The Impact of Mobile Payment on Consumer Behavior: A Unified Model

The adoption of mobile payment solutions is increasing worldwide at a rapid rate. However, in comparison to the research on the impact of traditional payment methods on consumer behavior, research examining the impact of mobile payment is scarce. In this study, based on psychology literature and mobile payment literature, we develop a unified model to examine the impact of mobile payment on consumer behavior that incorporates both pain and pleasure and their antecedents: payment transparency and payment decoupling. We also include the value perception of the payment method (a second order construct) to understand its relationship with the two hedonic constructs. The model is evaluated using the positivist survey method. Results show that the value perception of mobile payment affects purchase intention through its positive relationship with payment decoupling. Payment transparency positively affects pain of payment, while payment decoupling moderates (positive) the relationship (negative) between pain and pleasure. Pain and pleasure then jointly affect mobile payment user’s purchase intention. This research contributes to both the literature on the post adoption impact of mobile payment as well as the literature on the psychological effects of payment method