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Consumer Attitudes 
on 
M O B I L E 
PAYMENTS 
SOLUTIONS 
An Empyrical Analysis 
MSc Marketing Management Dissertation 
Alessio Aristide Di Salvo - 1656719 
12-12-2014 
Relator Prof.ssa Deborah Carolina Raccagni 
Corelator Prof.ssa Lei Wang
Agenda c 
Research Process 3 
Literature Review 4 
Research Model 5 
Data Analysis 7 
Implications 9 
MSc Marketing Management Dissertation - Alessio Aristide Di Salvo - 12/12/2014 2
1. Observation 2. Qualitative Analysis 3. Literature Review 
3 
7 months as Business 
Developer @ Payleven* 
Two Semi-Structured 
Focus Groups 
1. 5 students @ Bocconi 
Library 
2. 3 Merchants already 
using Payleven mPOS 
@ payleven HQ 
Obtaining more information 
from past research 
• Matching up insights 
from qualitative research 
to generate constructs 
and hypotheses 
4. Research Model 
Generating various 
adoption hypotheses to be 
tested quantitatively: 
Proposed 
Effect 
Relative Advantage 
Perceived Cost 
Compatibility (Pr. + Ex.) 
Effort Expectancy 
Trust/Perceived Risks 
Age 
Income 
5. Quantitative Analysis 
Questionnaire 
CAWI (Payleven Newsletter) 
#Questions 
• 5 Constructs 
• 5 Demographics 
• NetPromoterScore 
• DSI 
5 
+ 
- 
+ 
+ 
+ 
- 
+ 
[10] 
[5] 
[1] 
[2] 
The Journey Research Process 
c 
*Mobile POS provider, part of Rocket Internet GmbH 
MSc Marketing Management Dissertation - Alessio Aristide Di Salvo - 12/12/2014
4 
Existing Research 
Percentage of Mobile Payments Publications By 
Focus Of Research 
c 
The number of research in this field began increasing in 20071, 
Research Question focusing mainly on three streams of knowledge 
38% 
9% 
53% 
Literature Review 
Merchants as key players in the diffusion 
of mobile payments solutions 
Merchants play a significant role in mobile payment market as both 
adopters and promoters of the new system. More research is 
needed to examine the power and participation of merchants in the 
mobile payments market. 
“ 
’’ 
Dahlberg, Past Present and Future of mPayments 
Adoption/Acceptance Analyses 
Ecosystems Characterization 
Business Model Analyses 
Their role in the diffusion studies of Mobile 
POS t e c h n o l ogy h a s be e n widely 
underestimated 
1: Dahlbergh et. al., Past Present and Future of mPayments, 2012 
MSc Marketing Management Dissertation - Alessio Aristide Di Salvo - 12/12/2014
5 
Effects On Adoption c 
Relative 
Advantage 
Perceived Costs 
Compatibility 
(Existing Practices) 
Compatibility 
(Prior Practices) 
Age Income Previous Use Innovativeness 
Effort Expectancy 
Proposed Research Model 
Result of qualitative research and 
review of existing literature 
+ 
- 
+ 
+ 
Trust 
Adoption 
Research Model 
- + + + + 
Moderating Effect 
Direct Effect 
+ 
MSc Marketing Management Dissertation - Alessio Aristide Di Salvo - 12/12/2014
6 
Relative 
Advantage 
Perceived Costs 
Compatibility 
(Existing Practices) 
Compatibility 
(Prior Practices) 
Effort 
Expectancy 
Adoption 
Measures the degree to which an 
innovation is perceived better than its 
precursor. Adapted from UTAUT 
Comprises smartphone, POS, fees and 
added value services. 
Measures the extent to which technology 
fits with existing and prior values and 
practices. Adapted from IDT 
Measures the degree to which an 
innovation is perceived better than its 
precursor. Adapted from UTAUT2 
Trust Age Income Previous Use 
H1 + 
UTAUT: Unified Theory of Acceptance and Use of Technology, Venkatesh et. al. 
