Cash or Card: Consumer Perceptions of Payment Modes - Scholarly ...

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6.5.1: Scale Purification The factor analysis was run on 34 items and offered a 10 factor solution. The item-to-total correlations were calculated for all dimensions. As in the first stage, items that created a sudden drop in the plotted item to total scale correlation pattern were dropped and these six items were excluded from the final factor set as the three factors containing these items were also below the recommended value of .70 (see Table 6.13). The items removed are: I am not conscious of how much I spend when paying by cash If someone gave me a gift card of $100 I would spend it on something special If I had a $100 note in my wallet I would be reluctant to spend it I compare prices when I use cash to pay for my purchases I would not be conscious of how much I spend if I use a debit card to pay for purchases Using cash to pay for purchases reduce my spending Exhibit 6.10: The Thirty-four Item Scale 111 1 I am aware of how much I spend when I use cash to pay for purchases 2. Using a debit card gives me higher social status 3. Debit cards are more sophisticated than cash (coins/notes) 4. I prefer to use cash to pay for the majority of my day to day purchases 5. If a gift of $100 were deposited into my debit account I would spend it on something special 6. I like the sensation I get when I hold my debit card in my hand 7. If I had a $20 note in my wallet I would consider it spent 8. I would restrict my spending if I could only pay by cash 9. A debit card is convenient to use 10. I tend to over- estimate the amount of money I have in my debit card account 11. I spend more when I use cash to pay for purchases 12. I am more likely to overspend when I use a debit card 13. I like the sensation I get when I hold a $100 note in my hand 14. If someone gave me a pre-paid gift card of $100 I would spend it on something special 15. If I have cash in my wallet it is money to be spent 16. Paying by cash reduces the pleasure of shopping 17. If I had a $100 note in my wallet I would feel secure 18. If I had a $100 note in my wallet I would be reluctant to spend it 19. If someone gave me a $100 cash as a gift I would spend it on something special 20. If I had a $100 note in my wallet I would feel assured 21. Using my debit card to pay for purchases is pleasurable 22. Having money in a debit card is safer than having it in a wallet 23. If I had a $100 note in my wallet I would feel confident 24. I often feel upset when I check my debit card statements 25. If I had a $100 note in my wallet I would consider it spent 26. Using cash to pay for purchases helps me reduce my spending 27. I feel sad when I use cash to pay for purchases 28. If I had a $100 note in my wallet I would feel relaxed 29. I compare prices when I use cash to pay for my purchases 30. I am aware of how much I spend when I use a debit card to pay for purchases Consider that you have a debit card with $100 available to use and tell us how you would respond to the following statements: 31. I would feel confident 32. I would feel secure 33. I would feel relaxed 34. I would feel affluent
Table 6.14: Summary of Final Results from Exploratory Factor Analysis – Field Study Positive Emotions Debit Card (4) Item-tototal 112 Absolute Loading Cronbach Q33) I would feel relaxed ($100 D/Card) .795 .854 .883 1. Q31) I would feel confident ($100 D/Card) .774 .826 2. Q32) I would feel secured ($100 D/Card) .788 .806 3. Q34) I would feel affluent ($100 D/Card) .626 .696 Social and Personal Gratification (6) Q6) I like the sensation I get when I hold my debit card in my hand .595 .743 .786 Q2) Using a debit card gives me higher social status .603 .709 Q21) Using my debit card to pay for purchases is pleasurable .585 .590 Q11) I spend more when I use cash to pay for purchases .404 .588 Q16) Paying by cash reduces the pleasure of shopping .585 .609 Q3) Debit cards are more sophisticated than cash (coins/notes) .481 .588 Positive Emotions Cash (4) Q20) If I had a $100 note in my wallet I would feel assured .661 .777 .859 Q17) If I had a $100 note in my wallet I would feel secure .710 .772 Q28) If I had a $100 note in my wallet I would feel relaxed .669 .730 Q23) If I had a $100 note in my wallet I would feel confident .780 .734 Money Management (6) Q12) I am more likely to overspend when I use a debit card .650 .694 .742 Q30) I am aware of how much I spend when I use a debit card to pay for purchases .138* -.619 Q10) I tend to over- estimate the amount of money I have in my debit card account .500 .500 Q24 I often feel upset when I check my debit card statements .552 .541 Q26) Using cash to pay for purchases helps me reduce my spending .541 .521 Q8) I would restrict my spending if I could only pay by cash .530 .529 Mentally Spent (3) Q25) If I had a $100 note in my wallet I would consider it spent .581 .874 .696 Q15) If I have cash in my wallet it is money to be spent .549 .766 Q7) If I had a $20 note in my wallet I would consider it spent .413 .544 Gift Mode(3) Q14) If someone gave me a pre-paid gift card of $100 I would spend it on something special .479 .797 .688 Q19) If someone gave me a $100 cash as a gift I would spend it on something special .567 .747 Q5) If a gift of $100 were deposited into my debit account I would spend it on something special Behaviour (2) .479 .653 Q22) Having money in a debit card is safer than having it in a wallet .44 .871 .592 Q9) A debit card is convenient to use .44 .687 Awareness (2) Q1) I am aware of how much I spend when I use cash to pay for purchases .144 .768 .247 Q29) I compare prices when I use cash to pay for my purchases .144 .521 Negative Emotions Q18) If I had a $100 note in my wallet I would be reluctant to spend it .200 .742 .344 Q27 I feel sad when I use cash to pay for purchases .200 .447 Sensation Q13 I like the sensation I get when I hold a $100 note in my hand .081 .736 .149 Q30 I am aware of how much I spend when I use a debit card to pay for purchases .081 .472
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Cash or Card: Consumer Perceptions
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Chapter Four: Research Design and M
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List of Figures Figure 6.1 Sree Plo
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List of Tables Table 6.1. Explorato
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Acknowledgement The research idea i
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Abstract This study examines the co
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the payment mode selected impacts o
