What is Venmo? A descriptive analysis of social features in the mobile payment platform

What insisted baby boomers adopt unified payment interface as a payment mechanism?: an exploration of drivers of behavioral intention

Purpose

The unified payment interface (UPI) is in its early stages of adoption for baby boomers. This study explores the factors affecting the behavioral intention of baby boomers to adopt UPI. UTAUT was adopted as theoretical lens of the study and extended with ubiquity, privacy risk and perceived security. The impact of an external factor – effect of COVID-19 was also examined in this study.

Design/methodology/approach

A consumer intercept survey was used to collect data from baby boomers via a self-administered structured questionnaire. Structural equation modeling was used to establish the relationships among latent variables. Further, using bootstrap re-sampling technique, the role of perceived security as a mediator between risk, ubiquity and behavioral intention was examined.

Findings

The study confirmed that COVID-19 was the most influential external factor for baby boomers to adopt UPI, followed by performance expectancy, social influence, ubiquity, effort expectancy and perceived security. Apropos of UPI adoption by baby boomers, privacy risk negatively influenced perceived security, whereas perceived security fully mediated the relationship between risk, ubiquity and behavioral intention.

Research limitations/implications

The study focused only on baby boomers and their intention to adopt UPI. Hence the results cannot be generalized to all age groups and are specific to the cohort.

Originality/value

The present study aims to establish research findings on predicting antecedents of adopting a newly introduced payment mechanism and an exemplary Indian digital innovation, UPI, by baby boomers. This study is first to empirically explore intention of baby boomers toward adoption of UPI.

The effect of digital finance on Residents' happiness: the case of mobile payments in China

With the popularization of digital finance in China, mobile payments have penetrated into all aspects of residents' daily life. However, few studies have examined the potential impact of mobile payments on people's happiness in China. Using the nationally representative data from the China Household Finance Survey (CHFS), this study adopts the ordered probit regression with endogenous treatment to adjust for possible endogeneity to assess the effect of mobile payments on residents' happiness. The results suggest an association between mobile payment usage and increases in happiness, which is supported by several robustness checks, such as using an alternative instrumental variable (IV), replacing the explained variable, and removing some extreme observations. In addition, we explore the mechanisms by which mobile payments affect residents' happiness from multiple perspectives. Positive mechanisms include promoting quality of life, reducing transaction costs, stimulating entrepreneurship, and increasing social interaction. However, as a non-cash payment method, mobile payments may also lead to over-consumption, which is detrimental to residents' happiness. Furthermore, the heterogeneous analysis shows inclusive attributes of mobile payments. We find mobile payments have a greater positive effect on happiness of some socially disadvantaged groups, such as elderly individuals, rural residents, the low-educated, and low-income households. These findings supplement the literature on online happiness and financial inclusion and refer to the possible negative impact of mobile payments. Therefore, it is necessary to actively promote mobile payments to benefit more socially vulnerable groups and prevent potential risks from over-consumption.

A Review of Blockchain in Fintech: Taxonomy, Challenges, and Future Directions

The primary purpose of this paper is to bridge the technology gap between Blockchain and Fintech applications. Blockchain technology is already being explored in a wide number of Fintech sectors. After creating a unique taxonomy for Fintech ecosystems, this paper outlines a number of implementation scenarios. For each of the industries in which blockchain is already in use and has established itself as a complementary technology to traditional systems, we give a taxonomy of use cases. In this procedure, we cover both public and private blockchains. Because it is still believed to be in its infancy, especially when it comes to financial use cases, blockchain has both positive and negative aspects. As a result, it is critical to be aware of all of the open research issues in this field. Our goal is to compile a list of open research challenges related to various aspects of the blockchain’s protocol and application layers. Finally, we will provide a clear understanding of the applications for which blockchain can be valuable, as well as the risks associated with its use in parallel.