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

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management, mentally spent and gift mode. The solution separated the cash/debit card related (positive) emotions. That no negative associations were sustained reflects the focus group view that having money (no matter how it is accessed) was always positive. What are identified in the scale are the specific positive associations. Also identified is a factor representing social and personal pleasure (status and sensations) linked to the payment modes One item loading in this factor is somewhat inexplicable (Item 11 - I am more likely to overspend when I use a debit card), this may be linked to the notion of pleasure - but it is essentially, a mental accounting factor and would be expected to load with the money management factor. The remaining factors identify items pertaining to money management, gift mode (given as cash or by direct debit). Although the six factor solution has a low NFI, all other CFA criteria are met as well as the validity tests. So the scale is deemed acceptable as a measurement tool that will enable examination of the proposition that: the emotional and cognitive associations that people have with cash based tokens and electronic cards are related to their choice of payment mode. Even though the scale is acceptable for the purposes of this study, to improve robustness, more initial field work is required. The ninety items are drawn from the study population sample and this presents two concerns: one is the small number of initial items, and the other is the narrowness of the base from which the items were drawn. Further development of the scale should focus on item reassessment and writing as ‘good’ items are essential to scale validity (Clarke and Watson, 1995). 115
7.1: Chapter Overview 116 Chapter Seven Phase Two: Analysis and Results This Chapter describes the process and procedures used to address the questions: Does the payment mode used affect the volume, value, brands/products purchased in a single transaction? If so How? Is there a link between the cognitive and emotional associations that people have with specific payment modes and their payment mode choice? Verifiable propositions (see Exhibit 7.1) were developed from these questions in Chapter Three and are examined in this Chapter. Proposition Two will be examined via ANOVA based analysis and Proposition Three via comparing factor means and t-test procedures Sections 7.2 and 7.3 describe the data preparation process and sample characteristics. Section 7.3.1 describes the control group purchase patterns with the remaining sections reporting the analysis and results that pertain to Propositions two and three. Exhibit 7.1: Propositions P 2. Where consumers access their personal savings to pay for transactions, the mode of payment selected will affect their purchase behaviour. P2a: The overall mean amount spent in a single transaction will be less via cash than via a debit card payment mode. P2b: The overall mean number of products purchased in a single transaction will be less via cash than via a debit card payment mode. P2c: The overall mean amount spent on indulgence food products purchased in a single transaction will be less via cash than via a debit card payment mode. P2d: The overall amount spent on meals and drinks in a single transaction will be comparatively less via cash than via a debit card payment mode. P2e: The overall amount spent on non-food items in a single transaction will be less via cash than via a debit card payment mode. P2f: Where cash is used the overall amount spent on distributor (house) brands will be more than the amount spent on national brands. P2g: Where a debit card is used the overall amount spent on distributor (house) brands will be less than the amount spent on national brands. P 3. Payment mode perceptions are related to choice of payment mode selected
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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
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of all three projective tests. A fu
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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 and 122: 110 Exhibit 6.9: Pre-Test Items Rem
Page 123 and 124: Table 6.14: Summary of Final Result
Page 125: All dimensions (Table 6.16) show AV
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.
Page 173 and 174: Nielsen Research (2011, August) Nie
Page 175 and 176: 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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