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

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Table of Contents List of Figures ...............................................................................................................v List of Exhibits ....................................................................................................................... ...vi List of Tables. ..........................................................................................................................vii Attestation of Authorship.......................................................................................................viii Acknowledgements...................................................................................................................ix Ethical Approval........................................................................................................................x Abstract......................................................................................................................................xi Chapter One: Introduction ....................................................................................................1 1.1. Overview ................................................................................................................1 1.2. Background ................................................................................................................2 1.3. Conceptual Base ....................................................................................................3 1.4. Study Rationale ....................................................................................................4 1.5. Study Locus and Context ........................................................................................6 1.6. Research Design ....................................................................................................7 1.6.1. Sampling procedure ........................................................................................8 1.6.2. Analytic Procedures ........................................................................................8 1.7. Benefits ................................................................................................................9 1.8. Thesis structure ....................................................................................................9 Chapter Two: Literature Review ......................................................................................11 2.1. Introduction ..............................................................................................................11 2.2. The emergence of the money concept ..............................................................12 2.3. Economic exchanges and modes of payment ..............................................................13 2.4. Electronic money transfer system (EMTS) ..............................................................14 2.5. Payment Mode and Purchase Behaviour ..............................................................16 2.5.1. Credit Card Research ......................................................................................16 2.5.1.1. Credit cards and purchase behaviour ..................................................17 2.5.2. Debit card research ......................................................................................20 2.5.2.1. Debit cards and purchase behaviour ..................................................21 2.6. Payment Mode effects on Purchase behaviour: Explanatory theories ..............23 2.6.1. Mental accounting and payment coupling ..................................................23 2.6.2. Pain of paying ..................................................................................................25 2.6.3. Transparency ..................................................................................................26 2.6.4. Research questions ......................................................................................27 2.6.5. Summary ..................................................................................................30 Chapter Three: Conceptual Positioning and Proposition Formation ......................................31 3.1. Introduction ..............................................................................................................31 3.2. Background ………………......................................................................................32 3.3. Theoretical basis & propositions ..........................................................................33 3.4 Anchoring, Cognitive embodiment and Mental Accounting ......................................34 3.5. Proposition Formation..................................................................................................36 3.6. Summary ..............................................................................................................39 ii
Chapter Four: Research Design and Methodology ..............................................................41 4.1. Chapter overview ..................................................................................................41 4.2. Research Approach ..................................................................................................42 4.3. Study Locus and Participants ......................................................................................44 4.4. Phase One: Data collection and analysis procedures ..................................................45 4.4.1. Pilot Group Sessions ......................................................................................46 4.4.2. Participant Selection ......................................................................................50 4.4.3. Data Collection and analysis ..........................................................................50 4.5. Phase Two: Questionnaire Development and Testing ......................................51 4.6. Phase Three: Payment mode choice and Purchase decisions ......................................52 4.6.1. Data entry and analysis ......................................................................................53 4.7. Summary ..............................................................................................................55 Chapter Five: Phase One: Results and Analysis ..............................................................57 5.1. Introduction ..............................................................................................................57 5.2. Data Type and Analysis ......................................................................................58 5.3. Participant Profile- Focus Group Sessions ..............................................................59 5.4. Results- Projective Tests ......................................................................................59 5.5. Results- Focus Group Sessions ..............................................................68 5.6 Discussion ………………………………………………………………………..73 5.7 Proposition One Evaluation ………………………………………………………..75 5.8 Conclusion ………………………………………………………………………..76 Chapter Six: Development and Validation of the Payment Mode Perception Scale ..............................................................................................................88 6.1. Chapter Overview ..................................................................................................89 