IDEAS home Printed from https://ideas.repec.org/a/spr/fininn/v9y2023i1d10.1186_s40854-022-00443-5.html
   My bibliography  Save this article

A modified EDAS model for comparison of mobile wallet service providers in India

Author

Listed:
  • Sanjib Biswas

    (Calcutta Business School)

  • Dragan Pamucar

    (University of Belgrade)

Abstract

The present paper has two-fold purposes. First, the current work provides an integrated theoretical framework to compare popular mobile wallet service providers based on users' views in the Indian context. To this end, we propose a new grey correlation-based Picture Fuzzy-Evaluation based on Distance from Average Solution (GCPF-EDAS) framework for the comparative analysis. We integrate the fundamental framework of the Technology Acceptance Model and Unified theory of acceptance and use of technology vis-à-vis service quality dimensions for criteria selection. For comparative ranking, we conduct our analysis under uncertain environments using picture fuzzy numbers. We find that user-friendliness, a wide variety of use, and familiarity and awareness about the products help reduce the uncertainty factors and obtain positive impressions from the users. It is seen that PhonePe (A3), Google Pay (A2), Amazon Pay (A4) and PayTM (A1) hold top positions. For validation of the result, we first compare the ranking provided by our proposed model with that derived by using picture fuzzy score based extensions of EDAS and another widely used algorithm such as The Technique for Order of Preference by Similarity to Ideal Solution. We observe a significant consistency. We then carry out rank reversal test for GCPF-EDAS model. We notice that our proposed GCPF-EDAS model does not suffers from rank reversal phenomenon. To examine the stability in the result for further validation, we carry out the sensitivity analysis by varying the differentiating coefficient and exchanging the criteria weights. We find that our proposed method provides stable result for the present case study and performs better as ranking order does not get changed significantly with the changes in the given conditions.

