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Electronic Payment Behaviors of Consumers under Digital Transformation in Finance—A Case Study of Third-Party Payments

Author

Listed:
  • Lan-Hui Lin

    (Department of Accounting, National Changhua University of Education, Changhua 500, Taiwan)

  • Feng-Chen Lin

    (Department of Finance, Chang Jung Christian University, Tainan 711, Taiwan)

  • Chih-Kang Lien

    (Department of Accounting, National Taiwan University, Taipei 106, Taiwan)

  • Tung-Chin Yang

    (Department of Finance, National Changhua University of Education, Changhua 500, Taiwan)

  • Yao-Kai Chuang

    (Department of Business Administration, Kun Shan University, Tainan 710, Taiwan)

  • Yi-Wen Hsu

    (Department of Accounting, National Changhua University of Education, Changhua 500, Taiwan)

Abstract

In the digital era, new financial technologies and big data are accelerating the development of financial transactions. With the rise of e-commerce transactions, the financial industry has come to recognize that banking as a service can be seamlessly integrated into any scenario, thanks to disruptive innovation driven by electronic and third-party payments. This study aims to examine the consumer acceptance of third-party payment systems offered by electronic payment platforms for e-commerce, as well as their continued usage in the context of digital transformation in finance. This study employed the questionnaire survey method, and it distributed questionnaires to consumers who have used third-party payment systems. A total of 332 valid questionnaires were collected. The results indicate that user acceptance of innovative technologies and various external variables (e.g., the user’s external environment, internal characteristics, and information system quality) were significantly positively correlated with perceived usefulness, perceived ease of use, and behavioral intention regarding the electronic payment behaviors of consumers. Based on the empirical results, this study proposes important managerial implications for the financial industry and e-commerce platforms in promoting electronic payment innovation.

Suggested Citation

  • Lan-Hui Lin & Feng-Chen Lin & Chih-Kang Lien & Tung-Chin Yang & Yao-Kai Chuang & Yi-Wen Hsu, 2023. "Electronic Payment Behaviors of Consumers under Digital Transformation in Finance—A Case Study of Third-Party Payments," JRFM, MDPI, vol. 16(8), pages 1-22, July.
    • Handle: RePEc:gam:jjrfmx:v:16:y:2023:i:8:p:346-:d:1201740
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    References listed on IDEAS

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    3. Chen, Lei-Da & Tan, Justin, 2004. "Technology Adaptation in E-commerce:: Key Determinants of Virtual Stores Acceptance," European Management Journal, Elsevier, vol. 22(1), pages 74-86, February.
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