6.2. Justification ..............................................................................................................89 6.3. Pre Test One ..............................................................................................................90 6.3.1. Pre Test One - Item generation ..........................................................................91 6.3.2. Pre Test One -- Data preparation ..............................................................95 6.3.3. Pre Test One- Internal consistency assessment ......................................97 6.4. Testing and finalizing: Pre-Test two ..........................................................................99 6.4.1. Pre Test Two- Data Preparation ..............................................................96 6.4.2. Pre-Test Two –Internal Consistency Assessment .....................................100 6.4.3. Item reduction and exploratory investigation of dimensionality .............102 6.4.4 Pre Test Two - Final Factor analysis .............................................................104 6.4.5. Pre-Test Two - Scale reliability and validity .................................................105 6.4.6. Assessing Construct Validity ……………………………………………….106 6.5. Field Study: Scale validation process .........................................................................110 6.5.1. Scale purification .....................................................................................111 6.5.2 Demonstrating Validity ……………………………………………………….113 Chapter Seven: Phase Two: Analysis and Results ............................................................116 7.1. Chapter Overview ................................................................................................116 iii
Page 1: Cash or Card: Consumer Perceptions
Page 5 and 6: List of Figures Figure 6.1 Sree Plo
Page 7 and 8: List of Tables Table 6.1. Explorato
Page 9 and 10: Acknowledgement The research idea i
Page 11 and 12: Abstract This study examines the co
Page 13 and 14: the payment mode selected impacts o
Page 15 and 16: Identifying the exact origin of anc
Page 17 and 18: 1.5: Study Locus and Context The av
Page 19 and 20: compare participants normal or pref
Page 21 and 22: Chapter 2 provides a critical revie
Page 23 and 24: 2.2: The Emergence of the Money Con
Page 25 and 26: commodity (bullion) and issued the
Page 27 and 28: 2.5: Payment Mode and Purchase Beha
Page 29 and 30: and Belmont (1996) found that resta
Page 31 and 32: Households’ Spending’ run by th
Page 33 and 34: students (n=37) were also asked to
Page 35 and 36: enefit of consumption and the assoc
Page 37 and 38: associated with the purchase of ple
Page 39 and 40: A number of explanations for how pa
Page 41 and 42: 2.6.5: Summary As this review of th
Page 43 and 44: Questions one and two are based on
Page 45 and 46: and label" events and occurrences,
Page 47 and 48: Thaler (1998) asserts that mental a
Page 49 and 50: If this is so then it is the transp
Page 51 and 52: 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
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cold. It seems that money in the de
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thought the shoe (that was linked t
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Exhibit 5.6: Summary of findings $2
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denominations ($5, $10). On the oth
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Emotions (see Exhibit 5.7g) The mos
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� It is just when I can hear coin
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� I don’t feel that when I see
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Exhibit 5.7 (c) LIQUIDITY � if I
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Exhibit 5.8. Quotes for PMP Scale.
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82 Using cash to pay for purchases
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84 Using a debit card to pay for tr
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` 86 If I had a $20 note in my wall
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88 Chapter Six Development and Vali
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latent variable determines the obse
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oot (sqrt) was applied to normalize
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Exploratory Factor Analysis reveale
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96 Table 6.2: Inter-Item and Item-t
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98 Exhibit 6.5: 49 Item Scale in Pr
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6.4.2: Pre-Test Two - Internal Cons
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The 45 items were examined to facto
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6.4.4: Pre Test Two - Final Factor
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6.4.6: Assessing Construct Validity
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used to measure individual construc
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110 Exhibit 6.9: Pre-Test Items Rem
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Table 6.14: Summary of Final Result
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All dimensions (Table 6.16) show AV
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7.1: Chapter Overview 116 Chapter S
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Four product categories of househol
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Since the use of cash and debit car
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7.4.1.2: Control Group-Test Groups
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7.4.2: Proposition Two Evaluation T
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126 Table 7.8: Indulgence Food Prod
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128 Exhibit 7.2: Proposition Two: E
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130 Table 7.12: Comparisons of Fact
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Proposition Two that- where consume
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Table 7.13: Mean Item Score: Field
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Research Question One: Do the cogni
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token is used, perceptions and beha
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would spend it on something special
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8.4: Methodological Contribution Th
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144 � The priming regarding the s
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it may be prudent for governments,
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Bechara, A., & Damasio, A. (2005).
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Carruthers, B., & Babb, S. (1996).
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Dohrenwend, B. P., Itzhak Levav, P.
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Garcia-Swartz, D., Hahn, W. R., & L
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Hair, J. F., Black, W. C., Babin, B
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Kassarjian, H. H. (1977). Content a
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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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