{"title":"Influence of consumption values on adoption of cashless society in emerging economies: the mediating effect of cashless readiness","authors":"Md. Jahidul Islam, Shahedul Hasan, Ather Yeasir Fahim","doi":"10.1057/s41264-024-00273-9","DOIUrl":null,"url":null,"abstract":"<p>With the advancement of digitalization, mobile financial services have become increasingly popular as they offer convenient, accessible, and secure ways to manage finances. This trend is expected to continue because more people worldwide gain access to mobile technology and become comfortable with digital financial services. Thereby, this study explores the influence of consumption values, such as functional, social, and emotional values on the adoption of the cashless society, including the mediating effect of cashless readiness. Using a convenience sampling method, a total of 200 responses were collected through a quantitative research approach. The study reveals that functional, social, and emotional values significantly influence cashless readiness, which affects the adoption of a cashless society. Additionally, the research reveals that cashless readiness mediates the relationship between consumption values and the adoption of a cashless society. The findings can be useful for mobile financial service providers, banking institutions, and governmental organizations in formulating and designing strategies to increase the number of individuals using digital payment systems.</p>","PeriodicalId":46310,"journal":{"name":"Journal of Financial Services Marketing","volume":null,"pages":null},"PeriodicalIF":2.9000,"publicationDate":"2024-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Financial Services Marketing","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1057/s41264-024-00273-9","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 0
Abstract
With the advancement of digitalization, mobile financial services have become increasingly popular as they offer convenient, accessible, and secure ways to manage finances. This trend is expected to continue because more people worldwide gain access to mobile technology and become comfortable with digital financial services. Thereby, this study explores the influence of consumption values, such as functional, social, and emotional values on the adoption of the cashless society, including the mediating effect of cashless readiness. Using a convenience sampling method, a total of 200 responses were collected through a quantitative research approach. The study reveals that functional, social, and emotional values significantly influence cashless readiness, which affects the adoption of a cashless society. Additionally, the research reveals that cashless readiness mediates the relationship between consumption values and the adoption of a cashless society. The findings can be useful for mobile financial service providers, banking institutions, and governmental organizations in formulating and designing strategies to increase the number of individuals using digital payment systems.
期刊介绍：
Under the guidance of its expert Editors and an eminent international Editorial Board, Journal of Financial Services Marketing has become one of the world''s leading forums for the latest thinking, techniques and developments in marketing financial services. The Journal has established itself as a key bridge between applied academic research and commercial best practice, globally.
The journal covers:
marketing banking services, pension plans, insurance, saving schemes, investment finance, personal finance, mortgages and credit and debit cards
loyalty plans
brand management
cross-selling products and services
customer relationship management
online services
customer profiling
targeting
product positioning
pricing
distribution management
consumer finance
pooled investment funds
The Journal of Financial Services Marketing publishes detailed and authoritative:
Case studies from marketers worldwide, detailing their practical experiences, the problems faced and the lessons learned
Research with IMPLICATIONS FOR PRACTICE from leading business schools, research institutes and universities, worldwide
Reviews and briefings by expert practitioners and academics sharing thought-provoking and challenging ideas
Legal reviews examining in detail the major changes in legislation
Book reviews providing a ''thumbnail'' of best practice in marketing within the financial services field
...to keep subscribers up-to-date with the latest developments and thinking in bank and financial services marketing.
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