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posted by mrpg on Sunday December 02 2018, @11:52AM   Printer-friendly
from the don't-care-I'm-poor dept.

Submitted via IRC for SoyCow1984

Adoption of mobile payment shifts consumer spending patterns, habits

Paying for a cup of coffee with a smartphone instead of a credit card is gaining prominence among consumers – and is disrupting their spending patterns and consumption habits, according to new research co-written by a University of Illinois expert who studies operations management.

[...] Using a unique data set from one of the largest banks in China – which contained the transaction data from personal computer, offline and mobile payment channels – Xu and co-authors found that, on average, the total transaction amount increased by 2.4 percent after the adoption of the mobile payment channel, and that the total transaction frequency increased by more than 23 percent.

[...] “Switching to the mobile channel leads to more shopping overall, and it particularly affects more hedonistic shopping such as food, entertainment and travel,” Xu said. “But it doesn’t affect purchases like education or health care. So it’s changing consumer behavior.”

The greatest impact came on less costly items that are purchased frequently, such as beverages and movie tickets.


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  • (Score: 0) by Anonymous Coward on Sunday December 02 2018, @06:13PM (3 children)

    by Anonymous Coward on Sunday December 02 2018, @06:13PM (#768932)

    Sound plausible, but are there studies to back this up?

  • (Score: 2) by Runaway1956 on Sunday December 02 2018, @06:25PM (1 child)

    by Runaway1956 (2926) Subscriber Badge on Sunday December 02 2018, @06:25PM (#768936) Journal

    Perhaps not. But, think a little bit about yourself, and human psychology, and the process of setting up a phone to make payments for you. You put some amount of work into setting the thing up. When you think you've got it, you have to go test it. Ooops, didn't work, you got some part of the magic incantations wrong, or something. So, you go over the formulas, chant it all again, sign in blood again, and you go test it again. EUREKA!! IT WORKS!! You've invest blood, sweat, and tears, and part of your soul into linking your telephone directly into your bank account. You're going to USE IT now, aren't you?

    I strongly suspect that if the studies are done, then GP's claim will be validated. For the reasons I offer, as well as the reasons he offers.

    • (Score: 2) by https on Sunday December 02 2018, @07:21PM

      by https (5248) on Sunday December 02 2018, @07:21PM (#768949) Journal

      I do not use sendmail any more, so there must be a flaw in the reasoning.

      --
      Offended and laughing about it.
  • (Score: 0) by Anonymous Coward on Monday December 03 2018, @03:32AM

    by Anonymous Coward on Monday December 03 2018, @03:32AM (#769057)

    No need for a study, just look at how hard the banks are pushing it.