Suggested Citation

  • Sanjib Biswas & Dragan Pamucar, 2023. "A modified EDAS model for comparison of mobile wallet service providers in India," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-31, December.
    • Handle: RePEc:spr:fininn:v:9:y:2023:i:1:d:10.1186_s40854-022-00443-5
    DOI: 10.1186/s40854-022-00443-5
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1186/s40854-022-00443-5
    File Function: Abstract
    Download Restriction: no
    File URL: https://libkey.io/10.1186/s40854-022-00443-5?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Ajzen, Icek, 1991. "The theory of planned behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 50(2), pages 179-211, December.
    2. Guiwu Wei, 2018. "Uncertain Hamacher Aggregation Operators and Their Application to Multiple Attribute Decision Making," International Journal of Decision Support System Technology (IJDSST), IGI Global, vol. 10(2), pages 40-64, April.
    3. Asante, Dennis & He, Zheng & Adjei, Nana Osae & Asante, Bismark, 2020. "Exploring the barriers to renewable energy adoption utilising MULTIMOORA- EDAS method," Energy Policy, Elsevier, vol. 142(C).
    4. Richard Duncombe & Richard Boateng, 2009. "Mobile Phones and Financial Services in Developing Countries: a review of concepts, methods, issues, evidence and future research directions," Third World Quarterly, Taylor & Francis Journals, vol. 30(7), pages 1237-1258.
    5. William Jack & Tavneet Suri, 2011. "Mobile Money: The Economics of M-PESA," NBER Working Papers 16721, National Bureau of Economic Research, Inc.
    6. Guiwu Wei, 2016. "Picture fuzzy cross-entropy for multiple attribute decision making problems," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 17(4), pages 491-502, July.
    7. Belton, Valerie & Gear, Tony, 1985. "The legitimacy of rank reversal--A comment," Omega, Elsevier, vol. 13(3), pages 143-144.
    8. Singh, Nidhi & Sinha, Neena, 2020. "How perceived trust mediates merchant's intention to use a mobile wallet technology," Journal of Retailing and Consumer Services, Elsevier, vol. 52(C).
    9. Singh, Nidhi & Sinha, Neena & Liébana-Cabanillas, Francisco J., 2020. "Determining factors in the adoption and recommendation of mobile wallet services in India: Analysis of the effect of innovativeness, stress to use and social influence," International Journal of Information Management, Elsevier, vol. 50(C), pages 191-205.
    10. Yogesh K. Dwivedi & Kuttimani Tamilmani & Michael D. Williams & Banita Lal, 2014. "Adoption of M-commerce: examining factors affecting intention and behaviour of Indian consumers," International Journal of Indian Culture and Business Management, Inderscience Enterprises Ltd, vol. 8(3), pages 345-360.
    11. Abhipsa Pal & Tejaswini Herath & Rahul De’ & H. Raghav Rao, 2020. "Contextual facilitators and barriers influencing the continued use of mobile payment services in a developing country: insights from adopters in India," Information Technology for Development, Taylor & Francis Journals, vol. 26(2), pages 394-420, April.
    12. Mališa Žižović & Dragan Pamučar & Miloljub Albijanić & Prasenjit Chatterjee & Ivan Pribićević, 2020. "Eliminating Rank Reversal Problem Using a New Multi-Attribute Model—The RAFSI Method," Mathematics, MDPI, vol. 8(6), pages 1-16, June.
    13. Chithambaranathan, P. & Subramanian, Nachiappan & Gunasekaran, Angappa & Palaniappan, PL.K., 2015. "Service supply chain environmental performance evaluation using grey based hybrid MCDM approach," International Journal of Production Economics, Elsevier, vol. 166(C), pages 163-176.
    14. Vijay Viswanathan & Linda D. Hollebeek & Edward C. Malthouse & Ewa Maslowska & Su Jung Kim & Wei Xie, 2017. "The Dynamics of Consumer Engagement with Mobile Technologies," Service Science, INFORMS, vol. 9(1), pages 36-49, March.
    15. Darren Flood & Tim West & Daniel Wheadon, 2013. "Trends in Mobile Payments in Developing and Advanced Economies," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 71-80, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Yi-Hsiang Lu & Ching-Chiang Yeh & Yu-Mei Kuo, 2024. "Exploring the critical factors affecting the adoption of blockchain: Taiwan’s banking industry," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 10(1), pages 1-25, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Liébana-Cabanillas, Francisco & Japutra, Arnold & Molinillo, Sebastián & Singh, Nidhi & Sinha, Neena, 2020. "Assessment of mobile technology use in the emerging market: Analyzing intention to use m-payment services in India," Telecommunications Policy, Elsevier, vol. 44(9).
    2. Ashwarya Kapoor & Rajiv Sindwani & Manisha Goel, 2024. "Mobile Wallets: Theoretical and Empirical Analysis," Global Business Review, International Management Institute, vol. 25(2_suppl), pages 211-228, April.
