The bright side of online consumer behavior: Continuance intention for mobile payments

Abstract

Researchers on online consumer behavior have rarely discussed the subjective well‐being aspect or improving the life quality of the next billion as the bright side. Emerging technologies such as mobile payments have added to the life quality of people by enabling fast and convenient transactions online that can be performed anywhere and anytime. The studies on mobile payments adoption or continued use are majorly focused on the utilitarian aspects. While the firms face stiff competition and struggle to retain customers it is imperative to discuss both the psychological and behavioral aspects of technology use. The proposed theoretical framework integrates the expectation confirmation model, unified theory of acceptance and use of technology (UTAUT) model, and the subjective well‐being aspect to explain the factors that affect the mobile payments continuance intention. This multidisciplinary study makes a novel contribution to the extant literature on online consumer behavior. Data were obtained by surveying 351 users of mobile payments. The structural equation modeling (SEM) revealed that continuance intention is influenced by subjective well‐being, facilitating conditions, effort expectancy, and satisfaction. Performance expectancy and effort expectancy influence satisfaction that further influences continuance intention. The study deliberates several inferences for service providers for effective strategic advancement. Findings can be used for developing innovative solutions for improved online customer experience and retention. The positioning strategy must convey the life quality improvement as a bright side of technology for better chances of success.