The Users Willingness Factor to WeChat Payment

Last modified: September 10, 2020
Estimated reading time: 2 min
Project Title: The Users Willingness Factor To WeChat Payment
Author: Miss Zhong JiaYuan
Advisor: Dr. Tanakorn Limsarun
Degree: Master of Business Administration (International Program)
Major: International Business Management
Faculty: Graduate Schools
Academic year: 2020
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Published:

Conference
Conference Proceedings
National and International Academic Conference “Innovation and Management for Sustainability” 9-10 July 2020

Citation

Zhong, JiaYuan. (2020). The users willingness factor to WeChat payment. (Independent study, Master of Business Administration). Bangkok: Siam University.


Abstract

With the gradual development of WeChat payment, obstacles to the use of WeChat payment are gradually eliminated, such as obstacles during registration and network obstacles. When the obstacles to the use of an info1mation technology are eliminated, the degree of consumer acceptance of the information technology determines the promotion and development of the info1mation technology. Therefore, it is very urgent and important to study the influencing factors of WeChat payment willingness. In order that relevant operators are responding to the characteristics of consumers and launching payment services suitable for different consumer groups. At present, the domestic empirical research on WeChat users ‘willingness to pay is relatively lacking. Therefore, this issue is studied to expand consumers’ interpretation and prediction of mobile payment willingness and provide relevant countermeasures and suggestions for the promotion of mobile payment services.

The focus of this research is to investigate the factors that users are willing to pay for WeChat. This study analyzes the impact of cost, security, and convenience on payment willingness. This is the main factor affecting users’ use of WeChat payment. The literature research format has been used. This study found that time savings, increased security, and ease of use have a positive and significant impact on users’ willingness to pay. Mobile payment, as a new font of payment, further breaks the restrictions of time and space and profoundly changes the lifestyle of the information society. As long as a mobile phone can access the Internet, people can complete payment, shopping, and other acts anytime, anywhere. As an emerging industry, the mobile payment industry has good development prospects in China, but from the perspective of development stages, there are still many problems in the Chinese mobile payment market, and the market needs to be improved. Second, compare the representative products in China’s mobile payment industry, combine WeChat payment itself, find out the advantages and disadvantages of WeChat payment and other payment methods, and find relevant theories by combining the advantages and disadvantages. In this article, the study is first briefly described, and then the methodology and main results of the study are introduced. We then introduced the theoretical and managerial implications of the discovery. Finally, we introduce the limitations of the study and some suggestions for future research.

Keywords: We Chat payment, Willingness to pay, Payment function.


The Users Willingness Factor To WeChat Payment

Master of Business Administration (International Program), Siam University, Bangkok, Thailand

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