IDT: Innovation Diffusion Theory, Rogers 
TAM: Technology Acceptance Model, Rogers 
H7 - 
Constructs and Hypotheses 
H5 - H4 - H4 - H2 - 
H6 - H8 - H9 - 
Technological Behavioral/Social 
c 
Effects On Adoption Research Model 
MSc Marketing Management Dissertation - Alessio Aristide Di Salvo - 12/12/2014
7 
Descriptive Statistics c 
The Sample 
[Target: Payleven’s newsletter subscribed customers] 
544 completed questionnaires 
54% of respondents have been using Payleven for more than 1 year 
Turnover 
Occupation <50k 50-100k 100-500k 500k+ Total 
Lawyers/Notaries 0 0 0 100% 8 
Consultants 100% 0 0 0 8 
Architects/Engineers 60% 40% 0 0 7 
Doctors/Veterinaries 70% 30% 0 0 54 
Craftsmen 78% 11% 11% 0 72 
Merchants (No mobility) 56% 19% 17% 15% 190 
Trade Agents 50% 50% 0 0 16 
Peddlers 77% 0 23% 0 31 
Drivers/Taxis 83% 7% 0 0 48 
Vacation Rentals 94% 6% 0 0 88 
Total 387 87 47 23 544 
Figure 1 - Age Distribution (y.o.) 
18-25 
1% 
Figure 2 - Type Of Company 
3% 
3% 
7% 
12% 
75% 
Sole Proprietorship 
Partnerships 
Corporations 
Cooperatives 
Others 
51+ 
25% 
41-50 
43% 
31-40 
24% 
26-30 
7% 
Table 1 - Turnover*Occupation 
Data Analysis 
MSc Marketing Management Dissertation - Alessio Aristide Di Salvo - 12/12/2014
8 
Multivariate Statistics c 
Table 2 - Cronbach’s Analysis* Table 4 - Linear Regression Results 
Construct Score Adj R2 60% 
Relative Advantage .89 
Perceived Costs .72 
Compatibility (Existing) .76 
Compatibility (Prior) .72 
Effort Expectancy .89 
Table 3 - Factor Analysis 
* Constructs are reliable at .6 - .7 
√ Convergent Validity 
√ Discriminant Validity 
Construct 
Relative Advantage 1 component 
Perceived Costs 1 component 
Compatibility (Existing) 1 component 
Compatibility (Prior) 1 component 
Effort Expectancy 1 component 
Reference (Venkatesh) Adj R2 70% 
Table 4.1 - Beta Scores 
Construct ß Weights 
Relative Advantage 37% 
Compatibility (Prior) 31% 
Compatibility (Existing) 16% 
Effort Expectancy 11% 
Perceived Costs 5% 
√ High level of reliability 
√ Linear relations 
Hypotheses Summary 
H1 - Relative Advantage 
H2 - Perceived Costs 
H3 - Compatibility (prior & existing) 
H4 - Effort Expectancy 
H5 - Trust and perceived risks 
H6 - Age 
H7- Income Level 
H8 - Previous use of POS systems 
√ 
X 
√ 
√ 
√ 
X 
X 
X 
Data Analysis 
Obtained 
MSc Marketing Management Dissertation - Alessio Aristide Di Salvo - 12/12/2014
9 
Marketing Activities Managerial Implications 
Relative 
Advantage 
H1 
Perceived Costs H2 
Compatibility 
(Ex. Practices) 
Compatibility 
(Pr. Practices) 
H3-4 
Effort 
Expectancy 
H5 
Trust & Perceived 
Risks 
H6 
Innovativeness √ 
Age 
Income 
Previous Use 
H7 
H8 
H9 
The growth of mobile payments 
can’t be based on emphasizing convenience (H2). 
Consistent and rewarding User experience (H1, H5) 
together with 
opportunities for businesses’ revenue growth (H6) 
and deep knowledge 
of customers’/users’ (Inn.) behavioral patterns 
could truly influence changes in behavior. 
Confirmed 
Not Confirmed 
MSc Marketing Management Dissertation - Alessio Aristide Di Salvo - 12/12/2014
10 
Future Trends Managerial Implications 
Three trends 
that will make the difference for mobile payments solutions 
Service Before And 
After Transactions 
“Cards on file” 
Data-analytics driven added value services and tools 
such as price comparison addons, location-based 
gratification tools, ad-hoc service/product discovery 
platforms. 
