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Book part
Publication date: 10 December 2015

Chun Kit Lok

Smart card-based E-payment systems are receiving increasing attention as the number of implementations is witnessed on the rise globally. Understanding of user adoption behavior…

Abstract

Smart card-based E-payment systems are receiving increasing attention as the number of implementations is witnessed on the rise globally. Understanding of user adoption behavior of E-payment systems that employ smart card technology becomes a research area that is of particular value and interest to both IS researchers and professionals. However, research interest focuses mostly on why a smart card-based E-payment system results in a failure or how the system could have grown into a success. This signals the fact that researchers have not had much opportunity to critically review a smart card-based E-payment system that has gained wide support and overcome the hurdle of critical mass adoption. The Octopus in Hong Kong has provided a rare opportunity for investigating smart card-based E-payment system because of its unprecedented success. This research seeks to thoroughly analyze the Octopus from technology adoption behavior perspectives.

Cultural impacts on adoption behavior are one of the key areas that this research posits to investigate. Since the present research is conducted in Hong Kong where a majority of population is Chinese ethnicity and yet is westernized in a number of aspects, assuming that users in Hong Kong are characterized by eastern or western culture is less useful. Explicit cultural characteristics at individual level are tapped into here instead of applying generalization of cultural beliefs to users to more accurately reflect cultural bias. In this vein, the technology acceptance model (TAM) is adapted, extended, and tested for its applicability cross-culturally in Hong Kong on the Octopus. Four cultural dimensions developed by Hofstede are included in this study, namely uncertainty avoidance, masculinity, individualism, and Confucian Dynamism (long-term orientation), to explore their influence on usage behavior through the mediation of perceived usefulness.

TAM is also integrated with the innovation diffusion theory (IDT) to borrow two constructs in relation to innovative characteristics, namely relative advantage and compatibility, in order to enhance the explanatory power of the proposed research model. Besides, the normative accountability of the research model is strengthened by embracing two social influences, namely subjective norm and image. As the last antecedent to perceived usefulness, prior experience serves to bring in the time variation factor to allow level of prior experience to exert both direct and moderating effects on perceived usefulness.

The resulting research model is analyzed by partial least squares (PLS)-based Structural Equation Modeling (SEM) approach. The research findings reveal that all cultural dimensions demonstrate direct effect on perceived usefulness though the influence of uncertainty avoidance is found marginally significant. Other constructs on innovative characteristics and social influences are validated to be significant as hypothesized. Prior experience does indeed significantly moderate the two influences that perceived usefulness receives from relative advantage and compatibility, respectively. The research model has demonstrated convincing explanatory power and so may be employed for further studies in other contexts. In particular, cultural effects play a key role in contributing to the uniqueness of the model, enabling it to be an effective tool to help critically understand increasingly internationalized IS system development and implementation efforts. This research also suggests several practical implications in view of the findings that could better inform managerial decisions for designing, implementing, or promoting smart card-based E-payment system.

Details

E-services Adoption: Processes by Firms in Developing Nations
Type: Book
ISBN: 978-1-78560-709-7

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Article
Publication date: 1 September 2002

John K. Ashton and Gary Boyes

Retail payments systems are a key element in the financial infrastructure of any capitalist economy ‐ through them governments can enact economic policy and individuals and…

Abstract

Retail payments systems are a key element in the financial infrastructure of any capitalist economy ‐ through them governments can enact economic policy and individuals and companies can conduct their transactions. A recent development for UK retail payments systems has been the recommendations of the ‘Review of Banking Services in the UK’ (the Cruickshank Report). In this report, recommendations are made as to the operation of the primary UK retail payments system (APACS); a new regulatory framework and the removal of ‘barriers to entry’ are proposed to encourage greater competition in the industry. This paper considers these two proposals, which have both received government support for early implementation, in terms of wider policy issues surrounding payments systems, including economic efficiency and safety and security, and the economic incentives which underpin the present retail payments system in the UK. It is concluded that the proposals for regulation of business activities to promote competition may underestimate the importance of payment system safety and security regulation. Equally, the proposed removal or substantial reduction in barriers to entry to individual payments systems may have a range of unforeseen consequences.

Details

Journal of Financial Regulation and Compliance, vol. 10 no. 3
Type: Research Article
ISSN: 1358-1988

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Article
Publication date: 1 December 2002

Malcolm Wright

While retail payment instruments generate more revenue than many fast moving consumer goods (FMCG) categories, surprisingly little is publicly known about market structure and…

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Abstract

While retail payment instruments generate more revenue than many fast moving consumer goods (FMCG) categories, surprisingly little is publicly known about market structure and purchase loyalty. This paper reports a study of shoppers’ use of payment methods in three New Zealand retail categories (n = 310). The study identified shoppers’ “main” and “other” payment methods, and examined relative penetration, patterns of purchase loyalty, and repertoire size. The results showed that well‐known patterns of FMCG purchase loyalty also applied to retail payment methods. These patterns were stable across categories, implying retail payment methods are a mass market rather than a segmented market. The results also showed that, despite New Zealand being one of the most advanced cashless societies in the world, the market for electronic funds transfer at point of sale (EFTPoS) is far from saturated. This knowledge should prove useful for practitioners seeking to understand patterns of competition in retail payment methods, and for academics hoping to apply models of consumer behaviour to financial services.

