Exploring Determinants of Generation Y Consumers’ Behavioral Intention and Use Behavior of Mobile Payment in China
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Abstract
Purpose: With one billion active users in China, mobile payments have transformed the way financial services are delivere, Thus, this paper aims to examine the factors that influence the mobile payment behavior of Chinese Generation Y consumers, focusing on their intention and use behavior. The research framework considers social influence, perceived value, perceived usefulness, perceived ease of use, perceived risk, and user behavior and explores their causal relationships. Research design, data, and methodology: This study employed a quantitative research method and surveyed 500 Chinese Generation Y consumers using purposive, quota and convenience sampling. Structural equation modeling (SEM) and confirmatory factor analysis (CFA) were employed for data analysis and model fit, reliability, and construct validity. Results: The findings indicate that the behavioral intention of Chinese Generation Y consumers has the greatest impact on their mobile payment use behavior. Additionally, social influence, perceived value, perceived ease of use, perceived usefulness and perceived risk significantly affect behavioral intention. Moreover, perceived ease of use significantly affects behavioral intention through perceived usefulness. Conclusions: This study successfully tested seven hypotheses and suggested that mobile payment platforms utilize the research framework to measure and improve Chinese Generation Y consumers' behavioral intention and use behavior.
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