Increased Security 
“Cards on file” has emerged as a key enabler of 
transactions being initiated on the mobile devices. This 
will makes payment seamless and more transparent to 
consumers 
Industry-wide initiatives, such as “tokenization” could 
significantly increase the perceived level of security. 
Questionnaire Results 
Value Added Services 
Ranked higher than device 
costs and service fees 
57% of respondents 
used the mPayment solution as 
the main payment gateway 
Security is the main concern 
preventing consumers from 
adopting mobile payments 
solutions 
MSc Marketing Management Dissertation - Alessio Aristide Di Salvo - 12/12/2014
11 
Thank 
you.

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Master Of Science Dissertation

  • 1. Consumer Attitudes on M O B I L E PAYMENTS SOLUTIONS An Empyrical Analysis MSc Marketing Management Dissertation Alessio Aristide Di Salvo - 1656719 12-12-2014 Relator Prof.ssa Deborah Carolina Raccagni Corelator Prof.ssa Lei Wang
  • 2. Agenda c Research Process 3 Literature Review 4 Research Model 5 Data Analysis 7 Implications 9 MSc Marketing Management Dissertation - Alessio Aristide Di Salvo - 12/12/2014 2
  • 3. 1. Observation 2. Qualitative Analysis 3. Literature Review 3 7 months as Business Developer @ Payleven* Two Semi-Structured Focus Groups 1. 5 students @ Bocconi Library 2. 3 Merchants already using Payleven mPOS @ payleven HQ Obtaining more information from past research • Matching up insights from qualitative research to generate constructs and hypotheses 4. Research Model Generating various adoption hypotheses to be tested quantitatively: Proposed Effect Relative Advantage Perceived Cost Compatibility (Pr. + Ex.) Effort Expectancy Trust/Perceived Risks Age Income 5. Quantitative Analysis Questionnaire CAWI (Payleven Newsletter) #Questions • 5 Constructs • 5 Demographics • NetPromoterScore • DSI 5 + - + + + - + [10] [5] [1] [2] The Journey Research Process c *Mobile POS provider, part of Rocket Internet GmbH MSc Marketing Management Dissertation - Alessio Aristide Di Salvo - 12/12/2014
  • 4. 4 Existing Research Percentage of Mobile Payments Publications By Focus Of Research c The number of research in this field began increasing in 20071, Research Question focusing mainly on three streams of knowledge 38% 9% 53% Literature Review Merchants as key players in the diffusion of mobile payments solutions Merchants play a significant role in mobile payment market as both adopters and promoters of the new system. More research is needed to examine the power and participation of merchants in the mobile payments market. “ ’’ Dahlberg, Past Present and Future of mPayments Adoption/Acceptance Analyses Ecosystems Characterization Business Model Analyses Their role in the diffusion studies of Mobile POS t e c h n o l ogy h a s be e n widely underestimated 1: Dahlbergh et. al., Past Present and Future of mPayments, 2012 MSc Marketing Management Dissertation - Alessio Aristide Di Salvo - 12/12/2014
  • 5. 5 Effects On Adoption c Relative Advantage Perceived Costs Compatibility (Existing Practices) Compatibility (Prior Practices) Age Income Previous Use Innovativeness Effort Expectancy Proposed Research Model Result of qualitative research and review of existing literature + - + + Trust Adoption Research Model - + + + + Moderating Effect Direct Effect + MSc Marketing Management Dissertation - Alessio Aristide Di Salvo - 12/12/2014
  • 6. 6 Relative Advantage Perceived Costs Compatibility (Existing Practices) Compatibility (Prior Practices) Effort Expectancy Adoption Measures the degree to which an innovation is perceived better than its precursor. Adapted from UTAUT Comprises smartphone, POS, fees and added value services. Measures the extent to which technology fits with existing and prior values and practices. Adapted from IDT Measures the degree to which an innovation is perceived better than its precursor. Adapted from UTAUT2 Trust Age Income Previous Use H1 + UTAUT: Unified Theory of Acceptance and Use of Technology, Venkatesh et. al. IDT: Innovation Diffusion Theory, Rogers TAM: Technology Acceptance Model, Rogers H7 - Constructs and Hypotheses H5 - H4 - H4 - H2 - H6 - H8 - H9 - Technological Behavioral/Social c Effects On Adoption Research Model MSc Marketing Management Dissertation - Alessio Aristide Di Salvo - 12/12/2014
