What drives continued intention for mobile payment? — An expectation cost benefit theory with habit

Abstract

The number of smartphone users has increased rapidly in recent years as the mobile networking becomes more mature, which not only gives rise to a new lifestyle but also facilitates the development of mobile application services. Smartphones thus become an indispensable device of people’s daily contact. Today people from all walks of life set their attention on mobile payments amongst smartphone mobile application services. To explore the factors affecting users’ continued use of mobile payments, this study has sought to build a theoretical framework based on the cost-benefit theory and add habit as a factor to put forward an integrated research model, which explicates people’s continued use of mobile payment services. An online questionnaire was employed to collect empirical data. A total of 295 samples were analyzed using structural equation modeling (SEM) approach. The results showed that both perceived value and habit played an important role in users’ continued intention to use mobile payment services. Also, the perceived benefits (mobile convenience and service compatibility) and perceived costs (security risk and perceived fee) are crucial factors that determine users’ perceived value. In addition, the study also found that perceived value had a positive impact on users’ habit, showing that in the context of a mobile-oriented information system, whether mobile payment services satisfied users’ perceived value influenced the formation of habit of using such services. The implications of these findings are discussed.