    3. Melia, Elvis, 2019. "The impact of information and communication technologies on jobs in Africa: a literature review," IDOS Discussion Papers 3/2019, German Institute of Development and Sustainability (IDOS).
    4. El Barachi, May & Salim, Taghreed Abu & Nyadzayo, Munyaradzi W. & Mathew, Sujith & Badewi, Amgad & Amankwah-Amoah, Joseph, 2022. "The relationship between citizen readiness and the intention to continuously use smart city services: Mediating effects of satisfaction and discomfort," Technology in Society, Elsevier, vol. 71(C).
    5. Francisco Liébana-Cabanillas & Francisco Muñoz-Leiva & Sebastián Molinillo & Elena Higueras-Castillo, 2022. "Do biometric payment systems work during the COVID-19 pandemic? Insights from the Spanish users' viewpoint," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-25, December.
    6. Jiahuan He & Xindi Wang & Runtong Zhang & Li Li, 2019. "Some q -Rung Picture Fuzzy Dombi Hamy Mean Operators with Their Application to Project Assessment," Mathematics, MDPI, vol. 7(5), pages 1-28, May.
    7. Love Offeibea Asiedu-Ayeh & Xungang Zheng & Kobina Agbodah & Bright Senyo Dogbe & Adjei Peter Darko, 2022. "Promoting the Adoption of Agricultural Green Production Technologies for Sustainable Farming: A Multi-Attribute Decision Analysis," Sustainability, MDPI, vol. 14(16), pages 1-21, August.
    8. Lingling Gao & Kerem Aksel Waechter, 2017. "Examining the role of initial trust in user adoption of mobile payment services: an empirical investigation," Information Systems Frontiers, Springer, vol. 19(3), pages 525-548, June.
    9. Arpan Kumar Kar, 2021. "What Affects Usage Satisfaction in Mobile Payments? Modelling User Generated Content to Develop the “Digital Service Usage Satisfaction Model”," Information Systems Frontiers, Springer, vol. 23(5), pages 1341-1361, September.
    10. Chang, Yung-Chi & Enkhjargal, Uguumur & Huang, Chen-I & Lin, Wen-Ling & Ho, Chi-Ming, 2020. "Factors Affecting the Internet Banking Adoption," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 54(3), pages 117-131.
    11. Frank Bivar Franque & Tiago Oliveira & Carlos Tam, 2023. "Continuance Intention of Mobile Payment: TTF Model with Trust in an African Context," Information Systems Frontiers, Springer, vol. 25(2), pages 775-793, April.
    12. Kamal Abubker Abrahim Sleiman & Wang Jin & Lan Juanli & Hong Zhen Lei & Jingyi Cheng & Yuanxin Ouyang & Wenge Rong, 2022. "The Factors of Continuance Intention to Use Mobile Payments in Sudan," SAGE Open, , vol. 12(3), pages 21582440221, August.
    13. Chakraborty, Debarun & Siddiqui, Aaliyah & Siddiqui, Mujahid & Rana, Nripendra P. & Dash, Ganesh, 2022. "Mobile payment apps filling value gaps: Integrating consumption values with initial trust and customer involvement," Journal of Retailing and Consumer Services, Elsevier, vol. 66(C).
    14. Suizhi Luo & Lining Xing, 2019. "Picture Fuzzy Interaction Partitioned Heronian Aggregation Operators for Hotel Selection," Mathematics, MDPI, vol. 8(1), pages 1-23, December.
    15. Higueras-Castillo, Elena & Liébana-Cabanillas, Francisco J. & Villarejo-Ramos, Ángel F., 2023. "Intention to use e-commerce vs physical shopping. Difference between consumers in the post-COVID era," Journal of Business Research, Elsevier, vol. 157(C).
    16. Sutticherchart Juthatip & Rakthin Sirisuhk, 2023. "Determinants of digital wallet adoption and super app: A review and research model," Management & Marketing, Sciendo, vol. 18(3), pages 270-289, September.
    17. Giacomo Migliore & Ralf Wagner & Felipe Schneider Cechella & Francisco Liébana-Cabanillas, 2022. "Antecedents to the Adoption of Mobile Payment in China and Italy: an Integration of UTAUT2 and Innovation Resistance Theory," Information Systems Frontiers, Springer, vol. 24(6), pages 2099-2122, December.
    18. S. V. Krishna Kishore & Aloysius Henry Sequeira, 2016. "An Empirical Investigation on Mobile Banking Service Adoption in Rural Karnataka," SAGE Open, , vol. 6(1), pages 21582440166, March.
    19. Arpan Kumar Kar, 0. "What Affects Usage Satisfaction in Mobile Payments? Modelling User Generated Content to Develop the “Digital Service Usage Satisfaction Model”," Information Systems Frontiers, Springer, vol. 0, pages 1-21.
    20. Neena Sinha & Nidhi Singh, 2023. "Moderating and mediating effect of perceived experience on merchant's behavioral intention to use mobile payments services," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 28(3), pages 448-465, September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:fininn:v:9:y:2023:i:1:d:10.1186_s40854-022-00443-5. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.