移动支付和消费者支付意愿外文翻译中英文2020

移动支付便利性和消费者支付意愿中英文

原文

The effect of credit card versus mobile payment on convenience and consumers’

willingness to pay

Joe Boden，Erik Maier，Robert Wilken

Abstract

Extant literature on payment methods has focused on comparing cash and credit cards and emphasized the lower pain of paying (i.e., fewer negative consequences) for the latter. This finding, in turn, explains why consumers express higher willingness to pay (WTP) when paying with credit cards. The current study introduces mobile technology as a new payment method to this literature. Specifically, it highlights convenience as a positive driver of increased WTP for mobile payment. However, for consumers to perceive mobile payment as convenient, a personal adoption (enabled through an existing system in the respective country market) is necessary. A set of three studies across several country markets tests these assumptions empirically. Convenience emerges as a new mediator between mobile payment and increased WTP, contingent on personal adoption. These findings thus extend extant literature on the mechanisms consumers use with different payment methods, and they offer differentiated recommendations regarding payment channels for country managers.

Keywords：Willingness to pay，Convenience，Mobile payment，Pain of paying，Adoption

1. Introduction

A recently introduced payment alternative is mobile payment. Optimistic commentators have described it as the “death of cash” (Pickford, 2015); even the Anglican church uses it for in-church donations (Bowsher, 2017). In some countries, mobile payment has become an established payment mechanism similar to credit or debit cards. For instance, the volume of mobile payment transaction is expected to exceed credit card transaction volume by 30% in China (Wang, 2018).

Extant literature on payment methods has focused on comparing cash and credit or debit cards and shows increased levels of consumers' willingness to pay (WTP) when using cards (Prelec and Simester, 2001; Runnemark et al., 2015). This credit card premium (Feinberg, 1986) can be explained by lower pain of paying (”… direct and immediate displeasure or pain from the act of making a payment …” Zellermayer, 1996, p. 2) through, for instance, less transparency or decoupling payment and transaction (Gafeeva et al., 2018; Soman, 2003; Prelec and Loewenstein, 1998). Falk et al. (2016) are the first to also include mobile payment in the investigated means of payment, although only as side aspect in the investigation, but they do not find a significant premium of mobile pay over credit cards, only versus cash. We propose pain of paying alone might be insufficient to explain differences in consumers’ WTP for different payment means. For instance, other mediators might affect the results.

Convenience might be a second mediator that influences consumers' WTP. Extant research on mobile solutions in general establishes convenience as key advantage relative to non-mobile alternatives (see mobile travel and banking applications research, e.g., Dahlberg et al., 2015; Mallat, 2007). Also research on