Cognitive and Emotional Associations with Payment Mode: pain perspective

Extant research suggest the connections between payment mode effect and purchase behavior. There is no research to directly analyse how individuals’ perceptions of payment mode influence their choice of payment mode. We used PPM scale to gather perceptions of cash and card and isolated respondents’ preference for payment mode that they normally use. We employed discriminant analysis to find strong evidence that cognitive and emotional associations with payment mode discriminate between payment mode choices. The result is useful in understanding consumer cognitive and emotional associations with payment modes, particularly the use of “owned money” and how these associations impact on payment mode choice