A Study On Formation Mechanism And Measurement Of Mobile Payment Initial Trust Under Cross-channel Environment

Payment Initial Trust under Cross-channel Environment Abstract:As a new means of payment, mobile payment has improved users’payment experience, and gradually being concerned by all parties in the world. However, due to multiple factors such as industrial policy and the interests of the industry chain balancing, Chinese mobile payment industry is still in its early stage. The main reason is the lack of consumer initial trust in mobile payment services, and how to take effective measures to build consumer trust in mobile payment is the initial major problem currently facing. The purpose of this study is to explore whether trust transfer is an effective way of establishing initial trust in mobile payment, and empirically study consumer initial trust formation mechanism of mobile payment under cross-channel environment.Based on trust transfer theory, specifying mobile payment service as the specific research object, the paper builds a cross-channel environment conceptual model of mobile payment initial trust from four aspects, named transaction intermedium, transaction environment, mobile merchant, and customers’personal factors. Collecting520valid questionnaires through online and offline surveys, we test the conceptual model and research hypotheses by SPSS18.0and AMOS20.0, and further revise the theoretical model. The empirical results show that:(1) online payment trust, structural assurance, relevant groups, trust propensity, perceived usefulness, firm reputation, and mobility are the main constructs determining consumers’initial trust in mobile payment(R2=0.672), while online payment trust plays the most important role.(2) Consumers’perceived ease of use has no influence in initial trust in mobile payment.(3) Online payment trust not only has a direct significant impact on initial trust in mobile payment, but also has indirectly significant impact by perceived usefulness and structural assurance.(4) In addition to the direct significant positive impact on initial trust in mobile payment, trust propensity also moderates the impact on initial trust by perceived usefulness and online payment trust.(5) Online payment experience has a significant influence on mobile payment initial trust. Subsequently, based on the empirical results given by structural equation modeling analysis, we extract the key factors and build the mobile payment initial trust index system under cross-channel environment. Given the ambiguity and subjectivity of trust, the paper uses fuzzy comprehensive evaluation method for quantitative measurement, and then gets the initial trust in mobile payment possibility of66.50%in experienced group, while53.23%in inexperienced group. The experienced group is more likely to trust in mobile payment than the in experienced one, which gives reference for mobile payment service providers’business promotion decisions and market environment analysis and prediction.Finally, based on empirical results and measure results, we summarize the conclusions of the study and put forward the direction of further research covering the limitations of the study. There are17figures,47tables and137references.