Details

International Journal of Bank Marketing, vol. 20 no. 7
Type: Research Article
ISSN: 0265-2323

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Article
Publication date: 9 December 2022

Mónika-Anetta Alt and Irma Agárdi

The diffusion of near-field communication (NFC) m-payment depends largely on retailers who are more motivated to provide NFC m-payment for the retailers' customers if NFC m-payment

Abstract

Purpose

The diffusion of near-field communication (NFC) m-payment depends largely on retailers who are more motivated to provide NFC m-payment for the retailers' customers if NFC m-payment increases loyalty. Therefore, this paper investigates the relationship between customer acceptance of NFC m-payment and loyalty towards the retailer amongst Generation Z.

Design/methodology/approach

The NFC m-payment technology acceptance model was extended with loyalty intention towards the retailer. Therefore, an online survey was conducted amongst Generation Z that resulted in a sample of 310 respondents. The collected data were analysed by structural equation modelling (SEM).

Findings

Results proved that the customers' intention to use NFC m-payment contributes to a large extent to loyalty intention toward the retailer. Besides, usefulness, enjoyment, social influence and compatibility with lifestyle played a significant role in customer acceptance of NFC m-payment.

Research limitations/implications

This study's sample consists of Generation Z customers, and other generations should also be tested in future studies.

Practical implications

The intention to use NFC m-payment predict retail loyalty. Retailers should communicate m-payment availability as a new retail service to influence store patronage.

Originality/value

This study provides theoretical contributions to NFC m-payment acceptance and retail loyalty literature. First, this research extends the NFC m-payment technology acceptance model with a new behavioural outcome, loyalty intention towards retailers. Second, this research enriched retail loyalty literature by proving that NFC m-payment technology adoption drives customer loyalty towards retailers.

Details

International Journal of Retail & Distribution Management, vol. 51 no. 3
Type: Research Article
ISSN: 0959-0552

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Article
Publication date: 11 May 2010

Alhassan G. Abdul‐Muhmin

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

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Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Research limitations/implications

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.

Originality/value

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.

Details

International Journal of Retail & Distribution Management, vol. 38 no. 6
Type: Research Article
ISSN: 0959-0552

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Article
Publication date: 17 September 2019

Imaduddin Sahabat, Tumpak Silalahi, Ratih Indrastuti and Marizsa Herlina

The financial turbulence resulting from the global financial crisis sparked the interest in improving understanding of financial risks. The transmission of financial institution…

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Abstract

Purpose

The financial turbulence resulting from the global financial crisis sparked the interest in improving understanding of financial risks. The transmission of financial institution failures can be determined from the prevailing network structures between banks. The purpose of this study is to identify relationship between payment system network characteristics and financial system condition.

Design/methodology/approach

The characteristics of the interbank network structure in the payment system are identified using a graph theory and the relationship between the network characteristics of interbank transactions in the payment system and financial system stability is examined using a vector auto regression model.

Findings

This study shows that the connectedness of large-value payment transaction is more segmented compared to that of retail value payments. A significant relationship is observed between the characteristics of the network and the large-value payment transactions.

Research limitations/implications

This study found the connectedness of large-value transactions is more segmented when compared to retail-value transactions. It also shows a causal effect of the network characteristic on the financial system stability.

Originality/value

Unlike existing studies, this study considers both the connectedness in large-value transactions and retail-value transactions.

Details

Studies in Economics and Finance, vol. 37 no. 1
Type: Research Article
ISSN: 1086-7376

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Article
Publication date: 30 December 2021

Van Thac Dang, Ninh Nguyen, Hoang Viet Nguyen, Hoang Nguyen, Le Van Huy, Viet Thao Tran and Tran Hung Nguyen

Facial recognition payment (FRP) has been recently introduced as a new cashless payment method in retail store context. Anchored on information systems and consumer theories, this…

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Abstract

Purpose

Facial recognition payment (FRP) has been recently introduced as a new cashless payment method in retail store context. Anchored on information systems and consumer theories, this research aims to investigate the key antecedents and outcomes of consumer attitudes toward this innovative payment method.

Design/methodology/approach

This research used a survey method to obtain data from 795 consumers at retail stores in China. The data were then analyzed by different statistical methods, including descriptive statistics, reliability analysis and structural equation modeling.

Findings

Results show that perceived usefulness, perceived ease of use and perceived innovativeness positively affect consumer attitudes toward FRP, while perceived risk negatively impacts such attitudes. In addition, consumer attitudes enhance store satisfaction, and hedonic shopping value plays a mediating role in this relationship.

