Mobile Payment Adoption: An Empirical Investigation of Alipay

• 成果类型: Article
• 署名作者: Xu, Yuqian; Ghose, Anindya; Xiao, Binqing
• 署名单位: University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine; New York University; Nanjing University
• 刊物名称: INFORMATION SYSTEMS RESEARCH
• ISSN/ISSBN: 1047-7047
• DOI: 10.1287/isre.2021.0156
• 发表日期: 2024
• 关键词: information-technology; consumer adoption; user acceptance; online; determinants; channels; STORES

摘要

The rapid growth in the adoption of mobile payments has already begun to reshape bank payment practices. Utilizing a unique data set from a leading bank in Asia that records credit card transactions of its customers before and after the launch of Alipay mobile payment, the largest mobile payment platform in the world, this study aims to understand the impact of mobile payment adoption on bank customer credit card activities and the change of this impact after the mobile payment expansion. To do so, we employ the difference-in-differences method coupled with matching to estimate the effects. We find that mobile payment adoption not only increases customer credit card activities at the focal bank through both off-line and online channels, but also enhances customer loyalty to the bank by reducing churn. Specifically, the total credit card transaction amount and frequency of our focal bank increased by 9.4% and 10.7%, respectively. Moreover, we examine the change in the treatment effect after the mobile payment expansion and find an increase in adopters' credit card activities and a reduction in their churn after the expansion. Next, we discuss the underlying mechanisms and show that mobile payment acts as a substitute for physical card payment in the off-line channel, and this supports the key underlying mechanism of the reduced transaction cost. However, a certain complementary effect exists between personal computer and mobile payments, likely driven by the coadoption of the two. Finally, we provide empirical evidence on conditions that facilitate the use of mobile payments, following the unified theory of acceptance and use of technology.