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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.

States that reference price has emerged as a central feature in consumer decisions. The goal of this study was to explore the contribution of mode of payment to the formulation of personal reference prices (what one believes to be a fair price for a product) and reservation prices (the highest price one is willing to pay for a product). Reference prices for the products were significantly influenced by mode of payment (check, cash, credit card). Those in the credit card condition formulated significantly higher reference and reservation prices than when other modes of payment were considered. That credit cards can raise reference prices leads to a better understanding of why consumers spend more with credit cards.

Banks and other financial institutions have nowadays a keen interest in their customers’ bank and mode of bill payment selection criteria, and in factors underlying this decision making. Recent developments in the financial services industry, for example increasing competition, co‐operation, and convergence mean that new strategies to attract and maintain customers are becoming of key importance for managers. Attempting to reveal the preferences of today’s customers, a survey type of study was undertaken to increase the understanding of consumers’ selection criteria for a mode of payment in Finland. Altogether 1,167 usable responses were used for the data analysis. The results of the study suggest that primary factors affecting the choice of a mode of bill payment are speed, security and trustworthiness, easy‐to‐use, and price of the payment. Some consumers appreciated short distance to a branch. Conversely, examples from friends and relatives, social contacts with the banking personnel, and bank’s name had a relatively low impact on selection of bill payment mode.

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.

This paper aims to assess the impact of different financing strategies used in the cross-border acquisitions on the shifts in the risk profile of the acquiring companies in India. The purpose is to discern which of the stated modes of payment, viz., cash, stock and earnout, enables an acquiring company in better hedging the risk of adverse selection in cross-border acquisitions.

Analysis has been conducted by computing unsystematic (alphas, αs) and the systematic (betas, βs) risk of the acquiring companies, for three different estimation periods, that is the pre-acquisition estimation period, the post-acquisition estimation period and the pooled estimation period. The computations of αs and βs, for each company, have been done by using the market model, whereas further analysis of the average αs and average βs has been done by applying analysis of variance and paired sample t-test.

It has been found that of the three modes of payment, earnouts provide best hedge to the acquiring companies for minimizing the risk of adverse selection in cross-border acquisitions.

The paper recommends earnouts as a prudent strategy for the acquiring companies from India as well as other emerging markets for their future global acquisitions.

This is the pioneering study on analyzing the impact of the different financing strategies on the shifts in the risk profile of acquiring companies.

Despite evidence that cashless payment modes influence spending behavior, researchers have yet to explain the underlying mechanism. Cash serves as a store of value, and transactions involve the transference of ownership in circulation. This study aims to unpack why the physical and visceral nature of cash embodies psychological ownership and how the physicality of cash attenuates the awareness of spending, curtailing instinctive and unnecessary spending.

Drawing on data collected in 2013 in New Zealand, the authors conducted another study in the quite different context of China in September 2023, using identical semistructured discussion protocols. The data from 2013 involved five focus group sessions containing at least six participants, involving 31 adults who also completed an open-ended questionnaire immediately before the group discussion commenced. The data collection in 2023 used the same open-ended and semistructured discussion protocol used in 2013, resulting in 180 adult open-ended responses – a nonprobability criterion-based purposive sampling guided participant selection in the 2013 and 2023 studies.

Findings reveal that psychological ownership does manifest in the app more than in the ownership of money itself. People felt happy, confident, safe and secure while using apps that stored their money. Physical attributes of cash result from sensory perceptions of handling, counting and touching cash and coins. A sense of psychological ownership heightens spending awareness and ramifies spending behavior. The research found sadness and guilt as negative emotions when parting with money.

This study offers empirical support to explain why psychological ownership of cash regulates spending and why the psychological processes that underlie “owned” money interrupt the spending with cash.

Pakistan is predominantly a cash-based economy, with consumers showing several traits ranging from low confidence on the electronic commerce security, poor access to banking, absence of widespread awareness of e-payments and other religious and psychological barriers to adopting alternatives to cash. This study aims to examine e-payment modes in Pakistan with respect to their impact on supplier and consumer behaviour before and during the pandemic times.

