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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.
(Score: 3, Insightful) by Runaway1956 on Sunday December 02 2018, @06:15PM (1 child)
Perhaps. I won't argue very hard, but I'll offer you some argument. The places I frequent don't seem to be networked into the WWW yet. Most businesses have dumb cameras, that record XX number of hours, then begin erasing drive space to make room for new video. Cutting edge tech, and networking, cost. The bandwidth to truly network all of those video cameras isn't available out here in Outback, Nowhere.
In the cities? Hmmmm. . . maybe. The bandwidth is available, of course. The tech is available. But, still, both cost money. I suppose that even in the cities, you have a patchwork of superb surveillance, moderate surveillance, and shoddy surveillance that equals what we have out in the country side. Those who have the money, have the best, those who don't have the money, settle for whatever they can get.
Of course, I may just be fooling myself. The cops have plenty of bandwidth for license plate readers. Those computers on the passenger seats always seem to work quite well, no matter how far out in the country you get. Something to think about: The bandwidth has been there for years, with that almost-mythical "deepstate" always directing the telcos where that bandwidth needs to go. Just because I have no access to it, doesn't mean it doesn't exist at all. Food for thought, nothing more.
(Score: 2) by RandomFactor on Sunday December 02 2018, @06:52PM
Not really much to argue about there.
.
I do live in the big city, which colors my perspective accordingly. But yes, it is probably worse than what you see.
.
Still, I do fully intend to join you in BFE when I retire :-)
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