literature on customer satisfaction that identifies expectations, performance and desires as the drivers of customer satisfaction.

Multiple payment modes have emerged but there has been scant attention paid to the effects of payment modes on customer behavior and by extension, customer satisfaction and loyalty. This paper addresses these issues.

For central banks who study the use of cash, acceptance of card payments is an important factor. Surveys to measure levels of card acceptance and the costs of payments can be complicated and expensive. In this paper, we exploit a novel data set from Hungary to see the effect of stratified random sampling on estimates of payment card acceptance and usage. Using the Online Cashier Registry, a database linking the universe of merchant cash registers in Hungary, we create merchant and transaction level data sets. We compare county (geographic), industry and store size stratifications to simulate the usual stratification criteria for merchant surveys and see the effect on estimates of card acceptance for different sample sizes. Further, we estimate logistic regression models of card acceptance/usage to see how stratification biases estimates of key determinants of card acceptance/usage.