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Identifying the exact origin of anc
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1.5: Study Locus and Context The av
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compare participants normal or pref
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Chapter 2 provides a critical revie
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2.2: The Emergence of the Money Con
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commodity (bullion) and issued the
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2.5: Payment Mode and Purchase Beha
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and Belmont (1996) found that resta
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Households’ Spending’ run by th
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students (n=37) were also asked to
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enefit of consumption and the assoc
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associated with the purchase of ple
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A number of explanations for how pa
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2.6.5: Summary As this review of th
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Questions one and two are based on
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and label" events and occurrences,
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Thaler (1998) asserts that mental a
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If this is so then it is the transp
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The Chapter contends that the payme
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In this chapter, the methodology fo
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solid data, the issue of generalisa
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the experience. To do this requires
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as participants managed to link the
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4.4.2: Participant Selection There
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were initially examined via a test-
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set, in addition to the payment mod
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There are two major validity threat
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The Chapter commences by describing
Page 71 and 72: of all three projective tests. A fu
Page 73 and 74: However the negative thoughts diffe
Page 75 and 76: cold. It seems that money in the de
Page 77 and 78: thought the shoe (that was linked t
Page 79 and 80: Exhibit 5.6: Summary of findings $2
Page 81 and 82: denominations ($5, $10). On the oth
Page 83 and 84: Emotions (see Exhibit 5.7g) The mos
Page 85 and 86: � It is just when I can hear coin
Page 87 and 88: � I don’t feel that when I see
Page 89 and 90: Exhibit 5.7 (c) LIQUIDITY � if I
Page 91 and 92: Exhibit 5.8. Quotes for PMP Scale.
Page 93 and 94: 82 Using cash to pay for purchases
Page 95 and 96: 84 Using a debit card to pay for tr
Page 97 and 98: ` 86 If I had a $20 note in my wall
Page 99 and 100: 88 Chapter Six Development and Vali
Page 101 and 102: latent variable determines the obse
Page 103 and 104: oot (sqrt) was applied to normalize
Page 105 and 106: Exploratory Factor Analysis reveale
Page 107 and 108: 96 Table 6.2: Inter-Item and Item-t
Page 109 and 110: 98 Exhibit 6.5: 49 Item Scale in Pr
Page 111 and 112: 6.4.2: Pre-Test Two - Internal Cons
Page 113 and 114: The 45 items were examined to facto
Page 115 and 116: 6.4.4: Pre Test Two - Final Factor
Page 117 and 118: 6.4.6: Assessing Construct Validity
Page 119 and 120: used to measure individual construc
Page 121: 110 Exhibit 6.9: Pre-Test Items Rem
Page 125 and 126: All dimensions (Table 6.16) show AV
Page 127 and 128: 7.1: Chapter Overview 116 Chapter S
Page 129 and 130: Four product categories of househol
Page 131 and 132: Since the use of cash and debit car
Page 133 and 134: 7.4.1.2: Control Group-Test Groups
Page 135 and 136: 7.4.2: Proposition Two Evaluation T
Page 137 and 138: 126 Table 7.8: Indulgence Food Prod
Page 139 and 140: 128 Exhibit 7.2: Proposition Two: E
Page 141 and 142: 130 Table 7.12: Comparisons of Fact
Page 143 and 144: Proposition Two that- where consume
Page 145 and 146: Table 7.13: Mean Item Score: Field
Page 147 and 148: Research Question One: Do the cogni
Page 149 and 150: token is used, perceptions and beha
Page 151 and 152: would spend it on something special
Page 153 and 154: 8.4: Methodological Contribution Th
Page 155 and 156: 144 � The priming regarding the s
Page 157 and 158: it may be prudent for governments,
Page 159 and 160: Bechara, A., & Damasio, A. (2005).
Page 161 and 162: Carruthers, B., & Babb, S. (1996).
Page 163 and 164: Dohrenwend, B. P., Itzhak Levav, P.
Page 165 and 166: Garcia-Swartz, D., Hahn, W. R., & L
Page 167 and 168: Hair, J. F., Black, W. C., Babin, B
Page 169 and 170: Kassarjian, H. H. (1977). Content a
Page 171 and 172: Loix, E. Pepermans, R. Van Hove, L.
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Nielsen Research (2011, August) Nie
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Reimann & Bechara (2009) The somati
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Singh (2004) Impersonalisation of e
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Trent, J. & Smalley, G. (1992) The
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Zelizer, V. (1994). The social mean
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its usage. This in turn points out
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Adam Smith proposed that money is s
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During the 1950s, researchers began
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use of borrowed money. The introduc
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Appendix 2: Projective Tasks- Workb
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TASK THREE For this activity you wi
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TASK SIX Shopping experience using
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Activity Two Tick five traits/chara
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Appendix 3: Moderator Guide When pa
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important. Individual opinions and
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192 Write few sentences describing
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Appendix 5: Projective Tests- Theme
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Appendix 7: Projective Tool (Debit
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