Adoption of mobile payment shifts consumer spending patterns, habits

Paying for goods with a smartphone not only increases the overall transaction amount and frequency of purchases by consumers, it also effectively replaces the actual, physical credit cards in their wallets, said Yuqian Xu, a professor of business administration at the Gies College of Business at Illinois. Photo by L. Brian Stauffer

Editor’s notes: To contact Yuqian Xu, call 217-300-6348; email yuqian@illinois.edu.

The paper “The impact of mobile payment channel on consumer consumption: Evidence from Alipay” is available online.

Source: Illinois News Bureau

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Adoption of mobile payment shifts consumer spending patterns, habits
Article Name
Adoption of mobile payment shifts consumer spending patterns, habits
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CHAMPAIGN, Ill. — Paying for a cup of coffee with a smartphone instead of a credit card is gaining prominence among consumers – and is disrupting their spending patterns and consumption habits, according to new research co-written by a University of Illinois expert who studies operations management.