Practical implications

This study encourages retailers to adopt FRP that can enhance consumer hedonic shopping value and satisfaction.

Originality/value

This study contributes to the literature by explaining both the antecedents and the outcomes of consumer attitudes toward FRP in retail context. The study also provides fresh insights into how such attitudes can improve consumers' shopping values and satisfaction in an emerging market.

Details

International Journal of Bank Marketing, vol. 40 no. 3
Type: Research Article
ISSN: 0265-2323

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Article
Publication date: 14 June 2022

Li-Wei Wu and Yun-Chia Tang

This study presents an integrated research model to test the relationships between trust in retailers, trust in mobile payment, loyalty to retailers and loyalty to mobile payment

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Abstract

Purpose

This study presents an integrated research model to test the relationships between trust in retailers, trust in mobile payment, loyalty to retailers and loyalty to mobile payment as well as the antecedents of trust in retailers and trust in mobile payment. Thus, this study investigates how customer journey design, relationship investment, structure assurance and perceived ubiquity build trust in retailers and trust in mobile payment and how trust affects loyalty to each aspect. At the same time, this study analyzes the reinforcement of trust and loyalty transfer between a retailer and its mobile payment system.

Design/methodology/approach

From the perspective of mobile payment in omnichannel retailing, the authors proposed a framework with several hypotheses and verified the model with structural equation modeling that involves LISREL and SPSS process and based on questionnaire data collected from mobile payment users.

Findings

This study confirms the positive influences of customer journey design and relationship investment on trust in retailers and the positive impacts of structure assurance and perceived ubiquity on trust in mobile payment. Meanwhile, the findings validate the effects of trust in retailers and mobile payment on loyalty to both retailers and mobile payment and how trust in retailers transfers to trust in mobile payment and loyalty to retailers transfers to loyalty to mobile payment.

Originality/value

This study contributes to the marketing literature by filling the research gap and offering a complete model that explicates customers' trust and loyalty in omnichannel context. The findings help businesses better understand the omnichannel retailing landscape and thereby develop effective marketing strategies in order to gain customers' trust in both retailer and mobile payment and retain more loyal customers.

Details

Internet Research, vol. 32 no. 6
Type: Research Article
ISSN: 1066-2243

Keywords

Article
Publication date: 8 February 2016

Emmeline Taylor

Retailers and suppliers are facing the challenge of reconfiguring systems to accommodate increasingly mobile customers expecting multichannel options supporting quick and secure…

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Abstract

Purpose

Retailers and suppliers are facing the challenge of reconfiguring systems to accommodate increasingly mobile customers expecting multichannel options supporting quick and secure digital payment. The purpose of this paper is to harness the learning from the implementation of self-checkout and combines it with available information relating to mobile scanning and mobile point-of-sale (MPOS).

Design/methodology/approach

In review of the literature, the paper provides an overview of different modes of mobile payment systems, and a consideration of some of the benefits that they offer to retailers and their customers. The main focus, drawing upon telephone interviews with retail security professionals in Australia and New Zealand, is on anticipating and mitigating against the potential risks, vulnerabilities and impact on shrinkage.

Findings

With the market being flooded with software and products, retailers are exposed to a compelling case for mobile payment, but it was found that they are not as cognisant of the potential risks.

Research limitations/implications

Further research is needed on the different permutations of mobile POS and how it impacts on the customer journey and rates of internal and external theft.

Practical implications

Suggestions for future empirical research on the risks and vulnerabilities that moving to mobile payment can usher in are provided.

Originality/value

The paper links research from diverse fields, in particular criminology, to elucidate the potential impact of mobile technologies on retail theft and internal technological and process issues, before offering possible solutions.

Details

International Journal of Retail & Distribution Management, vol. 44 no. 2
Type: Research Article
ISSN: 0959-0552

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Article
Publication date: 14 November 2019

Nofie Iman

How do financial innovations form and evolve in Islamic countries? How do nature and the organisation of innovation interact? Focussing on retail payment services, this paper aims…

Abstract

Purpose

How do financial innovations form and evolve in Islamic countries? How do nature and the organisation of innovation interact? Focussing on retail payment services, this paper aims to analyse recent developments and displays an overview of the status of financial innovation in Islamic countries.

Design/methodology/approach

This study uses six countries as case studies, namely, Egypt, Indonesia, Morocco, Pakistan, Turkey and the UAE. Comparison within and across those cases helps the author provide explanations of how and why such innovations have worked in particular contexts.

Findings

While cash remains dominant, the author found rapid growth in retail payments, but no consensus on standardisation. Several digital innovations have been introduced and begun to converge. Finally, there seems to be a disconnection between innovations and inclusions.

Originality/value

This research paper is, among the few, related to innovation in financial services in Islamic countries, and can be used to develop appropriate marketing strategies for capturing value in the market.

Details

Journal of Islamic Marketing, vol. 11 no. 6
Type: Research Article
ISSN: 1759-0833

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