Mobile payment apps filling value gaps: Integrating consumption values with initial trust and customer involvement

Abstract

This study aims to understand the consumption values that positively influence the adoption of mobile payment apps (MPAs). The theory of consumption values and two more constructs, initial trust (INT) and customer involvement (COI) are used to create a model tested using structural equation modeling with data collected from 880 Indian consumers. The results obtained from the analysis identified functional (FUV), conditional (COV), epistemic (EPV), and emotional (EMV) values having a significant positive impact on MPA adoption intention. While INT mediated all consumption values, COI positively moderated the relationship of FUV, EPV, and EMV with adoption intention. The critical contribution is using INT and COI to test the mediating and moderating effect utilizing the theory of consumption values. It explains factors contributing directly and indirectly to MPA adoption intention. The study results demonstrate that all consumption values except social value (SOV) positively influence MPA adoption intention. The cross-sectional data was collected during the pandemic from the urban population, which may not be generalizable with other developed nations. The study suggests that promoters of MPAs must focus more on FUV, COV, EPV, and EMV. Governments can promote MPAs with an increased focus on building trust through policy measures and special drives to increase trustworthiness in MPAs. Businesses could increase efforts to involve customers when introducing MPAs and collate critical information from customer touch points for improved consumer involvement. Through greater usage of MPAs, governments can substantially reduce the cost of printing and handling currency bills, saving taxpayers’ money and diverting it to social spending.