Toward the digital economy: Mobile payment affecting sustainable consumption behavior

Abstract

Mobile payment has a pronounced impact on the consumption mode of various industries and provides new clues for sustainable consumption. This study aims to explore the role of perceived risk and perceived technology on sustainable consumption intention and behavior. Moreover, it proposes the structural equation model of mobile payment for sustainable consumption behavior. 574 participants from Chinese higher education institutions filled in the questionnaire. The bootstrapping method was used to solve the problem of mediating factors. Amos 26.0 helped to construct structural equation models. The study determined the negative effect of the perceived mobile payment risk on the perceived mobile payment usefulness, perceived mobile payment ease of use, and sustainable consumption intention. Moreover, the three variables have a particular buffer in the relationship between perceived mobile payment risk and sustainable consumption behavior. Furthermore, perceived mobile payment usefulness positively impacts sustainable consumption intention, and they have a chain-mediated effect on the relationship between perceived mobile payment risk and sustainable consumption behavior. The same effect also occurs in the relationship between perceived mobile payment ease of use and sustainable consumption intention.

Keywords

• Chinese college students
• Chinese consumer
• digital payment
• perceived risk
• sustainable development goals
• technological psychology