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Factors affecting consumer acceptance of electronic cash in China: an empirical study

Author

Listed:
  • Bo Qu

    (National Internet Finance Association of China
    The People’s Bank of China)

  • Li Wei

    (Renmin University of China
    Renmin University of China
    Renmin University of China)

  • Yujia Zhang

    (Renmin University of China)

Abstract

This paper proposes and validates a comprehensive model of consumer acceptance in the context of offline e-cash payment. It modifies the unified theory of acceptance and the use of technology model (UTAUT) with constructs of perceived security, cost of use, and government policy. Data collected from 4428 questionnaires about users’ attitudes toward e-cash is used to apply a structural equation model which, in turn, assesses the predictive model. The empirical results indicate that perceived security and cost of use are beneficial extensions to the traditional UTAUT model, and intention is a key antecedent to users’ actual utilization of e-cash. In addition, the demographic moderators are found to have significant effects on the relations among the variables. These results are useful to e-cash development and significant to the issue of Digital Currency Electronic Payment.

Suggested Citation

  • Bo Qu & Li Wei & Yujia Zhang, 2022. "Factors affecting consumer acceptance of electronic cash in China: an empirical study," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-19, December.
    • Handle: RePEc:spr:fininn:v:8:y:2022:i:1:d:10.1186_s40854-021-00312-7
    DOI: 10.1186/s40854-021-00312-7
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    References listed on IDEAS

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    1. Ajzen, Icek, 1991. "The theory of planned behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 50(2), pages 179-211, December.
    2. Arfi, Wissal Ben & Nasr, Imed Ben & Kondrateva, Galina & Hikkerova, Lubica, 2021. "The role of trust in intention to use the IoT in eHealth: Application of the modified UTAUT in a consumer context," Technological Forecasting and Social Change, Elsevier, vol. 167(C).
    3. Duarte, Paulo & Pinho, José Carlos, 2019. "A mixed methods UTAUT2-based approach to assess mobile health adoption," Journal of Business Research, Elsevier, vol. 102(C), pages 140-150.
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    Cited by:

    1. Chiang Ku Fan & Chen-Ying Lee, 2023. "An Empirical Study of Internet Insurance in Taiwan Adopting the Theoretical Framework of UTAUT2," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 13(5), pages 1-1.
    2. Oussama Tounekti & Antonio Ruiz-Martínez & Antonio F. Skarmeta Gomez, 2022. "Research in Electronic and Mobile Payment Systems: A Bibliometric Analysis," Sustainability, MDPI, vol. 14(13), pages 1-24, June.
    3. Huosong Xia & Yangmei Gao & Justin Zuopeng Zhang, 2023. "Understanding the adoption context of China’s digital currency electronic payment," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-27, December.
    4. Ma, Chao & Wu, Jingyi & Sun, Heyuan & Zhou, Xin & Sun, Xiyan, 2023. "Enhancing user experience in digital payments: A hybrid approach using SEM and neural networks," Finance Research Letters, Elsevier, vol. 58(PB).
    5. Jaemin Son & Mehmet Huseyin Bilgin & Doojin Ryu, 2022. "Consumer choices under new payment methods," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-22, December.

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