The Use of Mobile Payment Systems in Post-COVID-19 Economic Recovery: Primary Research on an Emerging Market for Experience Goods

Abstract

This study investigated whether mobile payment services could drive post-COVID-19 pandemic recovery in the ‘experience goods’ sector (e.g., tourism) utilising Bandura’s self-efficacy or social cognitive theory. It explored the factors influencing the intention to continue using mobile payment services and the intention to recommend these to others. An empirical survey was conducted to assess the study variables, and the data obtained therefrom were analysed using the industry-standard Cross-Industry Standard Process for Data Mining method. The study results suggest that personal innovativeness and perceived trust influence consumers’ intention to continue using mobile payment services and that perceived trust, personal innovativeness and outcome expectancy influence consumers’ intention to recommend the use of such services to others. The research findings have filled a research gap in emerging markets and can serve as the basis for formulating a winning marketing and operational strategy for nascent technologies such as mobile payment services. It would be naïve to extract findings from mature markets such as East Asia, the European Union and the United States and to apply these to developing markets. In addition, this study’s investigation of the variables that can influence the intention to continue using mobile payment services and to recommend the use of these to others goes into the heart of the sustainability issue because the study’s findings can help mobile payment service providers sustain the use of their applications and thus also sustain the advantages as such.