  • 7. 7 Descriptive Statistics c The Sample [Target: Payleven’s newsletter subscribed customers] 544 completed questionnaires 54% of respondents have been using Payleven for more than 1 year Turnover Occupation <50k 50-100k 100-500k 500k+ Total Lawyers/Notaries 0 0 0 100% 8 Consultants 100% 0 0 0 8 Architects/Engineers 60% 40% 0 0 7 Doctors/Veterinaries 70% 30% 0 0 54 Craftsmen 78% 11% 11% 0 72 Merchants (No mobility) 56% 19% 17% 15% 190 Trade Agents 50% 50% 0 0 16 Peddlers 77% 0 23% 0 31 Drivers/Taxis 83% 7% 0 0 48 Vacation Rentals 94% 6% 0 0 88 Total 387 87 47 23 544 Figure 1 - Age Distribution (y.o.) 18-25 1% Figure 2 - Type Of Company 3% 3% 7% 12% 75% Sole Proprietorship Partnerships Corporations Cooperatives Others 51+ 25% 41-50 43% 31-40 24% 26-30 7% Table 1 - Turnover*Occupation Data Analysis MSc Marketing Management Dissertation - Alessio Aristide Di Salvo - 12/12/2014
  • 8. 8 Multivariate Statistics c Table 2 - Cronbach’s Analysis* Table 4 - Linear Regression Results Construct Score Adj R2 60% Relative Advantage .89 Perceived Costs .72 Compatibility (Existing) .76 Compatibility (Prior) .72 Effort Expectancy .89 Table 3 - Factor Analysis * Constructs are reliable at .6 - .7 √ Convergent Validity √ Discriminant Validity Construct Relative Advantage 1 component Perceived Costs 1 component Compatibility (Existing) 1 component Compatibility (Prior) 1 component Effort Expectancy 1 component Reference (Venkatesh) Adj R2 70% Table 4.1 - Beta Scores Construct ß Weights Relative Advantage 37% Compatibility (Prior) 31% Compatibility (Existing) 16% Effort Expectancy 11% Perceived Costs 5% √ High level of reliability √ Linear relations Hypotheses Summary H1 - Relative Advantage H2 - Perceived Costs H3 - Compatibility (prior & existing) H4 - Effort Expectancy H5 - Trust and perceived risks H6 - Age H7- Income Level H8 - Previous use of POS systems √ X √ √ √ X X X Data Analysis Obtained MSc Marketing Management Dissertation - Alessio Aristide Di Salvo - 12/12/2014
  • 9. 9 Marketing Activities Managerial Implications Relative Advantage H1 Perceived Costs H2 Compatibility (Ex. Practices) Compatibility (Pr. Practices) H3-4 Effort Expectancy H5 Trust & Perceived Risks H6 Innovativeness √ Age Income Previous Use H7 H8 H9 The growth of mobile payments can’t be based on emphasizing convenience (H2). Consistent and rewarding User experience (H1, H5) together with opportunities for businesses’ revenue growth (H6) and deep knowledge of customers’/users’ (Inn.) behavioral patterns could truly influence changes in behavior. Confirmed Not Confirmed MSc Marketing Management Dissertation - Alessio Aristide Di Salvo - 12/12/2014
  • 10. 10 Future Trends Managerial Implications Three trends that will make the difference for mobile payments solutions Service Before And After Transactions “Cards on file” Data-analytics driven added value services and tools such as price comparison addons, location-based gratification tools, ad-hoc service/product discovery platforms. Increased Security “Cards on file” has emerged as a key enabler of transactions being initiated on the mobile devices. This will makes payment seamless and more transparent to consumers Industry-wide initiatives, such as “tokenization” could significantly increase the perceived level of security. Questionnaire Results Value Added Services Ranked higher than device costs and service fees 57% of respondents used the mPayment solution as the main payment gateway Security is the main concern preventing consumers from adopting mobile payments solutions MSc Marketing Management Dissertation - Alessio Aristide Di Salvo - 12/12/2014