The research follows a qualitative approach. Focus groups and interviews are conducted to carry out an in-depth analysis of consumer and supplier behaviour.

The findings show that customers are not satisfied with the current e-commerce system in Pakistan, whereas though producers prefer prepayments, they are forced to rely on cash on delivery. However, due to the recent COVID-19 outbreak, consumers are going cashless to avoid physical cash and observe safety protocols. To convert this temporary and enforced patronage of online transactions into a long-term and sustainable one, massive marketing and a combined effort from the government, private bodies and financial institutions is required.

The study was conducted using online interviews which has the drawback of connection issues, delays and lags in the connectivity, and hence may lead to miss important gestures for data analysis.

This research can be of benefit to online consumers and the supplier side of the online retail industry, by providing them with insight into the various factors that affect consumer behaviour towards e-commerce payment options. An understanding of the behavioural motivators of consumers will allow e-retailers in developing more marketing strategies that are effective, to improve the satisfaction level of their customers and contribute to the development of Pakistan’s e-commerce sector into a globally competitive one.

In this chapter customer opinion and perception towards e-payment system is disclosed with the help of descriptive analysis of the responses collected from the respondents using questionnaire.

COVID-19 is one of people's glooming disasters that brought the entire world to a standstill. To reduce the effect, a countrywide lockout was announced. Stock and distribution chains were affected on a larger scale. Due to the pandemic, purchasing habits of people have changed. It is also evident that individuals are choosing to shop online. As per recent researches, consumer buying behaviour has transformed as a result of the contagion. Due to which, many businesses are revolutionizing to adjust to the new reality. This study was taken up to scrutinize the effect of Corona Virus Disease of 2019 on changes in customer buying behaviour towards E-commerce. This study has offered detailed information on new ways of buyer shopping. It suggests that during the COVID-19 pandemic, consumers have become more accepting of internet shopping, experts in webrooming and with time they are mastering the art of online shopping as well as tuned to online payment methods and are accepting to live with ease in an economy of cashless e-transactions.

The purpose of this paper is to explore the antecedents of the behavioral intention and adoption of mobile payment services like m-wallets and m-banking by users in India. This is done by examining the diffusion of mobile payment technology within an extended framework of the Unified Theory of Acceptance and Use of Technology (UTAUT) model. The study attempts to extend the UTAUT model further by introducing three more constructs, namely- perceived cost, perceived risk and demonetization effect and analyzes the impact of demonetization that happened in India from November 8, 2016 to December 30, 2016 on the mobile payment service adoption process. Demonetization event is a case in point to assess whether forced adoption breaks the normal diffusion process or lends support to the same in the long term.

A survey was conducted in order to gauge the intention behind the adoption of mobile payment modes by users in India. The questionnaire was administered online solely and 880 responses were received within a period of 20 days from February 3, 2017, to February 23, 2017, using Google Forms as a medium. Usable responses were 640. The study adopted partial least square based structural equation modeling (PLS-SEM) technique to analyze the relation between latent variables: performance expectation, effort expectation, social influence, facilitating conditions, perceived cost, perceived risk, demonetization effect, behavioral intention and usage. For this purpose, SmartPLS3.0 software was used to create path diagrams and calculate estimate the significance of factor loadings using the bootstrap technique.

The key results indicates that behavioral intention, demonetization and facilitating conditions have a positive and significant impact on the adoption of mobile payment services in India. Overall, Model 3, which was extended UTAUT model, was observed to be a better model in explaining the antecedents of behavioral intention and usage. In addition to UTAUT antecedents, perceived cost and perceived risk proved to have additional explanatory power as antecedents of behavioral intention. Age acts as a moderating variable consistently across three models, implying that younger users give more importance to effortless interface of mobile payment services and get more influenced by peers and society that shapes their intention to use mobile payment services.

It is first of its kind attempt to assess the role of Demonetization in examining the antecedents of behavioral intention and adoption of mobile payment services by users in India under an extended UTAUT model. This study comprehensively examined the impact of forced adoption of mobile payment services by users in India in a natural setting provided by demonetization event that took place in India by conducting a primary survey right itself in the month of February, 2017 to get first hand response from the Indian users.